Hello

Iv posed the question before but no real feedback, maybe ill have more luck via the board here.

I will be taking ownership of my Central Park development hopefully in the not too distant furture.

As PS are bringing out new deals there are only 2 things which are holding me back from further investment at this moment.

1. is the Strong Euro, which i doubt PS can do anything about.

2. is knowing the real value of my current investments, Central Park being the immediate one. I have no intention of selling or 'flipping' the property as it due to be let from the day of completion for a period of 3 years as per the original agreement. However knowing what it would sell for if such a situation arrises would certainly only help improve my confidence in this market?

Hello,

I have an answer for you and will email this across to you this afternoon. I would prefer not to print the figures on here as every unit differs.

Kind regards,

Martin

Martin

Would you kindly email same to me. I have a CPP unit.

Thanks

Nick

Hi
Martin, would you please e-mail to me aswell the current value of the CPP units ?
Thanks,
HG

Martin, can you not give a general feedback on the performance please as it would give an indicator to the rest of us of the quality of your investment recommendation. i bought 1 prague unit in the Eucon development a while back via PS which I'm pleased with and would be interested to hear how Central Park is going as I like the look of Prague in general as an investment. It is relevant to non-buyers of Central Park units too don't you think?
Regards
Dom

Martin,

I have a unit too on Central Park. If you could let me know the current valuation for it, I'd appreciate it.

Thanks,




John

Hello all,

As I have mentioned to a number of investors by email, I am not in a position to give the exact value of any property; we have a performance update being put together that should be available towards the end of the Summer.

Oliver Watts, Head of i-PA has confirmed he will update everyone on this forum post of his intensions shortly.

Kind regards,

Martin

Dear All,

I am afraid it is not possible for Martin to provide single unit valuations prior to completion.

Let me explain.......Firstly Central Park is unique, it is in the park that borders Prague 8 and 3. If you research each of these two areas you will get some interesting information, both being on the rise but from different starting points. Prague 8 (Karlin) has been nicely rebuilt and is becoming a new commercial district whereas Prague 3 is slightly more bohemian. Both are very exciting and are posting positive price movement. Each building in each street in each district has its own pricing formula, or make up.

Central Park, although in between the two is totally different. It is a high quality development nestled in the park. Therefore the demand for these units will not come from the typical buyer or tenant looking to live in Prague 3 or 8. To value Central Park we would need to find comparisons of similar developments from other areas of Prague and then apply an adjustment.

Therefore, the best advice we can give is of Prague in general. This is published in our half yearly market reports (due out in July) and more specifically in the strategy reports which are supplied as part of the Completion Service though i-PropertyAssets. The strategy report is sent out before completion and offers our latest advice pertinent to current market activity.

Why not give you a figure?
Previously PropertySecrets published the latest market price for non completed investments. The source for these numbers was the developer, looking at those units that had not yet sold. Therefore they were the advertised prices. Analysis showed that the actual sales price (in some markets) could be 12% below this asking price. Therefore our published figures were not real and as a result we upset some clients. We have an article that is soon to be published demonstrating the developer's pricing policy and behaviour throughout the investment cycle that will demonstrate some of the risks associated with using their numbers.

We now have a policy that means that we will give general market advice regarding property activity prior to completion. Post completion we can see actual sales prices for units in the development in question and then post a truer pricing prediction.

Responding to every individual client request for a valuation is not possible. Hence the more structured approach above.

I would be happy to arrange an independent valuation of all units at a specific time during the build process for every development.

The question I have to ask is would you pay for an independent valuation close to completion as this would be an additional service?

regards

Oliver Watts