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Brno Real Estate - Q3 2011

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http://www.czechpoint101.com/e
n/brno/ A Brno real estate market update giving the current situation for Q2, Q3 2011 and what owners should look for coming up until the end of the year. What's happened with Brno property prices for sale since we spoke last? So let's start with the rental prices. So we haven't seen any increase since this period, but we are expecting that the upcoming months will be better. Why? Because, there are some flats that due to location and disposition are specially made for students. And right now the students they are starting to call us, write us emails, which means that they are starting to search for flats for the new period. So, this will keep the prices up. What about Brno rents in the real estate market? So there are two groups of flats, the small one, and the bigger one. The small flats like 1 + kk or 2 + kk has increased their prices about 5% since the last time. But the bigger ones they decrease the prices about 2 to 3%. It's mainly due the fact that the owners of the old bigger apartment made some discount. Because they realize that they cannot sell the flats for the same price as it was in 2008. What factors would you say have influenced prices this way? I would say rents are mainly influenced right now by the students moving into Brno, they're searching for apartments. And the property price see themselves, I think that the mortgage situation right now is very good for buying a flat. Which means that a lot of people that are going to the bank asking for mortgage as the interest rates start with 3.6% for own accommodation. Any recommendations for owners looking to rent their Brno property over the next months? I would say generally to them to be proactive. So if I see that the tenants are leaving in 2 months, the best what I can do is to go and ask a tenant if he would like to stay in the apartment and prolong the contract or if he will leave. That just give me a chance to put the flat to the market very soon. So I can find a tenant for the owner and owner cannot lose any of the rent in the whole year which is great. Less