Ostrava: A City of Opportunities on the Rise
Ostrava’s Growth: Development, New Projects, and a Thriving Property Market
Over the past five years, Ostrava - the third-largest city in the Czech Republic with more than 283,000 residents - has shown remarkable growth and development. Historically known as a major industrial hub in the northeast of the country, the city is actively modernizing its infrastructure: new residential complexes and shopping centers are emerging, parks and public spaces are being revitalized, and roads and transport arteries are being repaired.
In 2023, 8,360 people moved to the city, reflecting Ostrava’s growing appeal to new residents.
Housing and Real Estate Market
The average rent for a two-room apartment in Ostrava is around CZK 12,840 per month. By comparison, in Prague the same type of apartment costs around CZK 19,400. This difference makes Ostrava an affordable option for those seeking reasonably priced housing. Apartments for rent in Ostrava offer plenty of choices for long-term living.
For those considering purchasing property, Ostrava remains an attractive market. Apartment prices are significantly lower than in Prague or Brno, and the average rental yield reaches 5.1% - one of the highest in the country. With growing housing demand, apartments for sale in Ostrava can be a profitable investment.
Reasons for Growth and Migration
Ostrava benefits from both domestic and international migration. Migrants from Ukraine and other countries, who find it difficult to afford housing in expensive Prague, increasingly choose Ostrava. The city offers affordable housing, relatively low living costs, and a variety of job opportunities, creating steady demand for rentals and encouraging the construction of new residential developments.
The local economy is also gaining momentum: incomes are rising, investments in real estate are increasing, and social infrastructure is expanding. One notable example is the Nové Lauby residential complex in the city center, which includes rental apartments, parking facilities, and commercial spaces. Construction began in 2021 and is progressing according to plan, reflecting investor confidence in Ostrava’s property market.
Life in Ostrava Today
Beyond real estate, the city is developing its transport network, opening new kindergartens, schools, and medical facilities. The cultural scene is also becoming richer, with new exhibition spaces, theaters, and concert venues. Many districts, such as the historic city center and modern Poruba, appeal to both young professionals and families with children.
Average rents remain significantly lower than in Prague, making Ostrava a viable choice for both long-term and temporary stays. At the same time, the quality of life is steadily improving: transportation, social infrastructure, and cultural amenities are all expanding, creating a comfortable environment for residents and investors alike.
Thus, Ostrava combines dynamic growth, expanding infrastructure, and affordable housing, offering both new opportunities for living and profitable real estate investments in the years to come.