The Czech Republic is now ripe for investment with high
loan to value mortgages, low priced real estate and a easy
buying process the time is now. I highlight the city of
Prague as one of the best places to secure an investment
property.
Prague brings to the mind differing aspects of this
beautiful city. Some may think of stunning architecture,
others will think of a former communist country whilst
others may think of stag parties and the wild nights out.
The property investor needs to think differently about a
city to invest. Prague and the serious property investor On
the face of it investing in Prague seems a great idea but
as all property investors know your profits are made on the
purchase price and has Prague already peaked. Its pointless
buying at the top of the market to receive the same profits
as you would have in your own country. The city to invest
needs to provide that 'X factor' that little extra that
lets you know that investing in the region really does make
sound investment sense.
Prague has all the hallmarks of a great place to invest. It
is a city that is a desirable location with a thriving
tourist industry which is easy to get too. Its popularity
is not governed by seasons and the ambience of Prague is
second to none.
Prague is changing with brand new property developments
springing up over the city. It is also attracting overseas
property investors to buy property in the city.
The capital city of the Czech Republic is seeing some fast
rising developments alongside international investment in
its economy. The combination makes this city a great place
to look for real estate investors who want a home in this
part of Europe or a place to earn some rental income.
Parts of Prague are seeing new developments spring up
quickly, and these properties are also appreciating in
value just as quickly. Over the past several years there
has been nearly 20% annual increase in property values.
This is one of the more developed cities in Eastern Europe,
however it is still relatively inexpensive when compared to
some Western European locales. Additionally, Czechs tend to
prefer new property to older, restored places, so some of
the more classical properties in downtown aren't nearly as
expensive as they might be elsewhere. This is something to
keep in mind when looking for buy-to-let properties.
Several developments that have gone up in recent years
include Central Park Praha and Andel City. Central Park
offers high-end luxury accommodations aimed at urban
professionals, while Andel City is a mixed use complex
containing a hotel, cinema, residential property and
business towers.
Margund Schuh of UBM Bohemia, the developer behind Andel
City, is aware of the desirability of new buildings and
properties. "Newly built property, on average, has
increased more in price than old, except well-refurbished
places in special locations," she notes. At the same time,
she is very pleased with the impact of projects such as
Andel City on Prague. "I strongly believe that projects
like Andel City have had a positive impact on the city's
atmosphere by changing an inner-city factory district into
somewhere with a perfect living and working environment and
a very good infrastructure." With new development and lots
to offer, Prague is a location that is drawing investors
from near and far. It's a good time to take a look at this
historic and thriving city.
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Nicholas Marr is the cheif executive officer of overseas
property portal at http://www.homesgofast.com
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