1. ČNB: Banks in ČR raise net profit by 10% in Q1-3
(http://praguemonitor.com/2009/12/03/%C4%8Dnb-banks-%C4%8Dr-raise-net-profit-10-q1-3)

High-level overview of article:
Czech banks generated an aggregate net profit of Kc40.2bn in the first three quarters of this year, a year-on-year growth of almost 9 percent, according to statistics made public on the Internet by the Czech National Bank (CNB) Wednesday.

Our take:
Well, their conservative approach seems to be paying off but we really feel that those lenders who open their doors a little earlier than the big players will make good profits on this time period.


2. Record state deficit sparks fears that Czech finances are spiralling out of control
(http://www.radio.cz/en/article/122772)

High-level overview of article:
Figures just out have confirmed that the Czech state is heading for a record-breaking and massive public deficit this year. Higher spending and a dramatic drop off in revenue from taxes could see a ten-fold jump in the deficit by the end of this year compared with last. Leading analysts are now warning that the debt and deficit powered public finances are heading off the rails.

Our take:
Welcome to the world of ‘developed’ countries. I am not the most authoritative on this but I really don’t know which countries don’t have a massive deficit in this crisis.


3. Apartment rental demand increases
(http://bydleni.idnes.cz/pronajmy-bytu-jsou-hitem-nabidka-je-vetsi-a-stoupaji-i-zisky-majitelu-1kd-/reality_bdp.asp?c=A091130_133223_architektura_web)

High-level overview of article:
Renting apartments is now better than a year ago. There has been a big increase in potential tenants and rental prices have increased.

Our take:
Good news for all current property owners. The timing is also great overall in terms of purchasing additional properties as yields are the highest they have been in three years and interest costs are close to all-time lows. Bad thing is that banks expect high amount of initial capital (minimum of 20%) and buyer must have a good provable income.


4. Czech Housing market gets boost
(http://praguepost.com/business/2988-housing-market-gets-boost.html)

High-level overview of article:
The government has approved a bill to guarantee loans for construction companies or individuals to build rental housing throughout the country in a dual effort to boost the frozen construction industry and tackle a nationwide housing shortage.

Our take:
An good move to keep living costs down for Czech citizens but effects probably will take two to three years to be felt. In the meantime owners with rental properties can expect increasing yields and less vacancy.


5. Analysts: Inflation returns to ČR, unemployment grows in Nov
(http://praguemonitor.com/2009/12/07/analysts-inflation-returns-%C4%8Dr-unemployment-grows-nov)

High-level overview of article:
Consumer prices have started to grow again in the Czech Republic after a fall seen in October, analysts polled by CTK said, putting inflation at 0.4 or 0.5 percent for November, with the biggest price growth seen by fuels.

Our take:
Normally inflation is not something that makes us happy but in the middle of this crisis it is good news!


6. Average wage in ČR grows by CZK 1,068 to CZK 23,350 in Q3
(http://praguemonitor.com/2009/12/07/average-wage-%C4%8Dr-grows-czk-1068-czk-23350-q3)

High-level overview of article:
The average monthly wage in the Czech Republic grew by 4.8 percent, or Kc1,068, year-on-year to Kc23,350 in the third quarter of 2009, the Czech Statistical Office (CSU) said Friday.

Our take:
Earning power continues to increase and this is good news for the strength of the resale property market.


7. Czech economy shows signs of recovery
(http://www.ft.com/cms/s/0/9c4ad4f6-e4b5-11de-96a2-00144feab49a.html)

High-level overview of article:
The Czech Republic is showing signs of recovering from the economic crisis, with third quarter gross domestic product growing by 0.8 per cent, helped by a revival in exports, according to data from the Czech statistical office released on Wednesday.

Our take:
Good news!