Czech banks expected to provide mortgage loans worth CZK 250 billion

Published: 18.12.2020 Related countries:  Belgium Belgium

Czech mortgage loans market is expecting a record year despite coronavirus crisis

According to recent statistics, in the first eleven months of 2020, Czech banks have provided mortgage loans worth CZK 224.5 billion. For the whole of 2016, mortgages worth almost 226 billion were provided, which is the maximum so far. According to various banks representatives, this year will be a record-breaking one. Experts expect that the market will continue to grow rapidly at the end of the year and they estimate that overall, mortgage loans worth CZK 250 billion could be provided in 2020. There are a number of factors behind this year's dramatic growth of the mortgage market. Demand is mainly driven by the interest of investors in real estate for fear of the depreciation of the Czech currency. According to developers representatives, investment purchases of apartments make up fifty to sixty percent of all sales.

Source: https://www.e15.cz/

Prepared by the team of foreign office CzechTrade Brussels