Czech mortgage market grows by a third to 88 billion crowns in H1

Banks in the Czech Republic provided almost 50,000 mortgage loans for 88 billion crowns to individuals in the first half of this year, compared with over 41,000 mortgage loans for 67.9 billion granted a year earlier, Hypoteční banka told the Czech news agency, citing Regional Development Ministry statistics. The bank’s CEO Jan Sadil said that if there were no unexpected changes, 2015 would be a record year in terms of mortgage loans. The CEO outlined a combination of factors as having influenced growth, namely record-low interest rates, stable economic conditions with a positive outlook, increased activity by developers selling and building new housing projects mainly in large towns, and growing real estate prices.