Jan Lobo spoke about property ownership in an interview for Hypoindex

It is not a good time to buy your own home. It is definitely worth waiting, or solving the current housing situation by renting.

"In the Czech Republic, for many years there has been a clear trend towards owning one's own home, and the majority of the population would clearly choose to own a home financed by a mortgage or their own resources, given the choice. However, after the covid era we can see a different development, due to the central bank's fight against inflation interest rates are being raised to high percentages making mortgages more expensive, this has resulted in an increase in interest in renting housing rather than buying your own, it is logical money from banks are getting more expensive, and so people are increasingly choosing to rent rather than pay huge interest to the bank," says Jan Lobo of K&L Rock, adding that this trend can also be seen in the behaviour of large development groups across the country, where we are increasingly seeing projects being built with the intention of renting out apartments rather than selling them.

Some people interested in owning their own home have taken the big cities off their radar and are looking for properties in smaller towns with good transport links. Alternatively, they see rental housing as a transitional option before they save up for their own apartment or house, or at least for a mortgage.

Find the full article here.

Source: https://www.hypoindex.cz/clanky/zajem-o-pronajmy-je-nejvyssi-za-10-let-snum-o-vlastnim-bydleni-se-ale-lide-nevzdavaji/