Thursday, May 10, 2007 General News J E 4
Prague is emerging as one of the latest cities to catch the eye of the overseas property buyer. As one of Europe's most beautiful and perfectly located capital cities, its high rental demand has giving the city the winning edge for property investment. Whilst the market is now more mature and prices have certainly risen in recent years, Prague still remains one of the best investment choices to be found anywhere in Europe, and that includes more recently emerging markets. Investment specialists currently have properties in the city as low as just Ģ30,000. Low mortgage rates beginning at 3.79% and deposits from just Ģ5987 add to the attraction and make investing here an affordable and sound choice for UK investors. Prices of property in Prague have been steadily increasing by around 15% per annum with some projects seeing a growth of 20% - a trend, which is predicted to continue for the foreseeable future. Over the past few years has become a particularly significant player in the Prague property market. Based in the UK it provides UK buyers with a dedicated team fully experienced in the Prague market. The company offers a wealth of experience and industry know-how to guide buyers through this specialist property market and its UK base has enabled the business to firmly establish itself as one of the UK's leading Prague property specialists. When one considers the various legal formalities coupled with a language barrier, it is essential for buyers to purchase through a reputable company, and an established UK based company offers further peace of mind. was set up by Damian Qualter who,having built his own property portfolio of Ģ5.5m in just 29 months, saw a gap in the market to offer UK buyers a personalised service and an unrivalled knowledge of the Prague property market. His first property business was specialising in discounted UK properties. Since its formation the business has sold over Ģ100m of property to investors and saved them in excess of Ģ15m. The company now looks set to repeat this success with its Prague division. Membership of the EU has seen a considerable change in the country's fortunes. Over the past two years the average wage in Prague has doubled, as a result of an increasing number of blue-chip multinational companies recognising the Czech Republic as a favourable economic location in the heart of Europe. This has increased the demand for good quality rental accommodation for professionals now working in Prague. With property prices still very affordable in Prague and rental yields of 6-8%, there is no better time for UK investors to take advantage of the favourable conditions for buying a property in this world class city.


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