| When
is the best time and moment to
buy property in the Czech Republic ?
Here are some extracts from a case story
of when one should have bought.....
"... After looking for real estate
for the first three years, my wife and I finally made the big
plunge in October of 1993. During the intervening three
year period, we watched prices explode, particularly in Prague
and Karlsbad.
When we started looking, you could buy an ambassador's residence
in Prague for $25,000. Our
delay cost us dearly, but my wife and I couldn't agree on what
to buy..."
"... We bought the villa when it
was on its last leg. It had been converted and served as
a Kindergarten from 1950 to 1970. Then, it served as an
apartment house for communist supervisors until 1991 when it was
vacated. We paid $32,000
for the place. We could have
bought it in 1991 for $20,000 if we would have
known it was for sale. What ensued was a lot of renovation that
cost another $32,000, but we ended up with a beautiful place. The
villa now provides us with a very nice two bedroom apartment,
a caretakers apartment, and two apartments for use in our bed
and breakfast business..."
[ extracts from Ronald
Winkles's account of his experience in buying property in the
Czech Republic...
http://www.escapeartist.com/efam22/czech.html
]
So as one can see, 'now' would be a good
time.
But this should be nothing new as in most
economies brick and mortar tend to be a good investment with a
gradual, stable, guaranteed rise in value over the years and decades.
Many private investors, after the fall of
communism in the Czech republic bought up a lot of the old historical
buildings in many Czech towns, Prague above all - and they purchased
these for ridiculously low prices.
Even now, dilapidated old buildings still
abound throughout Czech towns and even some historical centers
and various respectable sources confirm that prices
of residential property throughout the whole of the Czech Republic
are as low as they will be for the foreseeable future.
Now is the time to buy.
Becoming informed costs next
to nothing
Being missinformed can be expensive |
