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House/Villa Description
Located in one of Eastern Europe's best investment areas and with up to 100% finance available, this is an opportunity not to be missed near Prague in the Czech Republic
THE MILL, LODENICE
Property Details
The development is a one-phase conversion comprising of 24 apartments in total. This is made up of 16 studios, seven 1- Bedroom and one 2-Bedroom apartments. The price includes a fully fitted kitchen, bathroom, floor covering and a parking space. All the apartments come with a 2 year 6% rental guarantee.
Available units:
Studios
29.35m2; - 40.00 m2; from £51,348 to £62,535
One Bedroom
72.00 m2; - 82.75 m2; from £92,777 to £113,887
Two Bedroom
91.70 m2; from £110,066
Local Area
Janska is located 10km from Prague and only 2km east of Beroun in a small town called Lodenice. It is only a short walk from the local amenities such as local shops, school, railway / bus stations and several factories.
Beroun is the closest city and is located 20km south west of Prague city centre. The drive from Prague to Beroun is only 20-25 minutes along the D5 highway which continues to Pilzen and Germany. There is also a train that runs from Beroun to Prague and takes approx. 35-40 minutes.
Beroun is one of the fastest growing regions in the Czech Republic with property prices already growing at an alarming rate. There has been a lot of foreign direct investment in to Prague and Beroun also with companies such as Lidl, Hypernova, Skoda, Kia Motors, Best Western Hotels, Kaufland, Delvita, Billa, Ceskomoravsky Cement, Kostal, Tipsport, Linde Frigera, Hornschuh, with a presence in Beroun and also Ikea which is close by but not in the city. The development itself is located in the centre of the town walking distance from shops, bars, cafes, restaurants, the river Berounka and the main town square where a market is held. Other local amenities include schools, swimming pool/leisure centre, cinema and walking routes as well as tourist attractions such as the Karlstejn castle and golf course.
Expected Growth:
Capital growth in these areas is expected to be up to 25% per annum with some parts of Prague and the surrounding areas achieving growth rates of up to 30% per annum. The demand for new build property is pushing prices higher and higher and therefore growth rates are soaring. As the younger generation earn higher salaries and more and more people are purchasing property the prices are rising and investors getting in on developments in the earlier stages are taking advantage of the high growth rates.
Financing Availability:
Up to 100% finance is available subject to status on completion. Three months bank statements and/or payslips are required and an indicative offer for your finance can be achieved within a week. A term of 25 years is available (or up to 70 years of age) and interest rates are between 5% and 6% depending on the loan amount. In house, English speaking mortgage brokers are available to talk to and/or assist you with mortgages in the UK and the Czech Republic.
Payment Structure and Timings:
A £2,500 acquisition fee is payable to secure the property in your name immediately. This is not deducted from the purchase price of your apartment. Within 6 weeks time a reservation deposit of 50,000 CZK is due (£16121.90 @ approx 31CZK = 1 GBP). There are no further deposits to be paid towards the purchase price of your property until completion when the balance is due via cash or mortgage.
Running Costs, Completion Costs & Fees:
Legal fees are £2,244.95 including VAT payable in 2 instalments (£535.50 to exchange and £535.50 to complete) plus £654.95 in disbursements and services, plus the setting up of your Czech Residency at the cost of £400.00. Please email or call for a full breakdown of these costs. The mortgage arrangement fee is £695 and must be paid prior to getting a mortgage agreement.
Rental Yields in the are
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€61,399 | £51,348 | US$80,979 (Currency and Foreign Exchange services supplied by  )
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| Type |
House / Home |
| Category |
Re-Sale |
| Listed |
over 1 year ago |
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Innovative investment strategies offering 25% annualized returns regardless of market conditions
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Map of Lodenice, South Moravian Region, Czech Republic
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Price: £51,348
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