Czechs' debt rose by 8.9% last year to 3.6 trillion crowns

The debt of the Czech population rose by 8.9% in 2024 to 3.6 trillion crowns, according to data from the Banking and Non-Banking Client Information Register, provided to ČTK on Tuesday by the Czech Credit Bureau. Last year, the volume of unpaid housing debt also increased year-on-year for the first time in ten years, by 3%.

The volume of debt from housing loans rose by 9.4% year-on-year to 2.99 trillion crowns. This is the highest increase since the record increase in 2021, the data show. "The housing loan market revived significantly last year. The number of people with housing loans decreased by 1% … fewer people have housing loans, but they borrow higher amounts," said Lenka Novotná, executive director of the Register. The average amount of long-term debt per client was one million crowns higher than five years ago.