TPA Horwath consultancy carried out a survey in eight CEE countries concerning actual prices of apartments in CEE capitals and cities with the number of population around or below 500,000. The typical price of standard apartment of 60 sq.m. in the city centre in Bucharest, Romania is equivalent to 1.77 million CZK. Romania is the cheapest country in the survey. On the opposite site there is Prague and Vienna as the most expensive capitals. In Prague the price of standard apartment reaches 5.62 million CZK, in Vienna it is 9.95 million CZK. Regarding the difference in costs of apartments in cities with less than 500,000 inhabitants, the price differences among Central and Eastern Europe countries are much smaller.
TPA Horwath has also studied the rates of mortgages in CEE countries. At the moment Romania experiences the highest rates, on the other hand Austria has one of the most advantageous interest rates of mortgages. The rate difference between those two countries is 3 percentage points. In a very hypothetical case if comparing a 2 million CZK mortgage, the difference is 60,000 CZK per year. In general the actual rates of mortgages in the CEE region are quite advantageous.
For the exact numbers please see the attatchments.
