Financial Unavailability of Housing in the Czech Republic and Recommendations for Its Solution

Hromada, Eduard

doi:10.52950/es.2021.10.2.003

Cited by 32 publications

(27 citation statements)

References 3 publications

(3 reference statements)

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“…Second, compared to other countries, such as in Eastern Europe, the younger generation become less interested in buying housing because of increased housing prices. In Dubai, the 30s only comprise 31 % among the owners of apartments [ 74 ].…”

Section: Discussionmentioning

confidence: 99%

Analyzing the Housing Consumer Preferences via Analytic Hierarchy Process (AHP) in Dubai, United Arab Emirates

Jung

Qassimi

Mahmoud

et al. 2022

Behavioral Sciences

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Dubai was one of the top three real estate destinations in the world for investment in 2020. This paper aims to understand the order of preference for various housing determinants by housing consumers in Dubai. As a methodology, a survey was conducted on Dubai residents, and Analytic Hierarchy Process (AHP) was performed to identify the housing determinants and consumers’ preferences. In addition, the respondents’ demographic characteristics identified priorities by income, place of residence, age, gender, and type of house. The results showed that housing consumers place importance on housing price and rent (0.0918), and the investment value (0.0866). However, there was no serious consideration for social and psychological factors, other than safety (0.0730). Regarding gender, men place more importance on the housing price and rent (0.113), and the investment value (0.110). In comparison, women place more importance on factors such as the convenience of transportation (0.104), safety (0.093), and residential environment (0.082). In the age groups, the interest in the educational environment (0.081) among the 40-year-olds was relatively high. In terms of monthly income, the higher the income, the higher the interest in investment value (0.086).

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Section: Discussionmentioning

confidence: 99%

Analyzing the Housing Consumer Preferences via Analytic Hierarchy Process (AHP) in Dubai, United Arab Emirates

Jung

Qassimi

Mahmoud

et al. 2022

Behavioral Sciences

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“…The core of this issue is rising housing costs surpassing household income increase [31]. Housing affordability, particularly for starters, has become a significant concern in recent years [32,33]. According to United Nations Habitat, more than 880 million people around the globe live in slums.…”

Section: Housing Affordability and Sustainabilitymentioning

confidence: 99%

Housing Sustainability: The Effects of Speculation and Property Taxes on House Prices within and beyond the Jurisdiction

Rauf

Weber

2022

Sustainability

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Housing plays an essential role in sustainable governance due to its socio-economic and environmental connection. However, the relationship between governance policies, market behavior, and socio-economic outcomes varies geographically and demographically. Therefore, segregated policies developed and implemented may fail to achieve their desired objectives because of the sensitivity of housing policies for their connection to human wellbeing. The effectiveness of housing policies in geographically connected regions is one of the areas that has received little attention in the Canadian context. The study follows a multi-step empirical method using a multiple linear regression model and a difference-in-difference approach to assessing the geographical variation of speculation and property taxes on housing markets. The study confirms that speculation taxes are not an effective tool in curbing house prices. Similarly, considering the role of property taxes in providing public services, delinking property taxes from a potential contributor to house prices would provide a better lens to develop local housing policies. Furthermore, the study also confirms that the housing market can be better assessed at a local scale, considering geographical influence in conjunction with investment trends.

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“…Regarding the situation in the Czech Republic, we can mention that in the last years, there was a significant change in the Czech real estate market and the possibility of owner-occupied housing, mainly due to low interest rates enabling rising real estate prices (Čermáková 2022). However, the era of low rates is already gone in 2022, as the CNB has significantly raised rates to anchor inflation expectations, cooled down aggregate demand, and reduced inflation imports due to the global negative supply shock (Hromada 2021a). At the base of study on the Korean market (Igan 2011), transaction activity in the real estate market is already declining during the first three months after the tightening of LTV or DTI limits, the dynamics of growth in real estate prices respond with a decrease with a delay of another few months.…”

Section: Literature Reviewmentioning

confidence: 99%

Application of DSTI and DTI macroprudential policy limits to the mortgage market in the Czech Republic for the year 2022

Venhoda¹

2022

IJOES

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This paper deals with selected instruments of macroprudential policy, the determinant of which is the amount of the monthly net income of the mortgage applicant. In November 2021, Czech National Bank reintroduced maximum DSTI as debt service indicators and DTI as income indicators with the view to the progress of real estate market in the Czech Republic. The paper discusses which of the limits will be more decisive for mortgage applicants in the conditions of rising mortgage interest rates in 2022 after the repeated increase in the base rate by the Czech National Bank. We will find out for which interest rate the DSTI or DTI is more important and which of the limits will be entirely irrelevant for almost all mortgage applicants in 2022, even with regard to age according to the legal conditions.

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Financial Unavailability of Housing in the Czech Republic and Recommendations for Its Solution

Cited by 32 publications

References 3 publications

Analyzing the Housing Consumer Preferences via Analytic Hierarchy Process (AHP) in Dubai, United Arab Emirates

Analyzing the Housing Consumer Preferences via Analytic Hierarchy Process (AHP) in Dubai, United Arab Emirates

Housing Sustainability: The Effects of Speculation and Property Taxes on House Prices within and beyond the Jurisdiction

Application of DSTI and DTI macroprudential policy limits to the mortgage market in the Czech Republic for the year 2022

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