Stunning 8% discount on Prague property opportunity

Czech Point 101 May 22, 2015 @ 9:58AM

I am pleased to be able to write about an investment opportunity in Prague that we have just secured.

In order to arrive at this particular project we examined 77 possible projects in Prague and met with developers representing 21 of those projects.

The key criteria we were looking at in the projects included location, rental appeal, return for investor, bulk discount, payment terms, use of an escrow for money paid and quality of the developer.

Investment opportunity in Prague

Based on this criteria we selected one project and developer and were able to secure a stunning 8% discount based on a bulk purchase.

We offered it first to a select list of pre-qualified investors and they have already reserved 6 flats. We still have 4 flats in our reservation block still available so wanted to extend this offer to the readers of our blog.

Key Points

  • Location: 5 min walk to nearest metro station
  • Size: 1 bedrooms (2+kks)
  • Price: 3,300,000 to 4,300,000 CZK including garage, cellar and VAT
  • 15% deposit (minus reservation) payment due by summer 2015
  • Remainder 85% due at completion
  • All money besides reservation secured in escrow
  • Reservation fully transferable at any point
  • Estimated 5 year return of 122% (17% per year – email me to be sent calculations) not including likely currency gains

All of this means to you minimal risk, full security and maximum possible returns.

Additional Costs

  • Required: Legals per flat 12,000 CZK + VAT (due at payment of reservation)
  • Required: Escrow costs per flat approx. 9,000 CZK + VAT (due after signing of future purchase contract)
  • Possible: Mortgage costs (admin fee from bank, translation of documents)
  • Recommended: Mortgage draw down service 12,500 CZK + VAT (due at completion)
  • Recommended: Power of attorney snagging and inspection at completion 3750 CZK + VAT (due at completion)
  • Recommended: Kitchen installation and flat finishing for rental approx. 95,000 CZK + VAT (due at completion)

Next Steps

If you are interested in more details these are the next steps:

  1. send me an email and let me know you’re interested, I will send you more info
  2. select a flat or flats which you would like to purchase
  3. pay 72,020 CZK (57,500 CZK reservation and 14,520 CZK legals including VAT) to our account within 5 days of verbal reservation
  4. within 7 days of reservation payment sign and post the reservation agreement to us

This investment offer is only valid until April 25th, 2015 May 27th, 2015.

Updated/Aktualizováno: ,

Submit a Comment

Your email address will not be published. Required fields are marked *