An interview with Pavel Parizek from our Brno property office regarding the Brno real estate resale market so far in 2012.



Nathan: Pavel, what’s happening with property prices in Brno right now and over the last four, five months?

Pavel: So last part of the year 2011 there was small decrease of the prices over all in Czech Republic as the Czech statistic bureau said and showed on their websites. But on the other side, we experience that the Brno flats are doing quite well. The small flats are doing even a little bit better. And, as usually, the bigger flats have dropped a little bit on the price.

Nathan: Okay, and the influences that are affecting the market that way?

Pavel: I think, mainly, it’s the instability of European Union because some people they do not know or other people do not know what happened with the European Union. They do not know what will happen with the employment so they’re a little bit afraid to by flats for mortgage. On the other hand, what I think it’s very good, it’s the mortgages itself, cause right now we are able to get very cheap rates. Friend of our that we cooperate with, you get even 2.99.

Nathan: That’s incredible.

Pavel: Yeah, he has some very known people there that he talked to before he get the rate.

Nathan: Yes. Good connections.

Pavel: But on the other hand, it shows that you can get even a four percent you’re your investments property which makes a really big difference.

Nathan: That’s exceptional. Very good. A lot of investors are talking to us now about selling their flats for different reasons. Do you have any recommendations for that?

Pavel: If they can refinance somehow the mortgage then it would be usually better to keep the flat because with the new interest rate, the better interest rate, the cash flow could be even equal which make the investments return really good. On the other hand, if they insist on selling the flat, then I would recommend them to choose very carefully their marketing strategy to make their marketing their flat a little bit different than the other flats are in the market, cause there’s a lot of flat for sale at the moment.

Nathan: Okay. Excellent. Thanks very much, Pavel, for your feedback.

Pavel: Welcome.

Updated/Aktualizováno: July 22, 2014, Czech Point 101