Housing Finance Policy

    Text bolded/green below shows notes and variable definitions when you roll over. If you cannot see the notes, please download an Excel version from the Research Center, which includes notes. Also, a PDF featuring variable definitions is available in the document list under "Definition of Hofinet Variables".

     

    A. Legal and Regulatory Framework

    A.1 Legal and Regulatory Framework
    VariableEnd of 2016End of 2015End of 2014SourcesVar ID
    Basis of the legal system: Civil, Common, Islamic, Other? (Describe)CivilCivilCivil
    CIA World Factbook
    		A.1.1
    Are there specific laws that deal with mortgages? YesYesYes
    U.S. Department of State
    		A.1.2
    Registration/Transfer of titles:A.1.3
    Does the law clearly define different types of property rights?YesYesYes
    DLA Piper
    		A.1.3.1
     Are property rights easily transferable?YesYesYes
    Research
    		A.1.3.2
    Typical number of days needed for the transfer of title283131
    WDI
    		A.1.3.4
    Can liens be effectively enforced?YesYesYes
    BNT Law
    		A.1.4
    Number of months until lender acquires the property in case of foreclosure on a single-family residential property?999
    Deloitte Legal
    		A.1.4.1
    Are there legal constraints on mortgage features?YesYesYes
    Hypostat 2016
    		A.1.6
    Loan-to-Value capYesYesYes
    Hypostat 2016
    		A.1.6.2
    Are there consumer rights for mortgage lending? YesYes 
    CMS Law Now
    		A.1.7
    Are there disclosure requirements for mortgage lending?YesYesYes
    The World Bank
    		A.1.8
    Is there specialized legislation covering:A.1.9
    Issuance of covered mortgage bondsYesYesYes
    European Covered Bond Council
    		A.1.9.1
    B. Housing Finance Subsidies
    B.1 Subsidies to Housing Finance Institutions
    B.2 Subsidies to Households
    VariableEnd of 2016End of 2015End of 2014SourcesVar ID
    Are there subsidies to households on housing finance?YesYesYes
    Ministry of Regional Development CZ
    		B.2.1
    Buy-down of monthly/interest paymentsYesYesYes
    Ministry of Regional Development CZ
    		B.2.1.2
    OtherYesYesYes
    Ministry of Regional Development CZ
    		B.2.1.6
    Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
    C. Taxation
    VariableEnd of 2016End of 2015End of 2014SourcesVar ID
    What taxes apply to Residential Real Estate?C.1
    Tax on property (home-owners) YesYesYes
    Global Property Guide
    		C.1.1
    Property transaction taxes (purchase/selling)YesYesYes
    Global Property Guide
    		C.1.2
    Tax on capital gains on property YesYesYes
    Global Property Guide
    		C.1.5
    OtherYesYesYes
    Global Property Guide
    		C.1.6
    back to top | Country Data:
    Notes: almost 80% of the market share in the Czech Republic
    Notes: The real estate transfer tax is 4%
    Notes: This subsidy is provided in the form of a grant and oscillates between 1 and 4 percentage points
    Notes:
    Notes: 6-12 months
    Notes: 6-12 months
    Notes: 6-12 months
    Notes: Banks (excluding building societies) - refinanced loans of total mortgage loans
    Notes: Banks (excluding building societies) - refinanced loans of total mortgage loans
    Notes: Banks (excluding building societies) - refinanced loans of total mortgage loans
    Notes: Base Year
    Notes: Base Year
    Notes: Entire Country, not just urban
    Notes: Entire Country, not just urban
    Notes: Housing Finance Policy in Emerging Markets by Loic Chiquier and Michael J. Lea
    Notes: Housing Finance Policy in Emerging Markets by Loic Chiquier and Michael J. Lea
    Notes: Housing Finance Policy in Emerging Markets by Loic Chiquier and Michael J. Lea
    Notes: http://www.cnb.cz/en/statistics/money_and_banking_stat/mon_bank_stat/
    Notes: http://www.imf.org/external/pubs/ft/scr/2012/cr12175.pdf
    Notes: http://www.imf.org/external/pubs/ft/scr/2012/cr12175.pdf
    Notes: http://www.imf.org/external/pubs/ft/scr/2012/cr12175.pdf
    Notes: http://www.imf.org/external/pubs/ft/scr/2012/cr12175.pdf
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: In entire country, rented at market price, reduced, or free
    Notes: Maximum observed by IMF
    Notes: Maximum observed by IMF
    Notes: Maximum observed by IMF
    Notes: Maximum observed by IMF
    Notes: Maximum observed by IMF
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: Median equivalised net income * Average Household Size
    Notes: New mortgage loans for residential property
    Notes: New mortgage loans for residential property
    Notes: New mortgage loans for residential property
    Notes: New mortgage loans for residential property
    Notes: Regeneration of housing estate, housing apartments w/o barriers, support of construction of supported housing, leaden house distribution systems
    Notes: Rental income of 15% is applied to either: a) income minus expenses and deductions, or b) income minus a standard deduction of 30% in lieu of itemized deduction of expenses
    Notes: Rental income tax of 15% is applied to either: a) income minus expenses and deductions, or b) income minus a standard deduction of 30% in lieu of itemized deduction of expenses
    Notes: Rental income tax of 15% is applied to either: a) income minus expenses and deductions, or b) income minus a standard deduction of 30% in lieu of itemized deduction of expenses
    Notes: The CNB issues recommendations on the basis of the ESRB, FSB, and other international authorities
    Notes: The CNB issues recommendations on the basis of the ESRB, FSB, and other international authorities
    Notes: The CNB issues recommendations on the basis of the ESRB, FSB, and other international authorities
    Notes: The CNB issues recommendations on the basis of the ESRB, FSB, and other international authorities
    Notes: The CNB issues recommendations on the basis of the ESRB, FSB, and other international authorities
    Notes: The New Civil Code from January 2014 allows pledgee and pledger to set the terms in which a lien shall be enforced
    Notes: The New Civil Code from January 2014 allows pledgee and pledger to set the terms in which a lien shall be enforced
    Notes: The real estate transfer tax is 4%
    Notes: The real estate transfer tax is 4%
    Notes: The real estate transfer tax is 4%
    Notes: The real estate transfer tax is 4%
    Notes: The real estate transfer tax is 4%
    Notes: The standard income tax rate of 15% applies for capital gains
    Notes: The standard income tax rate of 15% applies for capital gains
    Notes: The standard income tax rate of 15% applies for capital gains
    Notes: The standard income tax rate of 15% applies for capital gains
    Notes: The tax rate varies according to property type and location
    Notes: The tax rate varies according to property type and location
    Notes: The tax rate varies according to property type and location
    Notes: The tax rate varies according to property type and location
    Notes: The tax rate varies according to property type and location
    Notes: The tax rates varies according to property type and location
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: There are various subsidies available for the regeneration, reconstruction and modernization of homes and social housing programs in the form of grants and loans
    Notes: This subsidy is provided in the form of a grant and oscillates between 1 and 4 percentage points
    Notes: This subsidy is provided in the form of a grant and oscillates between 1 and 4 percentage points
    Notes: This subsidy is provided in the form of a grant and oscillates between 1 and 4 percentage points
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: Total Domestic Credit: http://www.cnb.cz/cnb/STAT.ARADY_PKG.VYSTUP?p_period=12&p_sort=2&p_des=50&p_sestuid=1148&p_uka=5&p_strid=AACA&p_od=199301&p_do=201405&p_lang=EN&p_format=0&p_decsep=.
    Notes: various subsidies for regeneration, reconstruction and modernization of homes and social housing programs in the form on grants and loans