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Current AffairsLandlords, lawyers say big room for legal improvements as rent deregulation landmark looms
The Czech Republic’s slow and painful steps from regulation to market
regarding for rented flats will take a big step forward at the start of
next year when rent controls end for around 450,000 apartments. Last week
the government proposed accompanying laws rebalancing the relationship
between landlords and tenants. But the former say these don’t go far
enough, and experts are warning that the courts could be swamped by tens of
thousands of cases over rent levels. More
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In this week’s Business News: World Bank releases upbeat growth forecast;
deal nears on refloating Czech shipyard; ministry seeks to raise real
estate taxes; new law for landlords and tenants ahead of expected New Year
clash; and charter flight marriage smacks of shotgun wedding. More
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In this week’s Business News: Czech economic growth on steady course;
ministries scramble against solar power impact; telecoms giant under shadow
of competition office suspicion; landlords look to double rents; and beer
“museum” seeks to showcase small brewers.
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One on OneRobert Maclean – witness to great change in region’s construction and real estate businesses
Robert Maclean is editor-in-chief of the Central and Eastern European
Construction and Investment Journal, a publication he helped set up in
1995. He had already been living in Prague for some years at that point,
having “caught the bug” while reporting from the region in the late
1980s. When we met at his office on Wenceslas Square we discussed how the
construction industry here has changed in the last two decades, and whether
property in the Czech Republic represents a good investment. But I first
asked Maclean what had drawn him to the field of building and real estate.
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Current AffairsCzech National Bank says flat prices rose too high and should fall
A new report by the Czech National Bank warns that flats in the Czech
Republic are overpriced in spite of recent falls and prices could slide
still further. The report says rent and wage rises failed to keep pace with
that price explosion, which started to put flats out of reach of ordinary
earners.
More
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In this week’s Business News: Orco restructuring programme cleared; real
estate prices retreat to pre-peak levels; steel spat threatens hundreds of
jobs; mining giant surprises with first quarter loss; and top banker hits
out at market regulation.
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In Business News this week: a surprise rate cut from the national bank;
Škoda Auto sees encouraging November sales; Prague drops down list of
choice business locations; auctions bring reality to real estate market;
and finance ministry bids for a stake in poker proceeds.
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In Business News this week: a draft budget for 2010 is approved, while a
deficit approved for this year is likely to fall far short of the real
deficit; the vice-governor of the Czech National Bank says recovery is
likely to bump along rather than rise smoothly; the amount lent in new
mortgages falls significantly, while property prices seem to have hit
bottom; and the Czech Republic lags behind in terms of percentage of women
in senior management.
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