Snížená sazba DPH a její dopad na cenovou dostupnost sociálního bydlení

This master’s thesis analyzes the impact of reducing the reduced rate of value-added tax (VAT) from 15 % to 12 % on the asking prices of newly built properties in the social housing segment in selected districts of Prague. The aim is to evaluate whether this legislative change, effective from January 2024, led to a full pass-through of the tax savings to buyers and a real improvement in housing affordability. The empirical part employs panel regression analysis, specifically random effects models, using a dataset from nine Prague districts over the period 2023–2024. In addition to the VAT rate, the models also include other factors such as the Consumer Price Index (CPI), mortgage interest rates, and the construction cost index. The results show that only approximately 59 % of the tax relief was reflected in the final asking prices. The remaining portion of the savings were absorbed on the supply side due to low price elasticity of the market, housing shortages, and rising construction costs. The thesis concludes that an isolated adjustment of VAT rates, without accompanying structural reforms on the supply side, is not a sufficiently effective tool for addressing the housing crisis.