Young singles are increasing demand for apartments and mortgages

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 houses or apartments, since 2015 this trend has reverted. Women are buying new houses/apartments more often than men.

Woman are prioritizing small apartments as it gives them not only higher chance to obtain mortgage loan, but it will also ensure the ageing well. Michaela Tomášková, Central Group CEO explains: "Women think about the future more than man do, owning the property provides them certain level of guarantees and suitable way for maintaining living standards in old age. In addition, owning the property proves the economic independence of women." (source: Nový byt v Praze kupují nejčastěji ženy ve věku 40 let. Trh určují hlavně singles - Central Group 2019, Prague).

Young single people take out nearly a half of mortgage loans granted in Czechia, with men deciding to invest in their housing at the age of 36 and women a year later, according to data of UniCredit Bank. Male singles borrow an average CZK 2m and female singles' loans are CZK 300k lower on average, said UniCredit Bank's Petr Plocek (source: Singles take out almost half of mortgages in CR - UniCredit Bank 2019, Prague).

Couples are provided with loans worth CZK 2.3m on average. If you want to identify possibilities for obtaining mortgage loan, don't hesitate to contact us!