Survey: Only 7 percent of Czechs see home ownership as realistic goal

Only 7 percent of people in Czechia who do not already live in their own property consider buying a home affordable, according to a survey by Komerční banka and Ipsos.

Across the broader population, 83 percent described homeownership as unaffordable. Nevertheless, around 1.4 million adults hope to buy a house or apartment within five years, rising to more than 2.2 million over the next decade.

The research questioned 1,500 respondents, along with an additional sample of 346 members of Generation Z, broadly defined as people born between 1997 and 2012.

The survey’s Housing Future Index scored Czechia at 45 points out of 100, with Generation Z recording 44.

A score of 100 would indicate that people were living in their ideal homes, while zero would reflect complete dissatisfaction. Housing affordability received the weakest component score at 26 points.

Energy savings, sustainability and innovation performed best, reaching 55 points.

Among respondents who do not own their homes, one-quarter believe buying could become affordable for them within 10 years. Generation Z was more optimistic, with 39 percent expecting ownership to become attainable over that period.

However, 77 percent of respondents expect newly built homes in large cities to become more expensive over the next five years. The same proportion anticipates higher urban rents and rising prices for land intended for family homes.

Two-thirds also expect older properties requiring renovation to increase in price.

Some 59 percent of Czech respondents currently live in a home they own, while 69 percent own or co-own at least one property.

Among Generation Z, 43 percent own or co-own some form of real estate. Family homes are owned or partly owned by 21 percent, although the figures may include property acquired jointly or through inheritance.

Housing arrangements vary sharply by age. Two-thirds of those aged 18 to 21 live with their parents, compared with 45 percent of people aged 22 to 25 and 18 percent of those aged 26 to 29.

Overall, 41 percent of Generation Z remains in the parental home and 32 percent lives in rental accommodation.

“Young people are not giving up on the traditional idea of living under their own roof,” said Monika Truchlíková, director of building society Modrá pyramida.

Within 10 years, 42 percent of Generation Z respondents hope to acquire a house and 39 percent an apartment. Less conventional ambitions include mobile homes, cited by 16 percent, and tiny homes, selected by 12 percent. Another 29 percent plan to buy land.

Half of prospective buyers expect to finance their purchase with a mortgage, while one-third plan to rely on their own savings.

Almost one-quarter expect to combine savings with another type of loan, and 18 percent anticipate financial assistance from their parents.

Dependence on borrowing and family support is higher among younger buyers. Of Generation Z respondents planning a purchase, 69 percent expect to take out a mortgage, 28 percent would combine savings with another loan and 26 percent anticipate help from their parents.

Renovation may become an even larger part of Czech housing demand: nearly three million people say they plan to renovate a property within the next five years.