Number of foreclosures rising in Czechia

The number of foreclosures in Czechia has increased, according to freshly released data by the Czech Chamber of Executors. At the beginning of July, there were nearly 660,220 people facing a restraint order over unpaid debts, which was around 48,600 more than in the previous year. At the same time, the number of debtors by 6,200 compared to 2022.

According to experts, the growth in restraint orders is caused mainly by the worsening economic situation. However, the number of foreclosures and the number of people facing them is still significantly lower than a few years ago.