If you own a property in the Czech Republic you are obliged to pay a property tax for another year by 31 May 2018. If you paid later (after 5 June 2018) you would receive a penalty from the Czech Tax Authority.
Every year the Czech banks attract potential clients to the banks. The spring campaigns have already started. What is the benefit for clients?
The Czech National Bank raised the key interest rate (2T repo) by 0.25% according to analysts expectation. The impact on interest rates on mortgages can be expected very soon.
If you buy e.g. a land, flat, cottage or apartment within the last year 2017 you will be required to file a property tax return.
The fact is that the Czech mortgage market has changed a lot within a few past months. We have new Act related to the loans started 1 December 2016, the payer of real estate transfer tax is the buyer (previously it was the seller) and the Czech National Bank increased basic interest rates twice this year.
On 2nd November 2017 the Czech National Bank increased the general interest rates by 0.25% again. The Czech banks will not wait with increasing the interest rate of the mortgages.
Probably you have noticed that the prices of apartments grew in few past years, especially in Prague. The increasing trend was very significant. The prices of the new apartments in Prague grew by 21.50% in the last 24 months. Currently it seems that the peak could be really close.
At the beginning of August Czech National Bank increased the interest rates after almost 10 years of declining and stagnating trend. The incresing was not too much significant - only 0.20%.
The interest rates of our clients are still below 2% p.a. The several last clients achieved the interest rates in the range between 1.79% p.a. and 1.89% p.a. which is great result due to the slightly increasing trend of the interest rates in the past months.
If you live in the Czech Republic you probably noticed the discussion about another new regulation on the Czech mortgage market and real estate market.
