Current Affairs Local Development Ministry projects annual rise in regulated rents by almost 20 percent
Rents on around 750,000 flats in the Czech Republic are still regulated by the state. But following years of restitution and privatisation, many apartment buildings are now owned by private landlords who say they cannot cover maintenance costs. A law was approved this year aimed at gradually adjusting rents to their market values. The plan was to increase rents by just over 14 percent a year over the next four years. Until Tuesday that is, when the Local Development Ministry said new figures on market values mean rents will have to rise by just over 19 percent a year. Dita Asiedu spoke to economic analyst Jan Sykora about this thorny issue.
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