Luxurious villa measuring about 1105 m² in Prague’s district of Bubeneč is reported to be for sale by a number of Russian outlets. The price is estimated at half a billion CZK, making it the most expensive house in the Czech Republic. The villa has already made it to Forbes.cz magazine as the priciest villa in the country. It is owned by Julija Romanenko – the wife of Dmitry Romanenko, the ex-representative of the Russian branch-company Lukoil Aviation Czech. It was designed by Clive Christian, a very well-known British designer. In case you are interested in the purchase (we are very jealous of you!) or are curious to know more about the interior, here are some of the details. The
While mortgage interest rates have been dropping in the Czech Republic, they are still almost twice as high as in neighboring countries. Record real estate prices in the Czech Republic have already made housing difficult to afford, and relatively high-interest rates make housing more expensive still.
With Prague property prices on the rise, many Praguers are looking to move to smaller towns outside the city. But choosing a new home base can be challenging, especially if you don’t know where to start looking.
A Prague resident would need to spend 14.2 years’ salary for a medium-size apartment (70 square metres), if having no other expenses, according to a new study based on statistics compiled by three leading property developers. The average price of a new flat sold in the Czech capital has risen by 88% since mid-2015, but by just 1.6% in the past year, to CZK 106,392 per square metre.
According to newly released research by UBS Global Wealth Management (GWM), there’s a chance the residential market in Prague will slow down this year, though UBS analysts expect positive price growth to return later on – just at a slower pace than before.
The coronavirus pandemic has closed the door on open houses, but opened a digital window onto virtual home tours
The travel ban instituted due to the ongoing coronavirus epidemic has had an effect on the prices of rent within Prague, with some owners of Airbnb properties offering their flats for long-term rent instead. A wider impact on property prices is also possible, some experts say. In order to stimulate the housing market, the finance minister has proposed the cancellation of the real estate transfer tax.
The planned Prague 6 shopping and office complex Bořislavka Centrum has won Best International Office Development in the International Property Awards 2019–2020. The complex by Prague-based Aulík Fišer architekti will have four buildings that resemble crystals.
Living near the Prague metro makes life convenient, but buying flats located neat the stops can be a bit expensive. The cheapest flats were at Černý Most while the most expensive were at Staroměstská. And while prices are rising, the growth rate has slowed down, according to Valou.cz, a site that tracks real estate prices. But the gap between prices in the center and at the edge has been closing.
Radovan Vitek, the third richest Czech, has bought over 6% of real estate developer and investor Globalworth, the largest owner of office buildings in Romania that is also active on the Polish market. The Czech investor, who operates through his company CPI Property Group (CPIPG), paid almost EUR 130 million for just over 6% of Globalworth.