Current situation on the real estate market

6.8.2020

Before the outbreak of coronavirus crisis there was a significant excess of demand over offer in the real estate market, which led to a significant rise of prices. The arrival of the pandemic surprised both property owners and those interested in investing, and the market stopped for a while. So what is the situation now? Have people lost interest in buying real estate?

I would say that the interest in real estate continues, besause they have their undeniable utility value and their nominal value they hold in the long run.

I think that owners of quality real estate have no reason to compromise. There have never been enough quality real estate on the market in the Czech Republic, so prices remain stable here.

Event he question of the right timing is not important if you own an exceptional property.

There are many people interested in buying and they are ready to buy.

In addition, the state's efforts to help abolish the asquisition tax are welcome incentive, as is anything that will help ease the market situation. It i salso important to have very cheap financing with mortgage loans, which are very favorable in terms of their rate.

The situation with apartment sis slightly different, for which the coronavirus crisis also did not have expected effect towards lower prices. Here, on the other hand, average prices have risen in the second quarter, by 10.9 percentage points a year, according to mortgage bank index.

Apartments with a size of 2 + 1 and 2 + kk became the most expensive. Let us hope that this situation will also stabilize.

Ing. Ivo Drnovsky, real estate specialist 

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