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A great place to live,
excellent for investment. Kladno.

Why invest in flats in Kladno?

» Kladno can boast of a past in which it transformed itself into a world-renowned industrial city during the 20th century.

» The rapid development made Kladno the most populous central bohemian city

» There is a very low unemployment rate in Kladno.

» Kladno is the gateway to the capital city of Prague.

Detail »

Discounting mortgages driving up prices of the flats.

Czechs have never been able to borrow for housing as inexpensively as they can at the current time. Plus the banks and brokers are spicing up the long-term low interest rates with more and more frequent sales events. The result is that market prices for flats have risen to the greatest extent since the crisis. According to data from the Czech Statistical Office, at the end of last year the prices for older flats rose by six percent year-on-year. In new buildings the prices increased by 1.6 percent.

The trend on the mortgage market will probably continue. The development of interest rates and the influx of new competitive offers show that the room for cheaper mortgages has still not been exhausted. According to data from the Golem Finance brokerage firm, banks went down with interest rates by another six hundredths of a percent in March. Thus on average a loan went for 2.24 percent of the annual rate.

“In the coming months we expect another drop in the rates. During April the banks have continued in their pricing activities and the average rate could drop to below 2.2 percent by the end of the month,” stated Libor Ostatek from Golem. In March alone five Czech banks rewrote their mortgage prices and in all but one of the cases they lowered them.

Source: www.e15.cz

Ministry preparing a law defining the rules for real estate agents.

The Ministry for Regional Development is preparing a law that has been lacking until now which should define the rules for real estate agents. They would newly have mandatory qualifications and an exam, they would have to be insured for liability and they would have to manage the clients’ money in separate accounts.

The “Real Estate Act”, which is now in the draft proposal phase, should set the rules regarding transactions for properties, i.e. relatively complex transactions into which people commonly invest a considerable part of their life savings once or twice in their lifetimes. The Czech Republic would no longer be one of the few countries in Europe with a non-regulated real estate market. And, as the Ministry and professional organisations hope, there would be fewer people cheated by such transactions and the prestige of real estate agents would increase.

Similarly to insurance agents or tax advisors, real estate agents (including those working on the basis of a trade licence) would have to conclude liability insurance. This would help the frequent cases where damage arose, for example, due to a poorly prepared brokerage contract. In such cases the relevant insurance company would cover the damage and neither of the parties, the seller or the buyer, would have to (in the better case) claim the damages from the agent through litigation. “For more than ten years now all of our members have been insured for liability and it is demonstrably positive protection for the agency and for the consumers,” stated the Chairman of the Association of Czech Real Estate Agencies, Jan Borůvka.

Source: iDnes.cz

Inexpensive mortgages attracting more and more people to invest in flats

The purchase of a flat is becoming an attractive investment for people who could not afford it just a few short years ago. This is due to inexpensive mortgages (an average interest rate of 2.37%). Moreover after years of decline, the prices of flats have stabilised and in some popular places are increasing. Thus we can expect that an investment will appreciate over time. “Real estate is often chosen by people who have lost their confidence in pension reform and are looking for alternative security for their old age,” stated Libor Ostatek, the Director of Golem Finance. 
(Source: Hospodářské noviny, 5.2.2015)

The market for flats is reviving, prices are climbing

The market for flats in the Czech Republic is waking up from several years of decline. The number of flats sold is starting to return to the level common before the economic and financial crisis. And prices are rising together with the greater interest in purchasing. Over the course of the entire year they will increase, on average, by a few percentage points, and this is confirmed by Hypoteční banka’s HB Index for the third quarter of this year, which HN has at its disposal. The revival in the market is primarily the result of more favourable economic developments and less expensive mortgages. According to experts the average interest rate for mortgages will soon break the barrier of 2.5 percent. There really is no need to delay with the acquisition of real estate.
(Source: Hospodářské noviny, 31.10.2014)

Amendment of Act on Energy Management

The government has approved an amendment to the Act on Energy Management. The changes will mainly concern energy performance certificates for sold buildings. If Parliament passes these changes, then they will apply from January 2015. From this date, the obligation for the seller to submit energy performance certificates for buildings built before 1947 will be cancelled, for example. Our experience has also confirmed that the preparation of certificates is, in these cases, superfluous.
(Source: Hypoindex, 7.9.2014)

Czechs have started to buy flats again

The first half of this year has shown that the market with flats in the Czech Republic has continued in its recovery. People’s fears from the loss of employment have dissipated with their confidence in the further growth of the economy. Interest in acquiring a mortgage has been supported by mortgage rates hitting record lows. In just Prague alone developer have sold 2850 flats, which is one-fifth more than a year ago. According to Hypoteční banka, prices have risen by more than one percent. The average price of plats is expected to continue to grow. There really is no need to delay with the acquisition of real estate.
(Source: Hospodářské noviny, 11.7.2014)

Facebook mortgage

Česká spořitelna’s sale of mortgages over social networks has worked. Over the last two weeks in June it received just as many requests for mortgages over Facebook than over a whole month through branches and external agents. Sales through Facebook could be another way for banks to strengthen their position on the market without a greater increase in expenses.
(Source: Hospodářské noviny, 4.7.2014)


The best offer in the entire history of the Czech mortgage market

On Monday, 16 June Česká spořitelna is launching the sale of mortgages through Facebook with a record low rate of 2.38% p.a. on loans for up to one hundred percent of the value of the mortgaged property. So far it has stated that the offer will be valid for 14 days. The rate is guaranteed and it will be available to everybody who fulfils the savings bank’s conditions regarding the ability to repay the loan. It can be assumed that other large players, Hypoteční banka and Komerční banka, will respond to this offer, and thus the average rate on the market will continue to drop.
(Source: Hospodářské noviny, 12.6.2014)

Average mortgage interest rates drop again

The record level from recent months, 2.93%, has been rewritten with the rate of 2.88%. Thus the rates have successfully tested the previous bottom and dropped by a further 0.05 percentage points. Clients that would currently like to refinance their mortgages, which they took out five years ago at the average interest rate will especially feel the impact of the development of the interest rates in their family budgets. It definitely does not amount to small change. For a mortgage in the amount of 1 million CZK with an unchanged maturity of 20 years, the savings are 1 411 CZK a month, more than 20% of the existing instalments!
(Source: Hypoindex, 21.5.2014)

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