The Czech economy grew at a healthy pace, the country’s unemployment rate is at the lowest in decades, wage growth remained solid and inflation stayed under control. By most measures, 2019 was a good year for the country, former central bank governor Miroslav Singer says. But he cautions that while the Czech Republic has caught with some Western European countries in purchasing power, it has neglected investment in infrastructure for the long haul.
A survey conducted by the Institute for Evaluations and Social Analyses for
the Ministry of Labour and Social Affairs shows that 85 percent of Czechs
would support the establishment of some sort of social housing law. Most
respondents stated that they would prefer the establishment of social
homes, or special streets and neighbourhoods intended for the purpose.
Currently the Czech Republic is still waiting for a social housing law to be passed through parliament, despite the draft receiving government approval in 2017.
The price of flats in the Czech Republic is overinflated by 15 to 20
percent, according to the Czech National Bank. However, the bank board has
not changed its recommendations for mortgage lending. The forecast is that
the growth in real estate prices will slow in the coming months.
According to Deloitte, the price of an apartment in the Czech Republic rose to CZK 60,700 per square meter this year. An apartment with an area of 70 meters is selling for 4.2 million on average. In the large cities, especially Prague and Brno, prices are significantly higher.
The authorities in Prague 3 are offering students cheap accommodation in
municipal properties in exchange for spending time with the residents of
old folks’ homes, Novinky.cz reported on Sunday. The programme comes
partly in response to the fact that student dormitories are overcrowded and
commercial rents have skyrocketed in the city.
The students are required to spend 30 hours a month with seniors under the scheme. Prague 3 deputy mayor Ondřej Rut said it should bring together the generations and offer both fresh perspectives.