February saw Czech industrial production experience a year-on-year growth of 1.5 percent, according to the latest Czech Statistics Office report released on Monday. The growth was mainly the result of energy production. The automobile manufacturing sector experienced a decline, but improved compared to previous months.
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.
Interest in rental housing has seen a significant rise in recent months, in
response to the central bank tightening mortgage rules, the ctk news agency
reported citing real estate companies.
The interest in rental housing has driven rents higher, by an average 3 percent in Prague (to 340 crowns per square metre) but as much as 11 percent in the most lucrative areas.
The monthly rent for a medium-sized two-room flat in Prague is now between 15 to 19 thousand crowns, depending on its proximity to the city centre.
Around 9.6 percent of Czechs were threatened by poverty last year,
according to data released by the Czech Statistics Office on Thursday. The
number has grown by 0.6 percent on the previous year.
The poverty line is set at 11,963 crowns per individual and 25,122 per family with two children. The Czech Republic continues to rank among the EU countries with the lowest share of people under the poverty level.
The average monthly wage in the Czech Republic currently stands at 33,840 crowns.
The parties of the ruling minority coalition, ANO and the Social Democrats,
on Monday agreed to raise old age pensions by 900 crowns a month as of
This is perceived as a victory of the Social Democrats who vehemently opposed the 750 crown hike proposed by Finance Minister Alena Schillerová from ANO. Nevertheless the finance minister has stressed that the extra money spent on pensions will have to be saved elsewhere.
The two parties also agreed to raise the children’s allowance from 220,000 to 300,000 crowns. Altogether the hikes should increase state expenditures by 11 billion crowns next year.
The Czech Republic has the highest number of vacancies in the European
Union, according to Eurostat data.
In the fourth quarter of 2018 the ratio of vacancies to the overall number of jobs in the EU rose from 2.2 to 2.3 percent.
In the Czech Republic it rose by 0.1 percentage point to six percent, the highest figure in the EU. Second in line was Belgium and Germany with 3.4 percent, followed by Austria with 3.1 percent.
A new study by the Prague Institute of Planning and Development suggests
the Czech capital could face a sizable housing crisis in the future.
According to the report, which was quoted by news site iDnes.cz, the
city’s population will grow by 160,000 by 2030. To satisfy projected
housing demand, 8,000 new apartments would need to be built annually, a
representative of the institute said.
However, last year fewer than 5,300 flats were completed and developers say a log-jam relating to zoning and planning permits means the number will only decline further in the next few years.
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