As I’ve written before, we’re entering a sweet spot in the property market where, finally, buyers have more power than I’ve seen in the 10 years I’ve done this job.
It’s true mortgage rates are higher than they have been in a long time, but properties are sitting on the market longer and sellers can therefore be negotiated down on their asking prices.
For a lot of people, purchasing the kind of property they want, whether that’s size, style, location, or other factors, can still be out of reach with the level of repayments needed. However, for those still wishing to get on the property ladder, there is another option: buy to rent.
With many hopeful homebuyers being priced out of the market, they are renting longer, which is increasing demand for rental properties and therefore pushing up prices – more good news for people thinking to invest in a property to rent.
In addition to the increasing rents, and adding to that sweet spot for investment, is the expectation that mortgage rates will come down in the future, property values will continue increasing.
According to data from property developer Central Group late last year, the average rent gained on a new apartment ranged from 400 to 440czk per metre, with smaller apartments demanding prices at the higher end of the scale. Rent on a new 35 square metre apartment is now around 15,000czk a month. For older apartments, you could expect something around 335czk per square metre.
Choose your area of town right: up-and-coming business district of Karlin and surrounding areas, for example, or areas around tertiary education facilities, and purchasing a budget-friendly 20 or so square metre 1+kk, for example, could be a good strategy to help you get on the