Russians in Vary, Slovaks in Prague and young people without housing. What moves reality?
Buying and selling real estate. Started and completed development projects. Investment in concrete and bricks. Architecture. New names.
Forbes RealDeal is a regular summary that always serves you on the last day of the month to the most interesting things that have been happening on the Czech real estate and construction market in the past four weeks. Everything you need to know about real estate. In one place.
We ran a little with you last month. But honestly, who a few days after the Russian invasion of Ukraine was interested in the real estate market. It’s time to fix it!
the end? Not yet. Neither the war nor the Russians in Karlovy Vary. The local realtors are convinced that the Russian is declining will continue to bear the spa town. Property owners from the East are not panicking yet and are not getting rid of their apartments and houses. For now.
The most expensive, the most advantageous. Taste is a subjective idea, and if the reader is interested in what the author thought in the previous words, he can be convinced. The traditional Forbes ranking of the most expensive real estates in the Czech Republic includes several Karlovy Vary real estates that are now for sale. For hundreds of millions. Compared to the world, it is still good.
The worst? At all. Karlovy Vary has something to contain, even if the former prime minister does not think so. For example, living on the water, which should grow on the largest Czech lake in the coming years.
Passer for me. Thirty-five billion crowns. The amount he plans in the metropolis this decade to invest in Passerinvest Group, one of the richest Czechs, Radim Passer. The money will be invested in the construction of other commercial and residential projects in Brumlovka, where the elite of Czech business is based, and in nearby Roztyly.
Prague (s) matik. Billionaire Luděk Sekyra also pumps tens of billions into Prague’s development. Smíchov City and Rohan City are to be the showcase of metropolitan housing. When, how or why? Leoš Andrle, CEO of Sekyrův, is responsible.
I’m holding your place..Prague also attracts Slovaks. The neglected factory of the former Tesla Holešovice attracted the attention of the local developer Cresco, who will convert it into five hundred flats.
Which UDI? To Latin America! Developer Radek Menšíka, who does not like to build in the Czech Republic due to time delays, intends to move even further away from his homeland. After Poland, Hungary and Serbia, it is preparing to expand overseas with its UDI Group. He wants to build apartments worth three billion crowns in Costa Rica, Panama or Colombia.
Life is a change. On Friday, the conditions for obtaining a mortgage change and, unfortunately, for the worse. After two years, the limits for credit indicators come back into play, and with them further restrictions. With this step, the CNB announced a fight accelerating inflation and rising real estate prices. Unknowingly, but also to young materialists, to whom the dream of their own home has once again moved away.
Yeah, my home. The lucky ones who reach the mortgage can rejoice twice. With inflation above eleven percent and in uncertain times of war, real estate remains a sensible choice to protect money from devaluation.