One does not expose oneself to the risk of a rent increase, which will not be affected and which has increased by more than 20 percent in one year in Prague. He also doesn’t have to worry about having to look for cheaper housing elsewhere. In the case of own housing, after a certain time, the repayment, in contrast to the rent, will disappear – the debt to the bank will be paid off.
In addition, a big advantage is that the property appreciates significantly over time and people have some real value. In short, by investing in oneself, a person invests in security.
According to current data from Eurostat, the price of real estate, and thus their value, in the Czech Republic increased year-on-year in the first quarter of this year, the most in the entire European Union, by 24.7 percent. The second largest jump was recorded by Estonia with 21 percent and Hungary with growth of 20.6 percent.
The author is the executive director of Central Group
(Editorially modified)
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