Prague Daily Monitor:
According to Morgan Stanley’s latest model portfolio, international firms should increase their holdings in the Czech Republic but withdraw funds from Turkey, South Korea and Hungary. [ HN 24 ]
Bozetechova Project, Brno, Czech Republic
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CZECH POINT 101 offers top quality flats with no real estate fee or commission. Please visit our
rental blog page which gives full information and pictures.
Spolecnost CZECH POINT 101 s.r.o. nabízí kompletne zrekonstruované byty nejvyšší kvality bez jakýchkoli poplatku realitní kancelári. Mužete získat na našem blogu, kde najdete veškeré podrobnosti vcetne fotogalerie.
From Prague Daily Monitor:
Financial analysts believe the Czech and eurozone economies have weathered the worst period of the downturn, Hospodářské noviny reports. Patria Finance analyst David Marek predicted the Czech economy will shrink more slowly in the second half of 2009, but the unemployment rate could reach nearly 10%, leaving 570,000 jobless. The country’s GDP declined 3.4% in the first quarter as exports and industrial production plunged. [ HN 3 ]
http://praguemonitor.com/2009/06/22/mps-turn-down-easier-access-foreigners-purchases-flats
Our attorney feels the Land Registry will not change its current procedure of accepting EU law as higher than Czech law. We have experience with one purchase already with a foreigner and the Land Registry did not require residency or SRO.
24 of the 36 larger flats are rented. 48 of the 50 smaller flats are rented.
From Prague Daily Monitor:
Analysts surveyed by the Czech NationalBank predict that the euro will be traded for CZK 25.12 next May. Yesterday, the euro stood at CZK 26.85. [ HN 23 ]
Prague Daily Monitor:
Rating agency Moody’s said yesterday that the threat of the financial crisis in the Czech Republic and its neighbours has faded. Though these countries’ economies are weak, there is no threat of investors stemming the flow of money into them or of foreign banks getting rid of their local subsidiaries, Moody’s said. [ HN 1, 15, E15 6 ]
We haven’t looked yet at where Knight Frank have gotten their statistics for this report but it definitely shows that the Czech property market has remained healthy.
“Israel is the surprise top performer in the world property market in the first quarter of 2009 with real estate rising 10.9% followed by the Czech Republic at 9.9%, according to a new report.
But the global housing markets continue to struggle against a backcloth of economic stagnation or decline and rising unemployment, says the Global House Price Index from Knight Frank.
The worst performers in the first three months of the year were Latvia where property prices fell 36% followed by Dubai, down 32% and Singapore where the market declined 23%. Next worst were the US, down 16.9% and the UK, down 16.5%”
Read full article: http://www.propertywire.com/news/related-stories/israel-czech-republic-real-estate-200905233123.html
From Prague Daily Monitor:
GDP in 10 newer EU member states in CEE will drop by some 3% in 2009 but could start growing at the end of the year, according to a World Bank forecast. The bank did not issue forecasts for individual countries, but Reuters quoted World Bank analyst Kaspar Richter as saying the Czech economy is among the region’s most stable. [ HN 21 ]
Mortgage stats for April continue downward trend and the banks seem to continue to tighten lending, especially to foreigners and those who are purchasing for investment: http://praguemonitor.com/2009/05/21/volume-mortgages-čr-down-nearly-third-april
From Prague Daily Monitor:
ČSSD deputy head and Shadow Finance Minister Bohuslav Sobotka said the state budget deficit is so large that it will not be the next government but the one after that introduces the euro in the Czech Republic. Sobotka said he would consider it “a great success” if the country is able to enter the eurozone by 2014 or 2015. [ HN 1, 4, Právo 4 ]
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