One out of eight Czechs lives with relatives, as housing is not available!

For many people in the Czech Republic, housing has become out of reach. One-eighth of the Czechs live in multi-generational houses and nearly half of these say this because, according to a recent mortgage bank Wüstenrot survey, they are unable to reach their own homes.دليل

The Czech Republic's housing prices have risen faster than the EU average. The prices of housing in the third quarter of 2019 rose 8.6 percent year-on-year, while in the 27 EU, excluding Great Britain, rose 4.6 percent. Latvia alone has seen a greater increase than the Czech Republic.

In Q3 2019, Czech housing was 43.3% higher than in 2015, while in the EU-27 it increased 21.0% at the same time. Again, there was only a bigger increase in Latvia.

It's not always the younger generation with an older generation. In total, 13% of Czechs share homes with other generation family members. They're most often their own parents. 52%, or 32%, for children already growing up, according to the Wüstenrot study.

More than a fifth of the population of households of several generations have two generations of distant family members, including grandchildren or grandparents. And 18 percent live with the parents of their partner.

"People use housing with relatives both for generational solidarity and for addressing existing and long-term housing demands. The undeniable benefit of the agreement lies in the proximity to the family and the advantageous distribution of housing costs, which can save hundreds of thousands of people a year," Jirí Procházka, the Wüstenrot financial group product manager, said in a press release.

Nearly half, 48 percent, of respondents live in a house of several generations, mainly because they are not able to afford their own housing. Furthermore, 36% said they could not afford a mortgage and 20% did not find a proper apartment or house for purchase, regardless of the funding. The absence of schools or other necessities in the area where people want to live was 17%.

Although the majority of multinational coexistence is a necessity, 70% of such residents say they will live with relatives permanently.

Czech families are also helping each other in shared housing. Family members most often advise and discuss issues all around the house (45%), assist in housework (38%) or use common family savings (18%) to cover housing costs. Only 16% say that family members who live with them are of no help.

"Czechs are particularly willing to assist in adjusting or renovating the house, or in the physical work or in money provided by joint savings. But so often they don't touch their own pockets. Ensuring that another family member has a loan and paying the cost of living is an exception in the Czech Republic," Procházka said.

The housing and finance survey was carried out by the independent research firm Ipsos for Wüstenrot. Data were collected online in November and December 2019 with 1,000 respondents aged 18-99 and standardized for residence and education in terms of gender, age, size and size.

The increase in housing prices has been linked to a lack of new market supplies, as well as many apartments in cities being used for short term tourist rentals. Developers blame for the high burden on building permits to slowly add new housing stocks.