Nearly Half of Czechs Spend More Than 30% of Their Income on Housing

Nearly half of people in the Czech Republic spend more than 30% of their net income on housing, while around one in 10 spends more than half. Housing is generally considered financially burdensome when rent, utilities and other related costs exceed 30–40% of household income. The EU average is around 24%. The findings come from a survey by Česká spořitelna and Evropa v datech, conducted with Ipsos among 1,000 respondents in February. Housing affordability remains particularly difficult for young Czechs. Among people aged 18 to 29, 58% live with their parents at least part of the time, while 29% live with friends or a partner. The survey found that 60% of people under 30 who are dissatisfied with their housing situation have postponed a major life decision because of it. For around one-third, this has happened repeatedly. Starting a family is among the decisions affected by housing conditions. Homeowners were considerably more likely to be very satisfied than renters, with 41% of owners describing themselves as very satisfied compared with 18% of renters. Czechia still has the least affordable housing in the EU The Czech Republic improved by six places in this year’s housing conditions ranking, reaching 17th among the... The post Nearly Half of Czechs Spend More Than 30% of Their Income on Housing appeared first on Prague Morning .