While many countries in Europe have seen strong gains in real estate values recently, the Czech capital stands out, thanks to a combination of factors
A 19th-century farmstead with six bedrooms and five bathrooms renovated with an eye to historic detail is for sale in Racice, a small town near Prague in the Czech Republic.
Home sales in the Prague area have been increasing in recent years, fueled by the improving economy and low mortgage rates, agents say. “Since late in 2012, sales have been picking up significantly,” said Peter Visnovsky, director of Lexxus, a Czech property company.
The level of investment into European commercial real estate continues to grow with €62 billion invested in the third quarter of 2015, up 18% on the same period in 2014.
France experienced the most noteworthy increase with investment activity of over €7 billion, almost double that of the same quarter in 2014, according to figures from CBRE.
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
Firms linked to Czech investor Zdenek Bakala have agreed to sell residential property group RPG Byty to affiliates of real estate firm Round Hill Capital, the companies said in a regulatory filing with the Irish Stock Exchange on Thursday.
The deal involves 43,000 apartments -- the biggest private portfolio in the central European country -- that Bakala and other investors bought along with coal mines in north-east Czech Republic shortly after they were privatised more than a decade ago.
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