One modern residential complex is Modrany Heights, located in the most attractive part of Modřany, close to the third largest natural park in Prague. The project uses a unique and sensitive merger of nature, functional architecture, great accessibility and civic amenities. If you’re looking for an example of attractive and safe living, then Modrany Heights will achieve it. It will be a gated complex with a secured entrance consisting of three independent four storey buildings with a total of 120 apartments and plenty of garage and parking places for residents of the complex. Most of the apartments will have two bedrooms, but there are some one and three bedrooms units too; all will have balconies and open plan kitchens, and satisfy the demands and requirements for modern day living for Czech Republic properties.
From Modrany Heights Prague city centre is accessible within a few minutes by car as well as by public transport, such as a tram, bus or train located at the nearby station. The neighbourhood has a variety of shops and stores and with reach are a number of opportunities for entertainment and sport activities. There is a closed security system for residents, including a closed circuit camera system.
Czech Republic properties off good buy to let opportunities and Modrany Heights is no exception, with estimated yields of 6% - 7%, but the developers are limiting the number of buy-to-let units to prevent rental saturation. Prices per square meters at the development are roughly 50,000 - 55,000 Czech Koruna. To demonstrate the marvelous investment potential of Czech Republic properties, capital growth during the building cycle of 20% is expected. Apartments at Modrany Heights start from 2,787,149 CZK, with low deposits of only 15%. The exchange rate for sterling is about 41 Czech Koruna to the Pound.
Another great development for Czech Republic properties is Palmkova in Prague. This has over 277 flats to choose from, ranging in size from 28 square meters to 145 square meters. The development will be an ideal place for both Czech professionals and young families who want easy access to the main part of the city without all of the hustle and bustle of a city centre. Drawing inspiration from successful mixed-use developments around Europe, Palmkova is a fine example of Czech Republic properties combing chic retail spaces, leisure facilities, and designer restaurants with airy light-filled spaces, a large glass atrium and two central landscaped gardens around which the residential apartments are built. The inspiration continues on to the individual units which have open-plan design with all conveniences and large windows to make the most of the sunny, green spaces. The development is in the locality of Prague 8, one of the most up-coming areas for Czech Republic properties, comparisons often being drawn with successful dockland schemes throughout Europe. The district of Prague 8 borders on the city centre district of Prague 1 and is a natural extension of the bustling city centre. For working professionals the benefits of its location are obvious, with the historic centre being only four stations and ten minutes away by metro.
A maximum of 25% of the units (70) will be sold for buy-to-let purposes which avoids rental saturation. The units start from 1.7m CZK with leverage (loan-to-value) of 90% for non-resident purchasers. The developers expect growth of 15 - 20% in prices over the build cycle. There are also discounts available of up to 5% for buyers depending on number of units purchased. Gross rental yields of 5.2 - 7.4% are expected depending on unit size.
Czech Republic properties are well represented by Modrany Heights and Palmkova.
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