Czech mortgage market grew by 23 pct in 2013

The Czech mortgage market grew by 23 percent last year, according to figures released by the Regional Development Ministry on Thursday. In 2013, banks in the Czech Republic provided 92,600 loans totalling a record 149.3 billion crowns, or over 7 billion US dollars. Analysts say that refinanced mortgages accounted for around one third of the volume; however, record-low interest rates also contributed to the growth.