A new survey reveals that eight out of ten Czechs consider buying their own home unaffordable in the current economic climate.
According to the Housing Future Index presented by Komerční banka, 88% of respondents also believe the situation is unlikely to improve in the near future. The Index highlights that many Czechs are saving for housing and seeking loans to help them acquire property, but high real estate prices and rising construction costs remain significant barriers to homeownership.
Ondřej Šuchman, housing loan manager at Komerční banka, emphasized the pressure caused by soaring real estate prices and construction expenses. “High real estate prices and the rising cost of construction work and materials create pressure, which is reflected in pessimistic expectations. Therefore, it is very important to find solutions to this situation, whether through financial instruments or support for more affordable housing options,” he said.
Despite these challenges, the majority of Czechs still aspire to own a home. A family house is the goal for 58% of respondents, while 13% consider renting the ideal option for their future. Currently, 76% of Czechs live in their own property.
The strong desire for homeownership is driving many to save for it. The Index shows that 31% of Czechs save regularly for housing, and another 19% save irregularly. Half of the respondents are saving for their children’s future housing needs, with most saving between 1,000 and 2,000 crowns per month. Additionally, interest in mortgage financing is on the rise, with 40% of people interested in mortgages and 16% in loans from building savings accounts.
