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Czechs continue to put more into building savings. The Czech Republic is the second strongest country for building savings.
Press center » Press releases » Czechs continue to put more into building savings. The Czech Republic is the second strongest country for building savings.
Dubrovnik/Prague, October 13th ? The popularity of building savings in the Czech Republic reached another important goal. Czechs with building savings now outnumber Austrians. The Czech Republic with more than 5.7 million contracts is now second amongst countries which provide building savings. Germany, with 25 million remains in first place. Austria is third with 5.2 million contracts. The information is according to the statistics for building savings.
The association of Czech Building Savings Banks added another successful note. During the building savings meeting in Dubrovnik it was determined that the Association will organize a large Conference on housing. The event which takes place every three years will take place next year in Prague. „We consider the opportunity to organize this Conference in the Czech Republic as a credit and acknowledgement of the current work being done by all building savings banks in this country,“ stated Chair of the AČSS, Vojtěch Lukáš.
Other Countries Implementing Building Savings
Support for housing isn?t only the domain of Central Europe. As of 2004 it has been implemented in China, is starting to work in Kazakhstan and for two years has been available to Romanians. New markets for building savings was one of the topics for the meeting of representatives of building savings banks in Dubrovnik.
„I can speak for all attendees and say that there was satisfaction with the fact that the idea of building savings is emerging in a larger amount of countries,“ stated Thomas Wieser of Austria, the President of the European Federation of Building Societies. According to Wieser, examples are clearly visible in the host country Croatia, where the mentality regarding housing is different than Central European countries.
Comparison of individual markets of building savings
| company | savers (contracts) | savings banks | for comparison |
|---|---|---|---|
| Germany | 25 million | 11 | 30 billion euros saved annually |
| Czech rep. | 5,7 million | 6 | Loans/deposits: 37 % |
| Austria | 5,2 million | 5 | 2,5 billion euros goes to housing annually |
| Slovakia | 1,4 million | 3 | State gives 10% assistance |
| Hungary | more than 1 million | 2 | 200 thousands new contracts last year |
| Croatia | 0,7 million | 5 | 150 thousands new contracts expected this year |
| Romania | 70 thousand | 2 | Maximum state assistance of 150 euros |
| China | 55 thousand | 1 | So far only available in the Tianjin province |
| Kazakhstan | in its infancy | 1 | State assistance up to 20 % |
For more information please contact:
Jiří Šedivý, Secretary of AČSS, tajemnik (at) acss.cz
Michal Uryč, Ewing Public Relations, uryc (at) ewingpr.cz
Vitejte na www.acss.cz
We are your adviser in the world of building savings.
The Association of Czech Building Societies in the Czech Republic (ACSS) comprises five building savings banks. It was founded on June 29, 2000, with the aim of supporting the joint interests of the building savings banks operating in the Czech Republic. It thus continued a long-term informal co-operation among the financial institutions.
You can get more information about the ACSS here.
NOT TO OMIT
ACSS advises: Home-building savings contracts signed in 2003 remain in full force and effect regardless of the expiration of the five-year saving phase. You can read more here.