Czech Republic Property News Wrap-up :: Weeks of June 28th to July 23rd

Czech Point 101 December 9, 2014 @ 1:05PM

I apologize but because of personal holidays and staff holidays two updates were combined into one.

1. Czech Central Banker Sees Rates at Record Low for ‘a While’
(http://www.businessweek.com/news/2010-07-08/czech-central-banker-sees-rates-at-record-low-for-a-while-.html)

High-level overview of article:
Czech central bank Governor Miroslav Singer, who took office last week, said interest rates are likely to remain at a record low for “quite a while.”

Our take:
Good news and hopefully lending rates will also stay down.


2. Inflow of FDI to Czech Republic up at CZK 53.3bn in Q1
(http://praguemonitor.com/2010/07/09/inflow-fdi-%C4%8Dr-czk-533bn-q1)

High-level overview of article:
The inflow of foreign direct investments (FDI) to the Czech Republic rose by Kc17.3bn on the year to Kc53.3bn in Q1 2010, according to an analysis of the Czech economy released by the Industry and Trade Ministry yesterday.

Our take:
Last year was extremely low so it is no surprise to see these types of growth numbers.


3. Analysts: Situation in Czech industry improving
(http://praguemonitor.com/2010/07/12/analysts-situation-czech-industry-improving)

High-level overview of article:
The industrial output growth in May indicates improvement in the Czech industry, analysts polled by CTK said Friday.

Our take:
This is great news as industry is such a fundamental element of the health of the Czech economy.


4. Unemployment rate estimated to be flat in June
(http://praguemonitor.com/2010/07/12/unemployment-rate-estimated-be-flat-june)

High-level overview of article:
Analysts polled by CTK estimated that the Czech unemployment rate will be flat in June and if it decreases, it will only be by one or two-tenths of percentage point from May’s 8.7 percent.

Our take:
Slightly less than the EU average so things are looking good for the recovery.


5. Czech jobless rate down at 8.5 pct in June
(http://www.financninoviny.cz/english/zpravy/czech-jobless-rate-down-at-8-5-pct-in-june/502332)

High-level overview of article:
The jobless rate in the Czech Republic decreased by 0.2 percentage point month-on-month to 8.5 percent in June, compared with 8 percent in June 2009, the Labour and Social Affairs Ministry said today.

Our take:
Fantastic news and it looks like unemployment will not hit 10% as analysts had predicted.


6. June inflation 0.3 pct point higher than ČNB forecast
(http://praguemonitor.com/2010/07/13/june-inflation-03-pct-point-higher-%C4%8Dnb-forecast)

High-level overview of article:
Czech June year-on-year inflation was 0.3 percentage point higher than the Czech National Bank (CNB) had estimated in its latest forecast, Tomas Holub, executive director of the CNB’s Monetary and Statistics Department, said.

Our take:
Evidence of growth and this will be good to strengthen the currency.


7. Analysts: Inflation to grow, won’t be problem for Czech economy
(http://praguemonitor.com/2010/07/13/analysts-inflation-grow-wont-be-problem-economy)

High-level overview of article:
Czech year-on-year inflation will accelerate in the coming months to 2 percent, but the growth will not present a problem for the economy as it will be a result of comparison with last year’s data, economists told CTK in a poll.

Our take:
Excellent forecasts for stable growth over the next period.


8. FinMin improves 2010 GDP growth estimate to 1.6%
(http://praguemonitor.com/2010/07/16/finmin-improves-2010-gdp-growth-estimate-16)

High-level overview of article:
The Czech Finance Ministry improved GDP growth estimate for this year to 1.6 percent from the previous 1.5 percent, according to data in the ministry’s new forecast made public Thursday.

Our take:
Things are picking up.


9. Commercial leasing comeback; 147% Y-o-Y
(http://www.praguepost.com/business/5097-commercial-leasing-comeback.html)

High-level overview of article:
In the second quarter of 2010, transactions totaled 221,600 square meters (2.4 million square feet), a 41 percent growth on the previous quarter and 147 percent rise on the year, according to a new report released by DTZ, a global real estate adviser. The report came on the heels of another positive indicator for the sector, as industrial output in the Czech Republic grew 16.9 percent year on year in May.

Our take:
Very good information that the demand in Brno for space is strong and that there is less supply. We should see some existing projects get finished and even new ones started such as the AZ Tower which aims to become the highest mixed use building of its kind in the country.


Updated/Aktualizováno: ,

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