I think there are now two previous Prague deals that have completd (Repy and Zelene). My Kosik apartment is nearing completion and I would therefore be interested to hear how the voids and actual rents for the above two deals compared to the PS prospectus? Thanks guys.

Hi Faz I have a 1 bed in Zelene which is let for 2 years (just extended to March 2008) furnished for 15000 CZK per month. I anticipate Kosic will be slightly more as better located but there will be quite a few apartments coming on at the same time. Incidentally I am dealing direct with Orco. Huw

Hi Huw, Thanks for the feedback. I'm glad to hear you are achieving a decent rent. Sounds like you are getting more than the prospectus projections? The no. of Kosic apts coming unto market at the same time is indeed a worry - I have seen Kosic being marketed to UK/Irish investors from at least 2 other property sourcing deals (despite PS' promise that only their 15% would be marketed) so it'll be interesting to see what rent materialises and how the voids go! Now that you've got a property in Prague are you tempted by the Old Brewery deal? Don't you have an apt in Kosic as well? Faz

Hi Faz Yes, it is more than forecast in the prospectus which I was pleased with. I do have an apartment in Kosic and it will be interesting to see what happens with rentals there. I'm sort of tempted by the Old Brewery but am sceptical about the 30% discount. I'm also waiting to get mortgages sorted on a number of CEE properties which I've paid cash for. I've had problems with bureaucracy as well as complications in my personal circumstances over the last 12 months. At the moment I'm also scraping every penny together for a land deal in St Kitts. Huw

Thanks Huw. Good luck with getting those mortgages sorted and the St Kitts deal - sounds interesting!

Repy is only just completing and AFAIK no units are rented out yet. I also saw that several other investment companies were offering units in Repy after the PS deal (though I don't think PS really promissed that there would be no other foreign investors). I've also discovered that about 10 or so people from the developer (Orco) brought units in Repy for investment (or to live). I've been doing a tour of Prague letting agents recently and the interesting thing I picked up is that there is only a very very small market for 3+kk (2 bed) and 4+kk (3 bed) units. Basically if you want sensible rental income with minimal voids then you need 1+kk or 2+kk. If you're going for the Brewery deal you need to be very pessimistic about voids in your cashflow calculations I think. I have a friend with a 4+kk unit in Prague and he has currently has a year+ void after his previous tennant skipped off owing several months rent...

I'll eat my words, just spotted this: http: / /www .propertysecrets .net /topic /25127 /0 /8729 .html So apparently PS did claim Repy was exclusive. Here Nick mentions Reeds Rains and I've seen unit with Validus and another company (can't remember who). Actually I was wondering if Validus has some relationship with PS as they were offering the same deal at the same time on Galeria Park II in Poland!?