Although the Czech Republic is a smaller country compared to others in Europe, it’s full of history, culture, natural beauty, and established traditions. Not only that but Czechia is amongst the countries with a well-built, organised, and developed economy, infrastructure, and job market.
When it comes to living expenses, they are actually quite affordable. Daily costs for food and housing are about average on a global scale. While public transport, education, health care, bills, and entertainment outlays are even low as to those of other countries. Thus, with a full-time job and reasonable spending habits, living in the Czech Republic is pretty inexpensive, even if you treat yourself from time to time. And an average of 21,000 CZK which is approximately £700 is enough to cover some basic expenses if you restrain from luxury goods.
So, moving to Czechia and starting a life there is a serious step that inquires for a precise evaluation of the living costs. Go on with our informative post where we thoroughly review the Czech Republic living costs.
To open a bank account in the Czech Republic, you first need to choose a bank that is most suitable for you. Check all Czech banks’ service fees, terms of conditions, and special offers to decide. There are banks that provide banking services in English, so you can opt for one of them. Then you need to pick the type of bank account. Czech banks provide three main bank accounts:
- Basic bank account – it only allows you to deposit money and make withdrawals and settle your bills without overdrafting.
- Current bank account – it provides the same features plus making bank transfers and in-store payments.
- Savings account if you just need to make savings.
But what documents do you need to open a bank account? Czech banks demand:
- a valid passport;
- another identity document, such as a driver’s license, birth certificate, health insurance card, or resident card;
- a minimum deposit – it varies depending on the bank, some require 200 CZK (£7) and other – 2000 CZK (£70).
If you are a student, the bank will probably ask you to present a study certificate from your educational establishment or a student visa/permit, too.
Some banks offer an option to open a bank account online if you still haven’t moved to the Czech Republic. But you will still need to go to the bank to end the procedures once you’re in the country.
Accommodation cost in the Czech Republic
Unlike most other living expenses, rent costs in the Czech Republic are high.
Here are the prices for places that are most commonly for rent:
- Private room in a flat – from 5 000 CZK (£170) to 10 000 CZK (£335);
- Small studio/one-bedroom with kitchen – prices range between 9 000 CZK (£302) and 25 000 CZK (£840);
- One-bedroom flat with kitchen and one additional room costs between 14 000 CZK (£470) and 30 000 CZK (£1 007).
Renting prices depend also on the city you choose, the location of the place and whether it’s equipped (with furniture, appliances, and more). Naturally, the closer to the city centre and better equipped, the more expensive the rental property is. The indicated prices include water and electricity charges.
Note that you might need to pay extra taxes for different services such as repairs, cleaning areas outside of the property, common areas bills, and more if they are included in the lease.
Wonder if you can find and rent a place on your own? The answer is yes, you are completely able to rent without the help of a professional if you have enough time and patience to research and be cautious of potential rental scams. What helps with finding a place to rent is browsing through different Facebook groups for rentals in Czechia or visiting bezrealitky.cz, for renting with no real estate agency fees.
What about buying a property in the Czech Republic? You need to be an official Czech citizen or an expat with a permanent residence permit or a granted asylum to be able to purchase. Prices for buying a home in the city centre range between 45 000 – 156 000 CZK (£1 507 – 5 224) with an average price – 85 000 CZK (2847£). And buying a property outside of the city centre costs between 32 000 – 100 000 CZK (£1 071 – 3 349) and the average price is 62 000 CZK (£2 077). But besides the expenses of buying the places, there are some more taxes to cover as an owner. We mean legal fees, registration fees, real estate agent’s fees if you worked with an agency.
Cost of utility bills
Utility bills in Czechia are often included in the monthly rent but let’s analyse them separately:
- Basic utility bills (electricity, water, heating, cooling, garbage) for 85m2: 4 600 CZK (£155)
- 1 minute of prepaid mobile tariff local: 3 CZK (£0.10)
- Internet (60Mbps, unlimited data, cable/ADSL): 925 CZK (£31)
That’s approximately how much a single person pays for a utility bill per month in the Czech Republic.
For a family of three, the utility bills outlay is usually twice or three times the ones of an individual.
Everyone needs to use public transport if not every day, at least once in a while. Czech public transport is considered very cheap. Below are the prices for public transport tickets varying depending on passenger age.
|Adult and student||Children 10-14 years|
|30 minutes travel ticket||24 CZK (£0.80)||12 CZK (£0.40)|
|90 minutes travel ticket||32 CZK (£1.07)||16 CZK (£0.54)|
|1-day pass/24 hours||110 CZK (£3.69)||55 CZK (£1.84)|
|3-day pass/72 hours||310 CZK (£10.39)||310 CZK (£10.39)|
|1-month pass||670 CZK (£22.45)||670 CZK (£22.45)|
Elders 70+ and children 0-9 years old travel for free but they must always carry a document with the date of birth and show it if requested by a transport employee.
Keep in mind that these prices are valid for buses, metro, and trams.
And if you use your own vehicle, you’ll be interested in fuel prices. The price of 1L of petrol is currently around 31 CZK (£1.04) and 1L of diesel is approximately 29 CZK (£0.97).
Wondering about taxi prices? Czech taxi services usually cost about 25 CZK (£0.84) per 1km.
Cost of necessities
After settling at your new Czech home and finding the perfect transportation to your job or school, it’s time to take care of some necessities such as food, clothing, hygiene cosmetics, entertainment, etc.
Food costs in the Czech Republic
The amount of money spent on food varies between 4 000 CZK (£144) and 8 000 CZK (£268) per month depending on whether you eat outside or buy products and cook at home.
Below are the prices of some essential food items:
|Type of Product||Average Prices(CZK)||Average Prices(GBP)|
|Loaf of bread||25.08 CZK||£0.85|
|Local cheese||209.64 CZK||£7.03|
|Apples (1kg)||36.55 CZK||£1.24|
|Bananas (1kg)||31.74 CZK||£1.04|
|Oranges (1kg)||38.04 CZK||£1.27|
|Tomatoes (1kg)||53.31 CZK||£1.79|
|Potatoes (1kg)||20.64 CZK||£0.69|
|Onion (1kg)||20.55 CZK||£0.69|
|Water 1.5L bottle||13.41 CZK||£0.45|
|Bottle of wine||120.00 CZK||£402|
|Beer 0.5L bottle||17.26 CZK||£0.57|
And you those of you who prefer to eat outside:
|Average Prices(CZK)||Average Prices(GBP)|
|Meal in an inexpensive restaurant||140 CZK||£4.69|
|Three-course meal in a mid-range restaurant||350 CZK||£11.72|
|McDonald’s McMeal||140 CZK||£4.69|
Attire and personal care
Let’s look closer at some average clothing prices:
|Type of Clothing||Average Prices(CZK)||Average Prices(GBP)|
|Cotton shirt||530 CZK||£17.90|
Czech health care is free if you have insurance. It varies between 400 CZK to 600 CZK (£13 – 20).
Sport life and culture
Culture and sports are widely accessible to Czech citizens. Cinema tickets usually cost around 180 – 200 CZK (£6-7) and they are less for students – 100 -120 CZK (£3 – 4). Museums let students with a 50% discount on the ticket price.
Fitness centres with specialised equipment and other sport activities prices are about 300 – 500 CZK (£10 – 17) per month.
All the information is as accurate as possible. There might be slight differences because the economy is daily changing quite dynamically.
So, now you are well aware of the costs related to living in the Czech Republic. If you start a new life there, you’ll spend most of your income on food and rent, but you’ll definitely be able to afford some exciting experiences to really get to know and enjoy the country.