Tuesday, 16 October 2018

Survey: Property is overpriced; lending regulations will not help

Prague Daily Monitor |
24 September 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.

This was reported by Pravo, based on data from a survey conducted by IPSOS for Wustenrot. Buying a flat in the Czech Republic currently costs 6.8 times the net annual average income in the country. In Prague, this figure is much higher, at 11 times the average annual income in the city, despite the fact that salaries in the city are about 30% higher than the national average.