Stanjura in ČT: The government will allow pension fund investments in housing yet this year

Prague - The government wants to enable investments from pension funds into housing still this year. According to Finance Minister Zbyňek Stanjura (ODS), the funds are ready to invest tens of billions of crowns. He stated this today in the Czech Television program Questions of Václav Moravec (OVM). Shadow Finance Minister Alena Schillerová (ANO) considers it pre-election rhetoric. Deputy Governor of the Czech National Bank Eva Zamrazilová pointed out that a complex construction approval process is a significant obstacle to larger construction in the Czech Republic.

The availability and quality of housing in the Czech Republic ranked fifth worst among EU countries last year. Among the European twenty-seven, the Czech Republic was in 23rd place, declining by one position compared to 2023. The reasons are primarily rising housing costs and insufficient construction, as indicated by last year's Prosperity and Financial Health Index compiled by Česká spořitelna and the Europe in Data portal.

The entry of pension funds, according to Stanjura, will require a change in the law. "But we will definitely change it within the laws being discussed that are already in the Chamber of Deputies," he said. The government will also prepare a change in tax law regarding cooperative housing. "So that cooperative housing has the same advantages as when you take a mortgage or a loan from a building savings for housing," he added.

The government aims to implement most of the housing support tools still this year. After launching all tools, the cabinet is aiming for the long-term construction of "high thousands" of apartments annually; according to Stanjura, 10,000 apartments is realistic.

"I find it amusing now at the end of the election period, I would say it falls under the slogan 'a promise does not cause sorrow'," said ANO Vice Chair Schillerová in response to Stanjura's words. "On the contrary, I want to promise citizens, we certainly are not sleeping; we are also negotiating with those who understand this. If we enter the government, we will already have those laws prepared, not that we would prepare them for a year," she added. In this context, she mentioned the amendment to the building code, the conditions for cooperative housing, and the support for the construction of school dormitories.

If 10,000 new apartments were built annually, according to Zamrazilová, it would represent a quarter of what has been built in the Czech Republic in recent years. "But to me, the main problem is the regulation of building proceedings," she stated. "It is a long-term politically unresolved problem. In my opinion, it is passively aggressive officials who are hindering this. It is necessary to push those officials at the lowest levels and ensure that the valid deadlines are adhered to," she added. She described the availability of housing in the Czech Republic as poor.

Prime Minister Petr Fiala (ODS) said this week that 92 projects have applied for financial support for the construction of affordable rental housing. The total support should amount to 5.1 billion crowns, of which 3.2 billion is allocated for preferential loans and 1.9 billion for one-off grants. The funds should result in nearly 1,500 rental apartments. Support for affordable housing from the State Investment Support Fund is intended for the construction of rental apartments and can be used for new construction, renovations, or extensions.