Investment Property - Hunters' Point

Original Investment Summary - 20/03/2008 Investment Property Hunters' Point

Outstanding 10/90 payment terms negotiated
Very low exchange deposit starting from just £8,443 (including VAT)
Excellent prospects for price growth during 17 month build time
Just CZK49,105 per square metre – some of the lowest prices in Prague
Superb location in a fast regenerating area on an elevated green site with clear views across the city

Hunters’ Point is located in Prague 9 within the Vysočany district, on a green, elevated site in a prime regeneration area. Vysočany is just three kilometres outside the city’s high growth zone, moving out from the city centre and incorporating areas such as Holešovice and Karlin, which have been the best performing areas in terms of price growth in Prague in 2006–07.

The redevelopment of brownfield sites in Prague 9 began three years ago. However, progress was slow and the lack of a cohesive strategy held back the continuing development of this area as a potential investment opportunity – until now.

Prague’s city planning has now confirmed its blueprint for the regeneration of Prague 9 which will speed up the district’s transformation into a modern new centre for Prague East. Plans were finally approved in January 2008, though there is significant evidence that the area has already attracted increased interest among major developers of office, commercial and residential developments.

Property Secrets’ units are all in the third phase of Hunters’ Point because this gives the maximum opportunity for the units to grow in capital value in the current market conditions. An estimated 17-month completion time (September/October 2009) avoids the risk of being first in an area of substantial redevelopment, while entering the market early – and at a low price – we believe will achieve an excellent return on investment. All two bed and studio units have already sold out on the first two phases of Hunters’ Point, therefore the high occupancy rate can only enhance the appeal of those in phase 3.

Prices are currently at a surprisingly low base (CZK50,000/sqm) in comparison to neighbouring Prague 7 and 8 where prices average CZK50,000–70,000/sqm.