Prices for renting and buying houses have experienced a slowdown in the Czech Republic
From data of the third quarter of 2022, Eurostat says that housing prices in the Czech Republic have slowed down. Compared to the previous quarter, house prices increased by 2,1% and rental prices by 7,4%, a big difference from the same quarter in 2021, which had seen a 16,6% increase overall. However, this situation is among the most worrisome in the entire European Union. In fact, Czechia is among the seven EU countries where prices for real estate have more than doubled in 10 years, precisely by 133%, and since 2013 they have never gone down. While rents have been rising steadily throughout the period up to the third quarter of 2022, house prices have fluctuated considerably and have been on an upward trend since the first quarter of 2015.
From a European perspective, when comparing the third quarter of 2022 with 2010, house prices increased in 24 member states and decreased in three. They more than doubled in Estonia (+199%), Hungary (+174%), Luxembourg (+140%), Lithuania (+137%), Latvia (+134%), the Czech Republic (+133%) and Austria (+130%). Decreases were observed in Greece (-22%), Italy (-9%) and Cyprus (-0.3%). As for rents, prices increased in 26 EU member states and decreased in one, with the highest increases in Estonia (+233%) and Lithuania (+151%). The decrease was recorded in Greece (-24%).
Sources: https://ec.europa.eu/ ; https://www.camic.cz/
Sources of images: https://pixabay.com/ ; https://storyset.com/
