Formation of Land and Housing Markets in the Czech Republic

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Abstract
Czechoslovakia and its successor Czech Republic, after 40 years of Communist rule with state ownership of land and most housing, have been engaged deeply in restoring private ownership and recreating markets. Restitution and privatization return real property to private hands. Restitution, return of property to prior owners, is well on its way. Property not so returned is privatized: by auction, distribution of shares, or by bid. Markets are emerging; so are rent gradients and land use patterns familiar to Westerners. However, paucity of land records and price information, absence of mortgage funds, rent controls, and continued public ownership of much housing and farmland are among the impediments to full market formation. Given the nation's present acute aversion to public planning, the role of land use planning in shaping development remains unclear.

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