2019 Volume 14 Pages 28-37
Gentrification has emerged in post-socialist cities since the 1990s. This paper aims to clarify three factors of gentrification: the changing inner urban structure, change in landscape, and consequences of river side development in Prague.
Under a socialist government earlier, the central city area did not boast of great commercial and service activities. However, with the introduction of a market economy, commercialization began to happen. In the 1990s, the Czech government undertook restitution of
properties to its owners, or their heirs. Thereafter, gentrification occurred in Vinohrady, an old well-planned suburb.
Historic landscapes were preserved as world cultural heritage in central Prague. Historical buildings in the city center were used as cafes, restaurants, or souvenir shops for tourists, with a few even refurbished as tourist accommodation. However, a new development was that of office buildings that came up around the historic city center, largely because of demand from foreign establishments.
The working classes lived in Karlín. On vacant brown fields between existing communities and the Vltava river, office buildings and condominiums were constructed. Prices are higher in housing units with Loggia than normal housing units. In general, rising housing prices affected the formerly affordable housing markets in Prague, where multinational occupants, especially affluent Russians came to reside. However, these buildings faced risk of floods because of their proximity to the river.
