The market with prefabricated wooden houses in the Czech Republic is experiencing a major boom, the website ihned.cz reports. While ten years ago, there were around one thousand prefabricated wooden houses built in the country, last year it was nearly three thousand. “Over the past year, the demand has grown by one fifth,” Martin Fojtíko of the company Bidli, which specializes in low-energy wooden buildings, told the website.
The Czech Republic’s producer price inflation slowed in May after rising
the previous month, according to data released by the Czech Statistical
Office on Monday.
The producer price index rose 3.8 percent year on year in May, slower than 4.3 percent increase in April. The biggest increase was in ‘electricity, gas, steam and air conditioning’ prices, which rose by 8.6 percent annually in May.
Prices of ‘mining and quarrying’, and ‘food products, beverages and tobacco’ rose by 7.5 percent and 4.0 percent, respectively. Among the main industrial groupings, energy prices grew the most, rising 8.1 percent in annual terms.
Prague inhabitants with an average salary would have to work for nearly fifteen years for a flat of approximately seventy square metres, if they didn’t have any other expenses, suggests a study by the developer company Central group. Just a year ago, Praguers needed to work less than 14 years to acquire a flat, while in 2014 it was less than ten years.
High energy expenditures are forcing nearly a quarter of Czechs to cut back on other types of spending, a recent survey conducted by the polling agency STEM revealed. However, other data shows that 68 percent of the population likes to rank up their heating to temperatures by up to 25 degrees, resulting in unnecessary costs.
The Bank Board of the Czech National Bank raised its basic interest rate to
2 percent, an increase of 0.25 percent, the Czech News Agency reports. It
is the first rise since November 2018 and interest rates are now at their
highest in the past 10 years.
Analysts told the Czech News Agency the increase is mainly due to developments in the country’s economy, with inflation rates rising above predictions in the first quarter of 2019 and the exchange rate for the Czech crown weaker than the bank predicted in February.
The bank has also decided to go ahead with 0.25 percent raises in the Lombard rate, which deals with short-term liquidity loans to commercial banks and the discount rate.
The growth in apartment prices in the Czech Republic is expected to come to
a halt this year, according to a survey carried out by the Association of
Real Estate Market Development, released on Tuesday.
Last year, prices of apartments across the country increased on average from six to ten percent. The highest growth rate was recorded in Prague. In the first quarter of 2019, the price of new flats increased by nearly a fifth year-on-year to 104,666 crowns per square metre. Since the mid-2015, prices of Prague apartments grew by nearly 90 percent.
100 years ago the Czechoslovak Assembly decided on the name of the new republic’s currency - the koruna. Despite a variety of original proposals, the delegates ended up being rather conservative in their choice, voting for a name that had also been used for the currency of Austria-Hungary. To commemorate the date, the Czech National Bank has issued a rare collection of gold-silver coins.
The Prague City Hall coalition is due to meet on Friday to discuss a controversial proposal to collect anonymous data from electricity meters to identify vacant housing units. Mayor Zdeněk Hřib of the Pirate Party, which is behind the move, says despite alarm calls by his coalition partners, the intention was never to try to identify the owners of vacant properties – whether ‘foreign speculators’ or local investors – in order to tax them.