Growing interest in apartments in Prague is accompanied by rising popularity of single living. Recent data provided by the Czech Statistical Office suggests that in Prague 22% of women and 17% of men are living single. The largest housing developer in the Czech Republic (Central Group) confirmed this trend. While until 2010 men had been buying new...
At the end of the summer drops in interest rates have occured. This overall trend was concomitant to an accentuated reduction in the interest rate of the mortgage loans. Moreover, demand in new mortgage loans has decreased in 2019 compared to 2018 and 2017.
One of the Czech bank came out with a new mortgage product exclusively for foreigners. From now on they no longer have to have any type of residence in Czech republic in order to apply for a mortgage. Currently the only requirement is to prove that they have an income in Czech republic for two years. This new...
According to the latest news the Czech National Bank ("CNB") hasn´t changed the interest rates. We can expect the interest rates to be the same or lower during the summer and in the second part of this year.
The interest rates of mortgage loans are still decreasing due to special offers from the banks. The mortgage demand had decreased since the start of 2019 and banks are trying to keep their clients and get new ones. Their other offer is the possibility to get a mortgage with a long fixation period with much better interest rate.
Many banks extended their campaigns and they are still offering mortgage loans for better conditions. This situation should be the same the whole May.
In the last the Czech National Bank ("CNB") meeting on 28th of March it was decided not to increase the prime rate. In the first quater of 2019 the production of mortgages for housing has decreased by 32% . The main reason of this huge decrease is the current availability to get a mortgage since the new CNB DTI...
Czech National Bank has decided to ban some of the fees on early repayment of the mortgages. This regulation should help arrange better conditions for applicants for a mortgage.
Most of the expats and foreigners ask if they are able to get a mortgage in the Czech Republic and what are the current conditions. Here is a brief overview what you can expect:
The year 2019 has already started and we provide you with our prediction for the upcoming months. Let´s start with the Czech mortgage market first.
