Tuesday, 18 December 2018

Real Estate

Czech property prices rises slow - but not in Prague

Radio Prague |
23 November 2018

The rise in apartment prices in the Czech Republic, which has been extremely rapid in recent years, has come to a halt or at least decelerated, due to Czechs reaching the limits of their purchasing power as well as new mortgage regulations, iDnes.cz reported. However, things are rather different in Prague, the news site said. The average cost of a new flat in Prague has now passed the CZK 100,000 a square metre mark and prices are expected to continue getting higher in the city.

Karlovo náměstí will be transformed

Prague TV |
14 November 2018

A plan has been approved for completely rebuilding Prague's largest square, Karlovo náměstí. The total revitalization of the park is estimated at about CZK 230 million and should be completed in 2025. The winning team proposes to divide the work into three phases. This will range from minor adjustments that can be implemented quickly to major changes that are long-term goals. To save the dying trees, some modifications will be made greenery next year.

Špitálka brownfield site to become "smart district"

Brno Daily |
6 November 2018

The Brno city architect's office announced an open international competition last Tuesday to create a new smart design for the Špitálka district. A part of the currently disused complex of the local heating plant is to be transformed into one of the most modern districts in Brno.

Property prices in big cities have reached their ceiling

Prague Daily Monitor |
31 Oct 2018

Novinky.cz reports that the price of properties, particularly new apartment buildings in large metropolises across the country seem to be slowly stagnating. This has come at the end of a six-year period of intense growth.

Czech Republic has the 7th fastest growing property prices in EU

Brno Daily |
22 October 2018

According to the latest data from Eurostat, the Czech Republic has the 7th fastest-growing house prices in the EU. The Czech Republic was ranked 1st in Europe last year in this respect. Slovenia, Ireland, and Portugal are the top three of the list, followed by Hungary, Netherlands, and Latvia.

Property prices in the regions are stabilising

Prague Daily Monitor |
12 Oct 2018

Hospodářské noviny reports that property prices in cities in certain regions of the country are beginning to stabilise and seem to have reached their ceiling, after years of record growth.

Czechia has the most expensive real estate in Europe for its inhabitants

Prague Daily Monitor |
3 Oct 2018

A study published by consulting firm Deloitte confirms what most locals in Prague fear as true. An average inhabitant of the Czech Republic would have to save for 11.3 years to buy an average apartment in the country.

Czechs scramble for mortgage loans before tighter rules bite

Reuters |
27 September 2018

Czech mortgage loan demand has jumped by up to 30 percent for many lenders in recent months due to a last-minute dash by borrowers before tougher income requirements take effect on Oct. 1, part of central bank efforts to cool a hot housing market.

Survey: Property is overpriced; lending regulations will not help

Prague Daily Monitor |
24 Sep 2018

83% of Czechs believe that property values in the country are far higher than they should be, and that recent and upcoming regulation from the Czech National Bank, aimed at tightening mortgage lending, will not have much effect on the market.

Prague to tighten Airbnb rules

Prague TV |
19 September 2018

Prague City Hall wants to change the law that regulates the operation of the accommodation through the Airbnb application. Accommodation providers, for example, would be obliged to give the city information on the residents, and Prague also wants to introduce the possibility to regulate Airbnb through decrees.

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