Czech Banks: People Will Still Deposit Money in Bricks, Housing Prices Will Double
- I woudl divide it into the residential segment, which is of interest to a wider audience, and commercial properties, i.e.
- I wouldn't have expected it, because it didn't quite make sense.
- I divide demand into three segments: people looking for housing, investors and those who want to invest money in real estate.
in what condition is the real estate market entering the new year?
Table of Contents
- in what condition is the real estate market entering the new year?
- And residences? Were you surprised by how quickly the housing market picked up again?
- What is the Digital Services Act (DSA)?
- Who Does the DSA Apply To?
- What are the Key Obligations under the DSA?
- What are the Penalties for Non-Compliance?
- What is the Relationship Between the DSA and the DMA?
I woudl divide it into the residential segment, which is of interest to a wider audience, and commercial properties, i.e. larger transactions. The commercial market is currently heavily driven by investor concerns about geopolitical risks and the stability of the economy as a whole.This has an interesting impact on the Czech Republic. In the second half of last year, activity revived for premium properties such as hotels and offices. Yields are falling, which means that commercial properties in the Czech Republic are being bought at a slightly higher price than in Poland or Austria.
And residences? Were you surprised by how quickly the housing market picked up again?
Frankly, I was surprised. I wouldn’t have expected it, because it didn’t quite make sense. But I am even more surprised by the current growth. The influence of deferred demand has mainly manifested itself. People have gotten used to higher interest rates. When they fell from seven percent to five percent, they said it was great. Moreover, they knew that they would not return to two percent.
I divide demand into three segments: people looking for housing, investors and those who want to invest money in real estate. The main one should be
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What is the Digital Services Act (DSA)?
the Digital Services Act (DSA) is a landmark European Union law that establishes a complete set of rules for online platforms and services operating within the EU,aiming to create a safer and more accountable online environment. It was adopted on October 4, 2022, and began to apply to all online intermediaries and hosting services on February 17, 2024, with stricter obligations for Very Large Online Platforms (VLOPs) and Very Large Online Search engines (VLOSEs) phased in thereafter.
The DSA addresses a wide range of issues, including illegal content, disinformation, online advertising, and the protection of basic rights. It shifts the duty for addressing these issues from individual users to the platforms themselves, requiring them to take proactive steps to mitigate risks. The law is part of a broader EU strategy to regulate the digital space, alongside the Digital Markets Act (DMA).
For example, Meta (Facebook and Instagram) was designated as a VLOP on April 26, 2023, and therefore subject to more stringent requirements under the DSA, including annual risk assessments and independent audits. You can find the official designation here.
Who Does the DSA Apply To?
The DSA applies to a broad range of online services that facilitate interaction between users and details, but the level of obligation varies based on the size and nature of the service. It covers intermediaries, hosting services, and online platforms, categorized into different tiers.
The DSA distinguishes between three main categories: (1) Intermediary services, which provide network infrastructure (like internet service providers); (2) Hosting services, which store information at the request of a user (like cloud storage); and (3) Online platforms, which allow users to share and disseminate information (like social media networks, online marketplaces, and app stores). Very Large Online Platforms (VLOPs) and Very Large Online Search Engines (VLOSEs) – those with 45 million or more monthly active users in the EU – face the most extensive obligations.
As of January 16, 2026, the European Commission has designated 45 VLOPs and vloses, including Alibaba, Amazon, Apple, Booking.com,ByteDance (TikTok),Facebook,Google,LinkedIn,Microsoft,Pinterest,Snapchat,X (formerly Twitter),and YouTube. A full list is available on the European Commission’s website: https://digital-strategy.ec.europa.eu/en/policies/digital-services-act-vloops-and-vloes.
What are the Key Obligations under the DSA?
The DSA imposes a variety of obligations on online platforms, designed to increase clarity, accountability, and user protection. These obligations are tiered, with VLOPs facing the most comprehensive requirements.
Key obligations include: (1) Content moderation systems: Platforms must establish clear and obvious procedures for removing illegal content and responding to user reports.(2) Transparency of advertising: Users must be able to easily identify sponsored content and understand why they are seeing specific ads. (3) Risk assessments: VLOPs must conduct annual risk assessments to identify and mitigate systemic risks, such as the spread of illegal content, disinformation, and negative impacts on fundamental rights. (4) Independent audits: VLOPs are subject to independent audits to verify their compliance with the DSA. (5) Data access for researchers: Researchers are granted access to platform data to study online risks and behaviors.
On March 12, 2024, the European Commission formally requested data from X (formerly Twitter) to assess its compliance with the DSA, specifically regarding the spread of illegal content and disinformation. The Commission’s press release detailing this request can be found here.
What are the Penalties for Non-Compliance?
Non-compliance with the DSA can result in notable penalties, including fines of up to 6% of a platform’s global annual revenue. The severity of the penalty depends on the nature and gravity of the violation.
The DSA also grants national Digital Services Coordinators (DSCs) the power to investigate and enforce the law within their respective member states. In cases of systemic violations, the European Commission has the authority to directly impose fines on VLOPs. Repeated serious infringements can even lead to a temporary ban on operating within the EU.
In December 2023, the European Commission opened formal investigations into TikTok and X (formerly Twitter) over potential breaches of the DSA, specifically concerning the protection of minors and the spread of illegal content.The official announcement of these investigations is available here.
What is the Relationship Between the DSA and the DMA?
The Digital Services Act (DSA) and the Digital Markets Act (DMA) are two complementary pieces of EU legislation designed to regulate the digital space, but they