Same old growth for Czech mortgages despite new rules
Published at: 2019-02-01 10:43 | Author: CIJEurope.com
So much for the end of the Czech mortgage boom. Analysts convinced themselves that the introduction of new rules in October by the Czech National Bank to cool off the real estate lending market would reduce the size of the market. Instead, the total volume of mortgages grew by CZK 15bn to a record level: CZK 232bn. New mortgages make up CZK 187bn, up from CZK 174bn in 2017, while the total of volume of refinanced mortgages fell CZK 4bn to CZK35bn. The new rules for mortgage lending meant that the size of the loan couldn't exceed nine times the borrower's annual salary. Monthly payments, meanwhile, can't exceed 45 percent of the borrower's salary.
Similar Stories:
J.W. Construction has started the construction of Willa Wiślana, a five-storey residentia
»
Czech Republic
♦
Česká spořitelna to offer 90% LTV mortgages to 1st time buyers
Česká spořitelna is preparing a new mortgage product for first-time home owners that wi
»
Czech Republic
♦
Rising Prague rents sparks demand for student accommodations
The Czech daily Denik writes that rising prices for apartment rentals is causing serious d
»
Serbia's Ministry of Defense has begun construction of a residential complex for memb
»
Baltics
♦
Bispevika promises new life for Oslo
Construction has begun on Bispevika, a brownfield project along Oslo’s waterfront that
»
Czech Republic
♦
PSN flush following giant Zličín land sale
PSN has sold 350,000 sqm of land to the dominant Czech residential developer Central Group
»
Greece
♦
Investors target Golden Visa seekers
Investors from China, Russia and other countries are leading a growing influx of foreign f
»
Czech Republic
♦
Round Hill plots European growth
The buildings are located in Helsinki and in regional towns near the south of the country.
»
