Property In Prague A Good Investment For 2010
News Posted On: 13 January 2010
According to most analysts (well, maybe not most but a high percentage) 2010 is going to be a good year for those selling overseas property. This is especially true of anyone selling property in a capital city, because commercial and retail property sectors are currently seeing the fastest growth, which is predominantly in capital cities, and will feed the surrounding residential sector in the months ahead.
Prague is one of the world's great and greatly underestimated capital cities. 2010 looks set to be a very good year indeed for Prague, already the Emirates airline has launched a new direct flight to the city from the UAE, due to commence from July this year. This is a testament to the rising level of interest in the city from wealthy middle eastern tourists, investors and property buyers.
Liam Bailey, director of sector specialist copywriting company Write About Property said:
"Prague was a bit of a misfire towards the end of the last international real estate boom. The city saw wages and property prices increase so rapidly that they left the rest of the country miles behind, and this had a negative effect on its appeal to overseas investors.
“According to the Knight Frank index prices have fallen about 10% in the country as a whole. In terms of real hard sales figures 2010 is still likely to be slow in the Czech Republic property market, with many incoming workers choosing to rent. With sales elusive there will be plenty of opportunities to negotiate a bargain. The lower the price the bigger the buy to let returns."
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