Czech mortgage loan volume strengthens in August

Czech mortgage loan volume strengthens in August

Published at: 2018-09-20 11:36 | Author: CIJEurope.com
Interest rates for mortgages have continued to rise in the Czech Republic, but this hasn't stopped growth in the demand for long-term real estate financing. Hypoindex reports that the average interest rate for a mortgage loan rose slightly to 2.53 percent in August, but that a total of 8,475 loans were concluded, 1,459 more than in July. Josef Rajdl, Fincentrum's chief analyst, said that many of the top banks left rates where they were in August. "Basically they didn't want lose clients to the competition just before the Central Bank-recommended tightening of the bonity tests," he said. The new guidelines recommend loans not exceed nine annual salaries of the borrower and that monthly installments not exceed 45 percent of the borrower's wage.

Similar Stories:

Nexity starts apartment sales in 4th stage of NextUrsus in Warsaw
Nexity has started apartment sales in the fourth stage of its NextUrsus residential projec  »
Echo Investment to develop Fuzja in Łódź
Echo Investment has started construction of Fuzja, a mixed-use project in Łódź. Locate  »
Alin Burcea invests €7m in Lake Snagov residential
The businessman Alin Burcea has invested €7m in a residential project on the shores of L  »
U Hájenky Apartments: Construction Has Commenced
The Svoboda & Williams real estate agency has been exclusively appointed to sell the u  »
Where do you see your company going over the next two years? Since I became GM of the co   »
Construction has begun on Bispevika, a brownfield project along Oslo’s waterfront that   »
PSN has sold 350,000 sqm of land to the dominant Czech residential developer Central Group   »
Investors from China, Russia and other countries are leading a growing influx of foreign f   »