Below is a full transcription of the video interview with Khuppi on Prague real estate.
Nathan: Khuppi it’s great to be back together with you, and talk about what’s happening in Prague. The last time was in February that we talked about what’s happening on the market, and so what’s been happening since then with the rent prices and the property prices?
Khuppi: At the moment in Prague, rental market has been doing quite well since second quarter in an attractive area. Studios, apartments, and 1 bedroom apartment has been the biggest demand for rent, and property prices has rebound slowly up to 1% in the historic city center Prague 1, Prague 2 Vinohrady, Prague 1 Nove Mesto, Stare Mesto.
Nathan: Well, that’s very good news. Good to hear that things are moving upwards. And what would you say are the factors that have influenced this?
Khuppi: We could see Prague economy recovering and stability in all industry. Unemployment over 9.5% in January has dropped to 8.1% in the last report in June. As we stop seeing property price going down, most buyers and investors feel this is the right time making decision while still many buyers and investors still looking for better location or district.
Nathan: Ah okay, and we know that interest rates are very low right now, historic lows for mortgages, so that’s probably a big factor too. And if you’re going to give advice to any owners whose properties come up for rent in the next few months, what would you say to them?
Khuppi: Of course, we always recommend to be flexible in terms of price, to avoid long vacancy period. For sure they can increase up to 5% the price. And be sure that they have advertised the property on bezrealitky or real estate websites which is directly from the owner and without commission.
Nathan: Excellent! Good. Thank you for the advice. And of course if there’s any owner that doesn’t know what price to set for the rent they can contact you, right, for your valuation?
Khuppi: For sure, we have free valuation for property owners, and everyone is welcome to contact me for free valuation for their property.
Nathan: Excellent! Thanks very much Khuppi for your time today.
Khuppi: You’re welcome, Thank you!
You can ask any questions about this interview or Prague real estate in general, by contacting us: prague@czechpoint101.com.
Updated/Aktualizováno: July 22, 2014,
