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Property prices keep growing in CR in Q4 - HB Index.

February 2019/

Prague, Feb 8 (CTK) - Market prices of flats, single-family houses and land went further up on the Czech market in Q4 annually, with prices of flats growing fastest and those of single-family houses rising at the slowest rate, Hypotecni banka (HB) bank has said.

Land plots saw the biggest price hike in qtr/qtr terms. Flats prices increased predominantly in the South Bohemia, Karlovy Vary and Usti regions, the bank said in a press release on Thursday.

Prices of flats posted an annual rise of 10.8 percentage points to 140.2 points, adding 2 percentage points compared to the third quarter, HB Index, a property price index, has shown. The basic index value of 100 points represents the real property prices on Jan 1, 2010. Prices of flats have risen by about two-fifths over the period. The qtr/qtr growth rate was the slowest quarterly hike last year, said HB property department head Petr Nemecek.

Family houses prices added 7.2 percentage points yr/yr to 129.1 points, with the qtr/qtr hike at 2.1 points. Land prices grew by an annual rate of 7.9 percentage points to 150.9 points, rising by 2.3 points in qtr/qtr terms. Prices may grow slower or stagnate in many regions this year and property demand will go down modestly, said Nemecek.

HB Index is based on real estimates of market prices of property bought by the bank's clients via a mortgage loan.

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