1. Sales of older flats grow yr/yr in Jan-Sept
(http://praguemonitor.com/2010/11/01/sale-older-flats-grows-yryr-jan-sept)
High-level overview of article:
Sale of older flats has this year grown compared to 2009, with some Czech real estate companies raising sales of second-hand flats by more than a third in January-September 2010, according to a survey CTK conducted among real estate agencies.
Our take:
Indications are that the property market will finish strong in 2010.
2. FinMin estimates growth at 2.2% this year, 2% next year
(http://praguemonitor.com/2010/11/02/finmin-estimates-growth-22-year-2-next-year)
High-level overview of article:
The Czech Finance Ministry has raised its estimate of this year’s economic growth to 2.2 percent from the previous 1.6 percent, according to the latest macroeconomic forecast the ministry released yesterday.
Our take:
First time we’ve seen a reversal in the forecast with lower growth for 2011 than for 2010. Strange.
3. Czech Poverty Rate Lowest in Europe
(http://aktualne.centrum.cz/czechnews/clanek.phtml?id=681840)
High-level overview of article:
In 2009, when the global recession was at its height, the Czech Republic further reinforced its position of the state with the lowest poverty rates in the EU.
Our take:
Once there are really positive sentiments about the economy this should be very positive for the housing market.
4. Banks grant mortgages worth CZK 60bn to citizens in Jan-Sept
(http://praguemonitor.com/2010/11/04/banks-grant-mortgages-worth-czk-60bn-citizens-jan-sept)
High-level overview of article:
Czech mortgage banks granted mortgage loans worth Kc59.7bn to citizens in January-September this year, up 6 percent year-on-year, according to data of the Local Development Ministry.
Our take:
Very healthy number and most of it came in Q3. Be interest to see what happens in Q4.
5. Czech Central Bank Lifts Outlook For Growth This Year, Cuts 2011 Forecast
(http://www.bloomberg.com/news/2010-11-04/czech-central-bank-lifts-outlook-for-growth-this-year-cuts-2011-forecast.html)
High-level overview of article:
The Czech central bank raised its outlook for growth this year to 2.3 percent from 1.6 percent in its latest quarterly update of economic forecasts.
Gross domestic product is seen slowing next year to 1.2 percent from a rate of 1.8 percent made in the previous forecast released in August.
Our take:
Same reversal as forecast by the Financial Ministry. Very interesting.
6. Doing business in ČR has become easier, World Bank report says
(http://praguemonitor.com/2010/11/05/doing-business-%C4%8Dr-has-become-easier-world-bank-report-says)
High-level overview of article:
Conditions for doing business in the Czech Republic have improved over the past year, the country jumping by 19 places to the 63rd place in the Doing Business 2011 chart compiled by the World Bank in cooperation with the International Financial Corporation (IFC).
Our take:
Hmmm, I am not sure if I’d agree with this.
7. Industry leads thaw in property
(http://www.praguepost.com/business/6408-industry-leads-thaw-in-property.html)
High-level overview of article:
In another indication of a recovering economy, sectors of the commercial real estate market are starting to thaw – so much so that experts say there could actually be a shortage of supply by the end of next year.
Our take:
We strongly feel that this will follow by a revival in the Czech residential property market.
8. Czech Economic Growth Accelerates to Fastest in Nine Quarters
(http://www.businessweek.com/news/2010-11-12/czech-economic-growth-accelerates-to-fastest-in-nine-quarters.html)
High-level overview of article:
The Czech economy grew at the fastest pace in nine quarters in the three months through September as exports benefitted from a recovery in western Europe and domestic demand strengthened.
Our take:
Fantastic news.
Updated/Aktualizováno: December 8, 2014,