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Invite Squatting Luxury Apartments!

Who among us did not dream of living a high life on the ritzy street of Prague? The time has come for those with Prague's aspirations to achieve their up-market real estate fantasies on their Prague 11 budget, if only for the day. villa

The new Squat iD23 project will open five apartments for the public in a historic building; fictional Czech families "occupy" the apartments, the profiles of which were used to inspire participating designers.

This event, which began on November 24 and runs through December 22, will be organized by Insidecor, Prague real estate management, ID Arch Studios, SAD, OOOX and other local designers and architects, influencing design and online architecture.

Visitors can spend time in glamorous apartments, each presented in a different décor style, from Sophisticated to Times, admiring the decor and of course, shopping windows for Czech designs.

"Squat" is an opportunity in a number of organized events that include guided tours of the building (780 CZK) and evening parties; groups can even choose to rent a whole apartment for holiday meetings.

This is much more than in cities in neighboring countries where the average cost of an apartment is higher, but the people also do much more.

The Central Group analyzed last month the cost ratio of purchasing a flat in Central European cities using the average cost of an apartment (CZK 4.8 million in Prague), as a basis, and the average salary of an individual (CZK 34.824 per month in the Czech capital).

Prague does not have the most expensive flats for an average cost of CZK 4.8 million; of the 10 cities surveyed, Munich hold this title at an average price of CZK 12.94 million.

But Munich's residents are paying their average wage 9.1 times, compared to 11.5 years, so that a Prague resident has to work to meet the costs in his town.

In this case, how many years will an average resident have to work to pay off the debt:

Prague - 11.5 years old (average flat: 4.8 million CZK)

Vienna – age 9.9 (8.93 million CZK)

Munich – nine and one years (12.94 million CZK)

Bratislava – Age 8.9 (3.82 million CZK)

Budapest – Age 8.8 (3.05 million CZK)

Varsovia – 6.4 years (2.63 million CZK)

Berlin, 6.4 years old (7.37 million CZK)

6.2 years from Hamburg (8.11 million CZK)

Cologne – five.2 years (6.72 million CZK)

The average flat size was between 67 and 72 meters in most cities, but Warsaw was 55 meters down.

In the last two years, real estate prices have been increasing in Prague: in the second quarter of 2014, residents of the Czech capital would have only had to pay their average flat by 9.5 times their annual salary.

"The main reason for this situation is that the building pace in Prague is significantly slower than in other foreign capitals," said KPMG's research firm Pavel Kliment in a press release.

"During the past six months, the number of new homes built is three times lower than the number of apartments sold."

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