Central bank board: Rising Czech property prices surprising

Members of the board of the Czech National Bank have been surprised by the growth in property prices and the number of new mortgages in the Czech Republic, according to a recording of a meeting last month on financial stability quoted on Tuesday by the Czech News Agency. The board said, however, that they expected the rise in housing prices to slow in later quarters this year.

At the May 27 meeting the central bank board decided to leave restrictions on providing mortgages at their current levels, saying it was not necessary to tighten them.