Last month when we wrote our update we said we expected occupancy to hit our target of 95% by the end of August. Well it did and went right on climbing. Presently in Brno we have occupancy of 98% with our overall occupancy in all locations combined at an excellent 97%. Over the next month or two we will start increasing the rental prices to see what the market will sustain without losing much on our occupancy rates.

In Brno we moved to a new office space. It is a lot roomier and is definitely a better presentation of our company. We are looking forward to helping many investors through these offices over the coming years! There are pictures on our blog here: http://www.czechpoint101.com/newsletter/?p=1368.

There are very positive signs in the Czech economy including higher than expected GDP growth, a solid rise in salaries and lower than expected unemployment rates. All of this is having a positive effect on consumer's outlooks and also on the appetite for properties. Because of this we are expecting good movement on the real estate market over the next couple of months until the snow flies.

In Austria we are in the process of investigating and meeting with various banks to find out the options for foreign investors purchasing property. For centuries the rich in Europe have put their money into Austrian property and haven't been disappointed. Austria has also been one of the best and most stable property markets in the world over the last few years, posting consistent gains. In Q1 2010 it was up 4.8% over 2009 and 6.1% over the last quarter. All indications are that it will continue.

Nathan Brown www.czechpoint101.com