The Prague 14 municipal district has managed to start construction on a 30-year neglected area near the Černý Most metro station. It was only possible when the municipality took over the area affected and was able to improve it. This finally began to happen in mid-September this year, when the construction of a new modern multifunctional building started on the site. What is new is that the Prague 14 councillors at their December meeting approved the conclusion of a contract for the construction and financing of the building with the company Dostupné bydlení České spořitelny (Affordable Housing Česká spořitelna, DBČS). The latter will invest CZK 200 million (€8.156 million) in the project. The total cost of the project is estimated at €25.7 million.

Marek Blaha, Head of affordable housing developer Dostupné bydlení České spořitelny, talked to Property Forum about the necessity of expanding the overall availability of housing in the Czech Republic. According to him, one of the strategies to solve such a problem could lie in augmenting the proportion of rental housing and this could be supported by the cooperation of banks, municipalities and developers.