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Apartment Sales Have Stopped in the Czech Republic

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Few people are interested in buying an apartment, except financially secure investors. 

Real estate viewing has almost stopped in Czechia, but sellers are not yet ready to make discounts, according to real estate brokers.

Quote. "Only people with money come to view apartments. They have either a pre—agreed mortgage or cash," said Jana, a broker from a well-known network of real estate agencies.

"Up to 20 people were interested in an apartment each day a year ago. They checked it, and then solved the issue of financing. Today, five people come to see an apartment, two have already issued a mortgage, and three have cash. There are no auctions anymore," says Jana, who has been working as a broker for ten years.

"There are still a lot of buyers with money, the question is how long they will play the waiting game with sellers to buy a property cheaper," says Jan Vitvera from Home Portal.

Context. Expensive mortgages hit those who bought an apartment at a time of low mortgage rates, when they fell to 1.5%, even harder than new buyers. Now the rates are 6%, and for every million mortgages, according to the Czech Banking Association, monthly payments increase by about 2,000 kronor. 90,000 people expect to refinance their mortgages this year.

Propreties for sale in Czechia:
Flat for 242 250 euro in Marianske Lazne, Czech Republic
242 250 €
Flat in Marianske Lazne, Czech Republic
93 sq.m
Czech company Developerské Centrum is offering you this flat placed in Mariánské Lázně for sale. This flat 4+kt in very good condition provides 93 m² of usable space. Property is in personal ownership. Balcony is also part of the property. Place is furnished, located at 2 floor. Your new flat is nearer than you think, send message to...
TSentr Nedvizhimosti Marianskie Lazne
Flat for 923 200 euro in Prague, Czech Republic
923 200 €
Flat in Prague, Czech Republic
242 sq.m 6 4
Spacious apartment in Prague 2 for sale. It has 5 separated rooms + apartment has 2 terraces (20 sq.m.). Major repairs took place in 2007. You have a great opportunity to buy a perfect apartment in the Czech Republic, Prague 2 for living, renting out or invest in Czechian real estate with high return on investments.
Mercury Group
Villa for 2 500 000 euro in Prague, Czech Republic
2 500 000 €
Villa in Prague, Czech Republic
1472 sq.m
Czech Republic 40 km from Prague Modern villa in a park area Beautiful modern villa in a very picturesque corner of the Czech Republic just 40 km from Prague (30 min by car to the center of Prague). The infrastructure of the district includes all the facilities necessary for permanent residence: schools, kindergartens, shops,...
INDOM
Castle for 5 600 000 euro in Prague, Czech Republic
5 600 000 €
Castle in Prague, Czech Republic
4000 sq.m
Czech Olomouc, 250 km from Prague, 80 km from Brno Castle in the Eastern Czech Republic An ancient castle 25 km from the city of Olomouc in the eastern Czech Republic. The first written mention of the castle dates back to 1356. The building has been completely renovated with the preservation of the facade and...
INDOM
Flat for 160 243 euro in Marianske Lazne, Czech Republic
160 243 €
Flat in Marianske Lazne, Czech Republic
42 sq.m
Czech company Developerské Centrum is providing you this flat placed in Mariánské Lázně for sale. This flat 2+kt in after reconstruction condition provides 42 m² of usable space. Property is in personal ownership. Place is partially furnished, located at 5 floor. Your brand new flat is closer than you think, arrange appointment with Developerské...
TSentr Nedvizhimosti Marianskie Lazne
Flat for 147 874 euro in Marianske Lazne, Czech Republic
147 874 €
Flat in Marianske Lazne, Czech Republic
46 sq.m
Our company is delivering you this flat located in Mariánské Lázně for sale. This flat 1+1 in after reconstruction condition provides 46 m² of usable space. Property is in personal ownership. Balcony is included. Place is partially furnished, located at 2 floor. Your brand new flat is nearer than you think, send message to Developerské centrum...
TSentr Nedvizhimosti Marianskie Lazne
Flat for 208 046 euro in Marianske Lazne, Czech Republic
208 046 €
Flat in Marianske Lazne, Czech Republic
72 sq.m
Sale of an available 2+kk apartment (3+kk is also possible in the case of minor renovations) within the development project Rezidence FERDINAND, which is located at the end of Zeyerova street in Mariánské Lázně. The subject of sale is an apartment unit with a total floor area of 72.32 m2, which is located on the 3rd floor of a new apartment...
TSentr Nedvizhimosti Marianskie Lazne
Flat for 78 000 euro in Teplice, Czech Republic
78 000 €
Flat in Teplice, Czech Republic
71 sq.m 3 1 1
Rental property
Sale of real estate in Teplice, Czech Republic. The apartment, (private property) occupies the 1st floor, 2nd floor of the house, 71 sq.m. Furniture (antique furniture set), all household electrical appliances. Dining room and kitchen 16 sq.m. Bathroom 14 square meters. Yard, sauna, barbecue, front gardens, parking for cars and outbuildings,...
Private person

Source: 420on.cz
Photo by Anthony DELANOIX on Unsplash

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