This year we are witnessing a very high interest in new flats. In the first half of the year, almost twice as many were sold in Prague as last year. Record interest in new housing is spilling over into the mortgage market. Despite rising rates, the volumes of agreed loans create new highs month after month. According to Fincentrum Hypoindex, in the past 8 months of this year, banks have already lent almost CZK 293 billion to people for housing. The total volume of mortgages for the whole year could thus exceed an incredible CZK 400 billion.
The high demand for new housing is mainly due to concerns about the devaluation of savings due to inflation and the still cheap mortgages. Who is considering buying a new apartment on credit, but should not hesitate too much. The Czech National Bank has warned several times that it is very likely to raise rates by the end of the year, even repeatedly. According to expert estimates, they could increase up to 3%.
Source: Central Group
Photo: Radlické vyhlídky – Centrál Group
