In all areas values of smaller flats seem to have held their value better with the price of larger flats being affected the most.
All banks have restricted offers including only one now offering 85 percent LTV for foreigners who are purchasing. Qualifying standards are stricter across every bank for every applicant. If this continues it could cause price falls more than we had previously anticipated.
Brno real estate: A comparison of developers prices from early 2008 to the current month in 2009 shows that prices are down from 3 to 5 percent on new projects. Other reports indicate that the price fall has been higher in panelak or Communist era concrete construction. Rental market is still very strong for flats for rent under 8000 CZK per month from young professional singles. Larger flats are renting slower but still moving if it is usable for multiple singles.
Prague real estate: Reports have indicated discounts of up to 10 percent by developers on new construction although others seem to indicate overall property value decreases of 1 to 3 percent outside of panelaks.
Ostrava real estate: Developers prices have not come down although prices for panelaks have fallen. It is currently a period of pause for the market as movement of property has really slowed but prices not decreased. Rental offers have increased on the market over the last six months making the rental market softer than before.
Zlin: Bank valuations processed this month for new construction in Zlin have shown an increase in prices of about 5percent since the beginning of 2008.
Updated/Aktualizováno: July 22, 2014,
