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Housing prices in the Czech Republic are slowly going up after stagnation

03.06.2024
Homesoverseas.ru editorial office
196

Prices for apartments and houses in the Czech Republic are rising again, according to real estate market players. According to a study by Bezrealitky, in the 1st quarter of 2024, the average cost of ready-made housing rose by 2%.

People in the Czech Republic are again showing more interest in investing, experts say, as interest rates on loans have become more attractive. The trend is noticeable in large markets, but stagnation still continues in less active ones.

Buyers who want to rent out real estate in the future are more likely to prefer small apartments.

Nevertheless, the problem with housing affordability in the Czech Republic persists. Previously, monthly mortgage payments and rent were about the same: somewhere between 30 and 40 percent of a family's disposable income. But over the past two years, mortgage payments have increased dramatically due to rising real estate prices and a jump in loan rates. Fewer people can afford to buy their own homes.

Source: Radio Prague International

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