ARTICLES LABELLED WITH TAG housing

Czechs are still afraid of cooperative housing. It is the preferred form of ownership for only 3% of those who plan to buy a flat or house, while 13% do not even consider it when buying a property. However, due to the rise in mortgage rates and property prices, cooperative housing is more affordable and thus 22% of respondents have recently improved their opinion on it, according to a survey by Komerční banka and Modrá pyramida, a building society.

The average price of an older apartment in the Czech Republic exceeded CZK 90,000 per sqm for the first time in Q1 2022, according to a study by the real estate group European Housing Services (EHS). In Prague, an older apartment costs more than 120,000 per sqm and in Brno, it is over 90,000. Rents have returned to prices before the coronavirus crisis, the Czech News Agency quotes the EHS report.

The Czech government plans to introduce subsidy programs that could significantly help fund housing for refugees. In addition to funding from the state budget, money from the National Recovery Plan is also being considered. The use of the money depends on the approval of all EU-27 countries, Czech daily E15.cz reports.

Private equity fund Főnix wants to take control of a financial investment firm that manages the construction of several hundred homes and office towers within the BudaPart mixed-use project in Budapest.

Heimstaden continues to invest in its portfolio in the Czech Republic. This year it will spend almost two and a half billion crowns on thermal insulation, new projects and repairs, the company announced.

In Q3 2021, the Czech Republic registered the strongest house price growth within the EU, both in a year-on-year (22%) and a quarter-on-quarter (7.3%) comparison, well above the EU average of 9.2% and 3.1%, respectively, according to Eurostat’s House price index.

House prices in Romania went up by 2% in the fourth quarter of 2020 compared to the same quarter of the previous year, while across the European Union (EU) the average growth rate was 5.7%, according to Eurostat.

New housing has become more expensive in most European countries over the last years, including 2019. Among 23 countries participating in Deloitte Property Index Study, 20 showed growth in prices of new dwellings and only three of them saw a price decrease. Experts in the residential real estate market expected the growth trend to continue in 2020, but they became less optimistic in the context of COVID-19 pandemic. Thus, in almost half of participating countries, the residential market is expected to stagnate this year in terms of price and experts in only six countries have positive expectations.

Sales numbers for new housing units in Warsaw in the first three quarters of 2019 amounted to 17,500, which was an increase of 7% y-o-y. In 7 out of 18 districts in the capital, the average prices of units on offer exceeded €2,500 (PLN 11,000) per sqm, according to JLL.

International Campus AG, a specialist in micro-living products, is continuing its growth in Europe and expanding into the Czech Republic. In a joint venture with Czech project developer Karlín Group, International Campus has acquired a development project in the Holešovice district of Prague with 529 high-quality apartments for students. It has been agreed not to disclose the purchase price. The building that is to become “THE FIZZ Prague” will have a gross floor area above ground level of 16,529 square metres over eight floors. The opening is planned for Q1 2020.