The European Investment Bank is backing an ambitious project to construct approximately 700 rental apartments in Prague with reduced rates. The initiative, supported by a €1.5 billion loan to Česká spořitelna, marks the country’s largest private affordable housing project to date.
The development, targeting essential workers such as healthcare professionals, teachers, and police officers, will span across several Prague districts including Chodov, Harfa, and Černý Most. Tenants will benefit from five-year contracts with rents set 20% below market rates.
Kyriakos Kakouris, Vice President of the European Investment Bank, emphasizes that this initiative will strengthen public services while promoting social inclusion and urban renewal.
Česká spořitelna, which initiated its affordable housing program in 2023, has already established itself as one of the country’s leading institutional landlords, with properties in Žďár nad Sázavou and Prague’s Střížkov district. The bank’s housing subsidiary collaborates closely with municipalities and institutions like hospitals, with remarkable success – seventy-five rental agreements have been signed since December, primarily by nurses.