Mortgage loan volume falls 22 percent in 2019

Mortgage loan volume falls 22 percent in 2019

Published at: 2020-01-24 09:05 | Author: CIJEurope.com
The volume of mortgage loans taken out by Czechs in 2019 fell 17 percent compared to the year before to CZK 181.6bn. Over the same period, the number of loans dropped 22 percent to 77,400 with the fall being attributed to stricter restrictions by the Czech National Bank placed on applicants. The fact that interest rates fell almost constantly over the course of the year did not bring the market back. At the beginning of the year, rates stood at 3 percent but they had fallen by December to just 2.34 percent. To qualify, applicants cannot request a loan that exceeds nine times their annual income.

Similar Stories:

Prague fails to deliver on new flats pledge
Prague's current leadership claims to be doing all it can to relieve the housing cris  »
Victor Piturca developing resi complex near Catedrala Mantuirii Neamului
Former football star and current manager Victor Piturca is developing a residential comple  »
Berlin rental increase ban takes effect
Berlin's ban on residential rent increases has gone into effect following a decision  »
Svoboda & Williams Exclusively Appointed to Mediate the Sale of Apartments in Viladům Vršní
The Svoboda & Williams real estate agency has received an exclusive instruction to med  »
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   »