Property Investors Run Now For Prague in the Czech Republic
Czech Republic is showing great signs of growth and at time of writing offering overseas investors superb high loan to value mortgages. The time for investment is now and in particular the area of Prague
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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ABOUT THE AUTHOR
Nicholas Marr is the cheif executive officer of overseas property portal at http://www.homesgofast.com