Sunday, June 20, 2010

Commercial Property in the Czech Republic

Many investors begin with residential property in the UK. Then they branch out; this may be into commercial property, still in the UK, or it may be into residential property overseas. The most bold take the two together and look at commercial property overseas.

Residential and commercial property in the Czech Republic have both grown in popularity over recent years. A broad range of international investors have found good yields and returns in that time. Capital city Prague is particularly attractive. It has an excellent strategic location in the heart of Europe, together with good transport links and affordable space. Commercial property in the Czech Republic is still very popular or investors.

Other Eastern European countries are coming up – such as Bulgaria, Ukraine and Romania – but they lack the infrastructure and experience of the Czech Republic and could be risky at this time.

The Czech Republic is one of the most Westernised ex-Eastern Bloc countries. The country sits between Germany, Austria, Slovakia and Poland, home to a population of 10.3million in an area of 78,866 square kilometres. It is, of course, landlocked with 2,290 kilometres of border.

Capital city Prague has an area of 496 square kilometres and a population of nearly 1.2million. It can be reached from the UK on flights of less than an hour and a half and the country is now served by economy airlines making it easily accessible in terms of time and money. The capital is steeped in history, with the beautiful architecture of Czech property, untouched by World War II bombing. The city has 57 Districts that spiral out from Prague 1, the city centre. Wages in the capital are 50% higher than the rest of the Czech Republic. There is an emerging middle class culture developing, and this group of people aspire to move to new Czech property from the old pre-fab housing.

After the fall of communism in Eastern Europe in the late 1980s the Czech Republic was one of the first to embrace European western politicization. Czechoslovakia separated to become the Czech Republic and Slovakia in a “velvet divorce” on 1 January 1993. The Czech Republic joined NATO in 1999, and then joined the EU in May 2004. The country aims to join the Euro monetary system between 2010 and 2012. The country has a strong basis for foreign investment.

There are many new developments in the city and many have integrated commercial units. Commercial property in the Czech Republic will be much in demand in the coming years as there will be a need for many types of commercial outlet – retail and services – to serve the new accommodation from shiny new commercial units.

One UK company dealing with commercial property in the Czech Republic is Validus. Its commercial division sources and offers for sale land, underdeveloped buildings for residential or commercial development and developed commercial property. Validus assists investors in acquiring property and also in all aspects of property development, letting, and resales.

Validus offers a full range of development services for commercial property in the Czech Republic, from technical surveys, valuation, financing, architectural work and contract tendering, through to letting management and exit strategy. All of these services are carried out by members of the Validus network comprising both local professionals and UK- or Ireland-based team members.

With offices in central London and Dublin they can meet UK clients to discuss their requirements commercial property in the Czech Republic, undertake research and administer the business. Their local expertise enables them to identify superior property investments. Validus can also source commercial property in the Czech Republic that never reaches the open market.
(ArticlesBase SC #424026)
Damian Qualter - About the Author:
Interested in investing in buying property? Look for great opportunities at http:/