Prague Property Market Update – Resales

Czech Point 101 July 22, 2014 @ 2:49PM

An interview with Khuppi from our Prague property office regarding the Prague real estate resale market so far in 2012.

Nathan: Khuppi, property prices in Prague over the last little while and, right now, what do you see them doing?

Khuppi: Unfortunately, I would say that Prague property price still not recovering yet.

Nathan: No. So going down or just staying the same?

Khuppi: It’s dropping a bit at average one percent in a year.

Nathan: Okay. The biggest factors that are influencing the market right now, what would you say?

Khuppi: The eurozone crisis is the biggest factor as we can see. And at the start of this year’s some Czech banks are tightening their loans. And that’s what as they lower the LTV.

Nathan: Okay, so they’re restricting the landing criteria.

Khuppi: Exactly.

Nathan: Making it more difficult for buyers.

Khuppi: Yeah, the requirement is so strong.

Nathan: Yeah. If an investor was going to sell his property in the next little while, would you give any particular advice to them?

Khuppi: Of course, we are now focusing more local people as we are seeing Czech local people started buying for investment and for living and as well as foreign buyers are coming so we are focusing foreign buyers, local people, and there are more opportunity for having the potential buyers.

Prague property market update by Khuppi from our Prague real estate office

Khuppi from our Prague property office gives an update on situation in Prague real estate in 2012

Nathan: Okay. You’re saying that the local buyers are a big part of the market now, and so to make sure that your property is getting out to them?

Khuppi: Exactly. At the moment, we have bigger number of local people who are buying Czech property.

Nathan: Very good. Thanks, Khuppi, for your update.

Khuppi: No problem. Thank you.

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