Czech Resale Property

One of the effects of the credit crisis has been we have seen a large increase in the numbers of investors who wish to resell their Czech property.

The Czech Resale Market

Throughout 2008 (though in particular the second half of the year) Czech property prices have slowed down from the heady growth of the previous couple of years.

Developers have had problems with their financing and combined with slowing demand on the Czech market have seen them slash prices in order to increase their sales.

Developers have been offering various discounts (up to around 10% off) and incentives such as free kitchens, free parking spaces or cash back etc etc.

Thus prices for new build property have seen some decline and this trend is only likely to continue.

Panelak prices have also seen falls as sellers have to price their properties more realistically.

Demand for Czech property has for sure dropped and with the economic outlook worsening in the Czech Republic (a country that is heavily dependent on exports - particularly to Germany that has just gone into recession) the outlook for 2009 is not pretty. I expect prices to soften further.

Many investors are seeing this as a good time to sell before the situation gets much worse and whislt the GBP/CZK exchange rate is favourable (giving around a 30-40% gain on the currency alone for investors).

How can PII help?

We are lucky to have, in our group of companies, our own local Czech real estate agency (which is a completely separate brand from Property Investment International).

We put all our resale property through our Czech agency and the results have been impressive.

We are getting investors a great price and a quick and hassle free sale (we do all the paperwork as part of the service).

For anyone interested in selling their Czech property don't hesitate to contact us to find out more about how our resale service can help.

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