Mortgage borrowing reaches 72.7 billion crowns in 2005

22-02-2006

According to data supplied by the Ministry for Local Development, mortgage borrowing in the Czech Republic reached 72.7 billion crowns (3 billion dollars) last year, some 37 percent more than in 2004, with a total of over 51,000 new contracts. The average sum borrowed last year was more than 1.4 million crowns (58,000 dollars). A further increase is expected in 2006.