Robert Maclean is editor-in-chief of the Central and Eastern European Construction and Investment Journal, a publication he helped set up in 1995. He had already been living in Prague for some years at that point, having “caught the bug” while reporting from the region in the late 1980s. When we met at his office on Wenceslas Square we discussed how the construction industry here has changed in the last two decades, and whether property in the Czech Republic represents a good investment. But I first asked Maclean what had drawn him to the field
A new report by the Czech National Bank warns that flats in the Czech Republic are overpriced in spite of recent falls and prices could slide still further. The report says rent and wage rises failed to keep pace with that price explosion, which started to put flats out of reach of ordinary earners.
While flat prices in the Czech Republic have been hit by the financial crisis, the value of sites in many parts of the country has risen considerably since 2007, Mladá fronta Dnes reported. The newspaper said the price of parcels of land in several regions, including Prague, had increased by 20 to 30 percent in the space of two couple of years. Values have risen most in the case of well positioned sites intended for the construction of offices and commercial centres. By contrast, values have fallen when it comes to land intended for large apartment complexes and industrial and logistics buildings, a real estate expert told the daily.
Agricultural land is fast disappearing under concrete in the Czech Republic and the pace is getting faster rather than slowing down. That is one of the main reasons why the Ministry of Environment is making a last minute bid to pass a new law that could put a brake on the process. Chris Johnstone reports.
One of the most important documents concerning the future of Prague is the rather unimaginatively named “Development Plan”. Since 1999, the plan has been the key public document laying out the broad rules for what can be built where in the city and its suburbs. For investors, developers, property owners and Prague’s 57 local authorities, the plan outlines development and environmental priorities: in terms of land-use, new building and the transport infrastructure. Since the plan was first drawn up in the early days after the fall of communism,