New.... A newly refurbished building of 19 high quality designer apartments in the Old Zizkov area of Prague 3, immediately adjacent to Prague City Centre and to Vinohrady (traditional upper-class neighbourhood). The area is famous for its picturesque hilly streets, small squares, and endless trendy pubs. The building is situated in what is no doubt the best part of Zizkov, close to Riegrovy Park and the wonderful Art Nouveau streets of Vinohrady, and at the same time close to the Old Town and the City Centre. It’s a 15 minute walk or 5 minute tram ride to Wenceslas Square or to the Old Town Square.

Development Summary

• Residential development of c. 19 apartments
• Located in developing residential area close to upmarket residential area and city centre
• Neighbourhood built in the 19th century and part of the Prague UNESCO preservation area
• Several new upmarket developments (apartments and houses) in the area
• Excellent public transport (15 min walk, 5 min by tram to city centre)
• Excellent capital appreciation potential (close proximity to city centre and Vinohrady) 
• Appeals to both the local rental and re-sale market
• Italian Developer operating in Prague since early 1990’s
• Building to be re-constructed using high quality Italian materials and designs

Deal Summary

• “Hands off” investment (legal, mortgage, kitchens, rentals, etc.)
• 1-2 year rental option @ 5%
• Mortgages arranged locally at 70-80% loan to value
• Kitchen and VAT included in price
• 1 Beds from €62,700 / £43,900
• 2 Beds from €96,900 / £67,900
• Penthouse Duplex’s from €164,000 / £114,800
• Italian developer - high standard construction and fit out
• Off plan investment - to complete Q4 2007 (before VAT rise)
• Low 15% deposit, balance on completion in late 2007
• No local capital gains tax if held for 5 years !