Srovnání trhu s nemovitostmi v České republice a Německu během pandemie COVID-19

This thesis investigates the development of residential real estate markets in the Czech Republic and Germany during the COVID-19 pandemic. The thesis focuses on housing price developments and market dynamics, with particular attention to the influence of macroeconomic conditions, institutional frameworks and pandemic-induced spatial and behavioral changes. The research addresses three key questions: (1) which macroeconomic, financial and behavioral factors influenced housing prices during COVID-19; (2) how the housing markets in the Czech Republic and Germany evolved during this period; and (3) which country was more strongly affected and why. The theoretical section reviews the functioning of residential real estate markets and the determinants of housing prices. It discusses key economic theories, including asset-market approaches, housing supply constraints and urban spatial equilibrium, alongside recent empirical research on the effects of COVID-19, remote work and changing housing preferences. This framework provides the basis for interpreting market developments and cross-country differences. The practical section presents a comparative analysis of the Czech and German housing markets during the pandemic. Using descriptive and analytical methods, it evaluates housing price trends, market activity and structural characteristics. The findings indicate that although market activity temporarily slowed in both countries, housing prices continued to increase.