Czech property price growth sixth highest in EU

Year-on-year growth in Czech property prices in the first quarter of 2020 rose to 9.5 percent compared to 8.9 percent in the previous quarter, Eurostat data released this week shows. The Czech Republic thus has the sixth fastest rate of property price growth in the European Union.

Luxemburg, Slovakia, Estonia, Poland and Portugal all ranked ahead of Czechia in terms of price growth and exceeded 10 percent growth in the first quarter.

Czech Fund Analyst Lukáš Kovanda told news site Aktuálně.cz that the reason behind the growth was limited supply caused by the slow pace of housing construction.