Sales of Czech cottages up by 12.6 pct in 2020, prices rise 28 pct

The number of Czech cottages sold from January through September rose by 12.6 percent year-on-year, with prices up 28.5 percent in annual terms, according to the Reas company.

Interest in recreational properties grew due to the Covid-19 pandemic, lower mortgage rates and the expected abolition of real estate acquisition tax. Prices grew most in the Southern Bohemian region (over 50 percent), the Vysočina region (46.5 percent) and the Ústí nad Labem region (44.8 percent). In Prague, they fell by 4 percent.

The number of holiday properties sold and prices grew year-on-year every month except in April and May, when anti-coronavirus measures were in place, Reas director Michal Makoš told ČTK.

Author: Brian Kenety