Home price growth in Czech Republic fastest in EU

The price of flats and houses in the Czech Republic grew by 12.8 percent year-on-year in the first quarter of this year, according to figures released by Eurostat on Wednesday. This was the fastest growth rate in the entire EU in the first three months of 2016. Analyst Lukáš Kovanda of the company Cyrrus told the Czech News Agency that the reasons for the rise were excessively slow building planning processes in the Czech Republic, as well as increased demand caused by low interest rates stemming from the central bank’s now discontinued weak crown policy.

Author: Ian Willoughby