Czech real estate prices to fall at slower pace next year.

By bne IntelliNews October 10, 2011
Czech real estate prices will continue to decrease next year but at a slower rate, CTK newswire reported citing Petr Vlasek, sales director of real-estate agencies chain The decrease in prices is mainly due to the unfavourable developments in the euro zone and the governments austerity measures. Prices of flats and prefabricated houses in less attractive sites will register the steepest declines, while prices of land plots in some localities may increase. Vlasek expects prices to stagnate in the remaining months of 2011 supported by the usual moderate revival of market in this period of the year and the low interest rates on mortgage loans. Despite the falling prices, the Czech Republic remains one of the most attractive markets for property investment in Central Europe. According to recently published report by real estate consultancy Cushman & Wakefield, the country attracted EUR 1.9bn in property investments in the first nine months of 2011, making it the leading central European market.
Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more

Tesco Czech faces fine for selling products containing undeclared horsemeat

The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more

Czech Senate votes to limit immunity of lawmakers, judges.

The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more