EU’s Hottest Property Market Fuels Aggressive Czech Rate Hikes
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Real estate prices in the Czech Republic are rising at the fastest pace in the European Union and have become one of the key reasons behind aggressive increases in borrowing costs.
Annual growth in Czech house costs accelerated to 22% in the third quarter, from 17% in the previous three months, well above the EU average of 9%, Eurostat data showed on Friday. Property prices are one of the biggest drivers of overall inflation, which the central bank expects to hit the highest level in two decades this month.