Udržitelnost vývoje cen bytů v České republice

The article discusses the housing market theory and the methods and indicators used for the evaluation of long-term sustainability of house price trends. The change in house price trends in 2007 in many countries could be interpreted as the result of the previous house price growth, often labelled as a price bubble. The authors assess the sustainability of house price development in the Czech Republic. The results show that house prices in the CR could be above their “equilibrium” levels at the end of 2007.