Worldwide Property Forums | Re: river park

I saw a recent post about a site visit in Kosice so I thought I would do the same for a recent site visit I made to River Park Ostrava. I have to say I was hugely impressed with the site with my expectations exceeded.
The site is very central, a 5-10 minute walk to the city centre bars restaurants and shops but it is in a very quiet and beautiful location. I thought from the map there would be some heavy car througfare near the site as there is a bridge close by but this bridge is in fact pedestrian only. The large park right alongside is very nice because of the large number of trees and it is beside the river. This is absolute prime location, a place where I would pay a premium to live in. The other good thing is the design and layout is right for this site. If you've got a prime site you want nice spacious flats and a nice design. It was a place where you would be very happy to live no matter what you are used to.

Ostrava itself was interesting to visit. I expected it to be a bit of a hole but it was quite a lot better than I expected. There are a lot of old buildings which are nice but just need a bit of a paint. I think Neil mentioned this on one of his blogs and I really agree with this.

So I like this investment very much because I don't think you will need to worry about oversupply situations and to a certain extent it won't be affected by market fluctuations because it is a site that cannot be replicated and there are not a large number of units in the development. I think this is a deal where you just hold it for 10 years and you don't need to worry about the best time to sell.....Good deal Steve.

I also ventured out to Frydek Mystek to have a look at the development there. It seemed like a good deal being near to the new Hyundai plant but I had too much uncertainty to invest. I am not sure what else is around in the region to compete with Frydek, I was also wary about the small size of Frydek, and my other concern is that it is a deal that relies largely on the plans of one company. Alternatively investing in Ostrava takes advantage of the Hyundai FDI but it does not depend on it as much. Don't get me wrong though, Frydek Mystek seemed like it will do well. The square is pleasant and I was only there for an hour which was long enough to see a new Ferrari driving through. But it just felt like a bit much risk for me, maybe due to my own lack of local knowledge.

So my conclusion is if you have invested in River Park you will certainly do well from it no matter what, and if you invested in Frydek you will probably do well also as long as the Hyundai FDI goes according to plan.