1. Cheaper homes help real estate comps raise sales in CR in 2010
(http://www.financninoviny.cz/english/zpravy/cheaper-homes-help-real-estate-comps-raise-sales-in-cr-in-2010/579596)
Czech housing sales improved in 2010.
High-level overview of article:
The majority of leading real estate companies reported a slight growth in Czech homes sales last year largely due to lower prices of older homes, according to a CTK poll among real estate agents.
Our take:
We think this will continue to accelerate in 2011. Please see our 2011 Czech Property Forecast.
2. Czech industrial production aided by German recovery
(http://www.ceskapozice.cz/en/news/economy/czech-industrial-production-aided-german-recovery)
High-level overview of article:
Recovery among key trading partners boosted Czech industrial demand in November; the auto sector driving growth, ČSÚ says,
Our take:
3. Unemployment in Czech Republic grows to 9.6 pct in Dec
(http://www.financninoviny.cz/english/zpravy/unemployment-in-cr-grows-to-9-6-pct-in-dec/579825)
High-level overview of article:
Unemployment in the Czech Republic grew by one percentage point to 9.6 percent in December against November, the Labour and Social Affairs Ministry announced today.
Our take:
That is a really big jump in one month and puts the unemployment much higher than we’d expected it would climb.
4. ‘Moravian Manhattan’ project receives approval
(http://www.ceskapozice.cz/en/business/real-estate/%E2%80%98moravian-manhattan%E2%80%99-project-receives-approval)
High-level overview of article:
Plans are on the table to build the highest building in the Czech Republic in Brno, the country’s second-largest city.
Our take:
This seems to be hitting the office market take-up revival with very good timing. They might do very well with leasing and this is a great addition to Brno which is sure to draw in more top level companies which require this type of office space.
5. Czech Executors Can Seize Property of Landlords Because of Default of the Tenant
(http://www.novinky.cz/finance/222478-exekutori-zabavuji-majetek-i-lidem-u-nichz-dluznik-jen-bydli.html)
High-level overview of article:
Bailiffs seize property for people who do not owe anything. It is sufficient for a person to offer residence to a relative, friend or other who is under execution and their personal belongings can be seized.
Our take:
Very scary! Shows the need to thoroughly check references beforehand. It also is a negative point about renting furnished apartments with luxurious items included.
6. Czech Banks Increase Lending But Borrowers Must Beware of Previous Debts
(http://www.novinky.cz/finance/222316-vyhodne-hypoteky-casto-pohrbi-stare-dluhy.html)
High-level overview of article:
Banks are falling over each other since the beginning of the year offering mouth-watering Czech mortgages, whether it’s low interest rate below five percent, the possibility of early repayment without penalties or mortgages up to 90 percent of the appraised property value.
Our take:
It mentions that offers are the same as the lows of 2007 and developers are reducing prices. That is great news for buy-to-let investors.
7. Amount of mortgages granted in Dec the highest since July 2008
(http://www.financninoviny.cz/english/zpravy/amount-of-mortgages-granted-in-dec-the-highest-since-july-2008/583956)
High-level overview of article:
Czech banks granted 6.106 new mortgage loans worth Kc10.3bn in December, up by Kc4.3bn on the year, which is the best result since July 2008, according to Fincentrum Hypoindex published on the www.hypoindex.cz. website today.
Our take:
With rate hikes on the horizon there could be a panic surge as buyers sitting on the sidelines move to secure Czech mortgages before rates go up. Good news for property prices.
8. Inflation outpaces expectations
(http://www.praguepost.com/business/7187-inflation-outpaces-expectations.html)
High-level overview of article:
The inflation rate has overtaken forecasts, pushed up by commodity prices and spurring speculation about whether the Czech National Bank (ČNB) will increase its crisis-level interest rate sooner than expected.
Our take:
9. Škoda Auto to create several hundred new jobs
(http://finchannel.com/news_flash/Oil_%26_Auto/79430_%C5%A0koda_Auto_to_create_several_hundred_new_jobs/)
High-level overview of article:
Škoda Auto is planning a growth surge for the coming years.
Until 2018, the company plans to at least double its sales. As part of this effort, the Czech manufacturer will create several hundred new jobs this year alone. They are looking for experts from all areas of the automobile industry.
Our take:
Great news for continuing strength in the all-important car industry making up a large part of Czech GDP.
Updated/Aktualizováno: December 8, 2014,