Abolishment of the real estate transfer tax
The real estate transfer tax is supposed to be canceled as the draft law was further discussed during the meeting of Czech Chamber of Deputies. This change would mean that buyers are no longer subject to the 4 % tax rate of the tax base. Tax base was usually the...
Abolishment of the real estate transfer tax have been officially announced by the Government of the Czech Republic. This decision might be crucial for those who have been hesitating to purchase the property.
After the Board of the CNB decided to liberalize some of the limits last week, more applicants have higher chance to fulfill the requirements for obtaining the mortgage loan.
Even this spring increase of interest rate is not expected due to the current health situation. Although we were expecting interest rates to increase early this year, coronavirus have changed the situation on financial markets. The sharp decline of interest rates on interbank market affected price of money which means mortgage loans will be...
Looking to purchase a new apartment? If you are dreaming about purchasing an apartment in one of the main European cities, than we have a short price per square meter comparison. Find an average price per square meter of property in eight cities.
Are you paying a loan and wondering how the deduction of interests works? Tax deduction can be conducted while you are submitting periodic tax declarations. The mortgage interest deduction is offered as an incentive for a natural person - an employee or self-employed person. Paid interests are deductible from income tax base. This means your tax...
Growing interest in apartments in Prague is accompanied by rising popularity of single living. Recent data provided by the Czech Statistical Office suggests that in Prague 22% of women and 17% of men are living single. The largest housing developer in the Czech Republic (Central Group) confirmed this trend. While until 2010 men had been buying new...
At the end of the summer drops in interest rates have occured. This overall trend was concomitant to an accentuated reduction in the interest rate of the mortgage loans. Moreover, demand in new mortgage loans has decreased in 2019 compared to 2018 and 2017.
One of the Czech bank came out with a new mortgage product exclusively for foreigners. From now on they no longer have to have any type of residence in Czech republic in order to apply for a mortgage. Currently the only requirement is to prove that they have an income in Czech republic for two years. This new...
According to the latest news the Czech National Bank ("CNB") hasn´t changed the interest rates. We can expect the interest rates to be the same or lower during the summer and in the second part of this year.
