Czech property prices record fourth fastest growth in EU

The prices of houses and apartments in the Czech Republic rose by 8.9 percent in the last quarter of 2020. This was the fourth fastest growth rate in property prices seen in the European Union, according to data published by Eurostat and cited by the Czech News Agency.

Analyst Štěpán Křeček told the news wire that there was a limited supply of properties on the Czech market, which would worsen further as the Covid pandemic had slowed construction. At the same time there is rising demand due to cheap loans and growing savings.