czech republic investment property
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Czech Republic Investment Property: Exploring the Opportunities
Overview
Since joining the EU in May 2004, the Czech Republic has become an increasingly attractive destination for investment. As of 2007, with a thriving economy and rising consumer confidence, the market continues to offer promising opportunities for those seeking investment properties.
Booming Market in Prague
Prague remains the focal point for investment, offering accessibility with daily low-cost flights. Apartment prices in the city have surged by 20% annually, with rental yields between 7.5% and 8.5%. Investors can find properties ranging from £30,000 to several hundred thousand. For instance, PragueProperty4Less features several city developments priced between £39,200 and £250,000, projecting an annual capital appreciation of over 10% for the next five years.
Affordable Alternatives in Brno
For budget-conscious investors, Brno presents a viable alternative. Property prices here are about two-thirds of those in Prague. The city is experiencing significant redevelopment, with new projects offering units starting at £28,000. These are expected to be completed by 2008, with a family-friendly development available from £30,000 set for 2009 completion.
Expanding Horizons: Golf and Ski Resorts
Beyond urban centers, the Czech Republic’s golf and ski resorts present compelling investment options. The Obora Golf Village is a noteworthy development, with bungalows and villas priced between £146,200 and £228,400. Ski enthusiasts might consider opportunities in the Krkonose region or the family-friendly Sumava area, with properties starting at £51,000.
Growth in Central Bohemia
Central Bohemia, especially the town of Beroun, offers promising returns. Located 30km southwest of Prague, Beroun has seen property values increase by 20% over the past year. Trojans International offers 38 units starting at £20,000 in a modern refurbishment project called The Bakery, set to complete in September.
Conclusion
As one of the EU's fastest-growing economies, the Czech Republic continues to offer diverse and promising property investment opportunities. Whether in Prague, Brno, or the scenic resort areas, the market remains robust for those looking to invest in this vibrant country.
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