Renting hits Czech families harder than owning

Renting hits Czech families harder than owning

Published at: 2019-09-04 09:32 | Author: CIJEurope.com
Czechs pay CZK 1,800 more per month on rent than those who own their housing, even though they generally earn less. For those who own their own place, costs related to housing make up 27 percent of their budget but those who rent pay 37 percent on average. The figures were released by the consultancy Partners, which carried out a major survey of Czechs. It warned that best practice for people was to spend just 30 percent on housing costs. Speaking with the Czech News Agency, financial consultant Vladimir Weiss said that these costs include rent or mortgage installments, as well as charges for water, electricity and other charges. Half of the 1,000 Czech surveyed consider the housing situation to be so problematic that the government should get involved in solving it, while 25 percent think local officials should act. One in ten of those who think the government should act included nationalization as of residential properties as one of three potential strategies.

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