Private home prices in the Czech Republic are on the rise

Post date: Sep 02, 2018 6:31:57 AM

Private home prices in the Czech Republic are on the rise 

Many Czechs spend their weekends and vacations in village cottages and in vacation homes, which are considered an inseparable part of life in the Czech Republic. Nonetheless, those who seek relaxation from the din of the great cities must now invest far more efforts than was previously the case.

In fact, the rise in apartment and home prices in the Czech Republic has also spread into the private home market. According to the data of the CeMap Company, the prices of private homes rose by 20% over the past year. The highest rises were registered in the Vysočina and Zlín regions (a rise of 40%) and in the Liberec region (a rise of around 30%).

Experts believe that this rise derives from, among other things, the rise in real estate prices elsewhere in the Czech Republic. Residents who therefore cannot afford to purchase private homes elsewhere or apartments in the cities turn to these regions instead, driving up demand and therefore the price as well. In addition, in spite of changes to the mortgage regulations in the Czech Republic – the private homes still enjoy accessible mortgages provided that they be populated year round.

The highest number of private homes (cottages and vacation homes) in the Czech Republic can currently be found in Central bohemia, which reflects the fact that their owners are Prague residents that are not interested in vacationing far away from their homes in the weekends.

However, this proximity does not adversely affect the quality and most private homes in the Czech Republic are of the highest quality, requiring no renovation. The reason for this is simple – the Czechs do not want to work hard in their weekends in the village and just want to relax. 

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