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Eurostat & Flatio: Central Europe lacks medium-term accommodation offers, though the market size is 1,6 billion Euro

Brno 16thNovember 2016 – People who spend 15 to 90 days in the biggest cities in central Europe pay for accommodation 1,6 billion Euro a year, showed research from a start-up company Flatio. Flatio has analysed Eurostat data. The biggest market in region is Berlin in Germany with its 1,2 billion Euro a year. Flatio has made this analysis because of its planned expansion. Real estate start-up Flatio offers medium-term rents in Prague and Brno at the moment. They are the only company there to successfully offer medium-term flats, 1 – 6 months, since March 2016.

The smallest city in region from the point of view of medium-term rents is Bratislava, followed by Hungarian Budapest. The market size is 14,8 (18,5) million Euro in these cities according to the analysis. The third smallest city is Prague where medium-term rents generate 77,7 milion Euro. The third biggest city is Vienna with 126 million, second Warsaw with 167 million. The biggest is Berlin as stated above.

Berlin is an economical centre of our region. Foreigner corporations and cosmopolitan cities generate number of visitors who come to Berlin to work or visit friends for more than 15 days. We are also pleased to see the data for Prague and other cities. The analysis shows that medium-term rents are an interesting market,“ says Radim Rezek, founder and CEO of Flatio.

There is no offer of medium-term rents in Europe

Flatio analysed the data from Eurostat of companies offering medium-term rents. The analysis showed that the only other company on the market , except from Flatio, is flt-club.com. “It seems that medium-term rents are undiscovered segment on the real estate market. The results of our analysis supported our idea to expand beyond Czech borders. We are already working with investors who will help us to become a service with offer of medium-term housing in all big European cities,“ says Rezek.

Data of Eurostat and average costs of housing per night

The analysis is based on publicly available data from Eurostat from 2014. It shows/registers nights spend divided according to length of stay. Flatio added the data of average cost per night in individual cities.

About Flatio.cz

Flatio is a specialist for a-few-month housing and it is here for those who need temporary home usually for longer work visits, studies, Erasmus program or during reconstruction of their own properties. It also serves those who come from other countries to visit their families and friends for a longer time.

The idea is to connect real estate business with the newest technologies to simplify the whole process of renting. Flatio lacks all stereotypes of a usual real estate agency, e.g. deposit, personal view or personal contract conclusion. Flatio solves the tours via virtual tours of chosen property, contracts are signed online and the tenants can also pay their rent thanks to the unique application by on-line card.

Flatio offers simplicity, speed and maximum comfort for both sides. Thanks to Flatio you can book your housing from any place in the world.

The services are available in Prague and Brno. It is a project of Radim Rezek, Flatio’s partner is an invest group Enern.