Published on 06 April 2007 at 06:17 pm
Filed in Property News for Czech Republic » Is Commercial Property in the Czech Republic Still Attractive?
It’s no secret, the commercial property market in Prague has been highly popular with a broad range of international investors and yields and returns have been extremely attractive in recent years. The strategic importance of the city together with its impressive transport links and relatively affordable space that was once in abundance have led to Prague leading the commercial property market sector in the Czech Republic.
Turnover in the commercial real estate investment market in the Czech Republic grew by almost 50% last year but markets such as the Ukraine, Bulgaria and Romania are so hot on the Czech Republic’s heels and Prague’s commercial market is becoming oversaturated that the question has to be asked - ‘is commercial property in the Czech Republic still attractive?’ and opinion is apparently divided…
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Since the Czech Republic joined the European Union in 2004 the property buying process and related rules and regulations for foreign freehold ownership of real estate in the Czech Republic have been streamlined and simplified.
Having said that, the property buying process in the Czech Republic remains complicated and the ongoing property ownership rules can also be rather trying. This is why you will find many intermediary companies available in the Czech Republic all offering to assist you with your property purchase and management! If you wish to go it alone or at least have a good idea of what you’re about to get into then here’s the buying process in a nutshell.
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The property investment potential in the Czech Republic is substantial and built on the country’s strong economy and positive economic forecast for the medium to long term; meaning that this European Union member state is enjoying record levels of overseas interest in its real estate sector.
The majority of the property investment potential currently available and being enjoyed in the Czech Republic is focused in and around the capital city of Prague with secondary markets emerging in other major cities like Brno (pictured).
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Investment into the property market in the Czech Republic from overseas investors really began to take hold in 2004 when the country joined the EU. Since then real estate buyers have been attracted to the potential rental yields and capital growth available in some of the country’s major cities where demand for rental and resale property from domestic buyers is beginning to heat up.
The Czech Republic is a landlocked, former Communist central European country with an incredibly strong and prosperous economy which offers property investors a wealth of alternative investment opportunity - read on to discover more!
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