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Olomouc newsOlympus Medical Products Czech is transferring to Přerov the development and production of endoscopes from Germany and Southeast Asia, thus centralising operations and creating up to 150 highly skilled jobs. — December 2009Olomouc. Think ‘Prague’ 10 years ago.
Never heard of Olomouc? We feel this is a very good thing. Our goal is to get investors into investment opportunities that are currently ‘under the radar’.
Olomouc is a city of about 100 000 with 20 000 university students. The university was last reported as having accommodation for only 5300 students and is not interested in expanding this. As you can imagine, these numbers put very good pressure on the rental market.
Olomouc is a city that is also in a very strategic location. The only Czech city outside of Prague on the intersection of two primary national and international motorways there are indications it will become even more of a logistics center in the near future.
Property appreciation spike — on the horizon
With first Prague, then Brno and most recently Ostrava having a very strong year or two of capital growth, we feel it is time for the ‘third-tier’ cities to catch the wave.
Olomouc has had a steady 10 to 15% price growth over the last three years but it does not compare to Ostrava’s 35% of 2007 or Brno’s two consecutive years of 25% growth. This means that rental yields are good in Olomouc—6% to 7%—with a fantastic outlook for the immediate future.