The New Town (Czech: Nové Město) is a quarter in the city of Prague in the Czech Republic. New Town is the youngest and largest of the five independent (from the Middle Ages until 1784) towns that today comprise the historic center of modern Prague. New Town was founded in 1348 by Charles IV just outside the city walls to the east and south of the Old Town and encompassed an area of 7.5 km²; about three times the size of the Old Town. The population of Prague in 1378 was well over 40,000, perhaps as much as twice that, making it the 4th most populated city north of the Alps and, by area, the 3rd largest city in Europe. Although New Town can trace its current layout to its construction in the 14th century, only few churches and administrative buildings from this time survive. There are many secular and educational buildings in New Town, but also especially magnificent gothic and baroque churches. These nevertheless are not the main drawing points for tourists. New Town's most famous landmark is Wenceslas Square, which was originally built as a horsemarket and now functions as a center of commerce and tourism.