Czech banks are interested in entering the residential housing business.
ČS Dostupné bydlení: this is the name of the newly founded subsidiary of one of the largest credit institutions in the Czech Republic, Česká spořitelna. The goal of this major project is well defined: to create thousands of affordable housing.
To do this, the general manager of the bank Tomáš Salomon stressed that the search for partners will mainly focus on local authorities, while the work will be entrusted to construction companies. It is important to underline that sustainable construction projects will not be limited to the capital: the bank is already carrying out negotiations in Bohemia and Moravia.
The motivation behind this choice is interesting: “No bank can thrive in a society where access to housing is so difficult”.
Although the new company will be able to rely on the know-how of its parent company, the Erste bank, which is already involved in construction projects in Vienna, this is not necessarily synonymous with guaranteed success.
In fact, experts argue that the projects managed by the municipality will still have to deal with the same difficulties that private investors have. Long and complicated authorization procedures and inefficient bureaucracy not only delay the construction of new homes but also contribute substantially to the increase in costs.
Source: www.idnes.cz
Sources of images: Storyset.com
