The segment of family houses may become a symbol of sobriety of the current residential real estate boom. Their supply on real estate portals has begun to grow, and demand in this part of the market is much more restrained than before. The phenomenon is most evident in the Central Bohemian Region, where the number of houses on offer is growing in an effort by the owners to catch the spontaneous interest in real estate from the past two years. At the same time, potential buyers have begun to look more towards rental housing, which will allow them to stay in the metropolis.
The chip crisis and the war in Ukraine are having a severe impact on Czech carmakers and their suppliers. In the first quarter of this year, car production in the Czech Republic fell by 18.9 percent to 269,090 cars. This was announced by the Association of the Automotive Industry. At the same time, the crisis is deepening. “The provisional total loss of cars this year before Easter in our country exceeded over one hundred thousand cars against the planned budget,” said Škoda Auto unions.
A new alliance is being formed in Prague’s development. PPF Group and Karlín Group, whose founder and one of the shareholders is the experienced developer Serge Borenstein, will build residential projects together. The newly signed agreement between PPF Real Estate Holding and Karlín Group includes the development of joint projects in the preparatory phase with a total value of four billion crowns.
Energy prices are still looking for their ceiling. Praguers who do not have fixed prices will pay extra again from April, which will be tens of thousands of crowns more year-on-year. Since April, both Pražská plynárenská and Pražská energetika, ie the main suppliers of gas and electricity in the capital, have risen in price.
The Cimex group of billionaire Petr Lukeš has suspended a multi-billion project that would lay the foundation for a new spa district in Mariánské Lázně. The reconstruction of the Polonia Hotel and the adjacent buildings, the demolition of the courtyard tracts and the connection to the park next to the town hall were sent to ice by the post-imperial situation from which the Orea hotels from the Cimex group have to get out.
The first cars of the Chinese brand Dongfeng arrived in the Czech Republic. Those interested can choose from three models.
The state will contribute additional subsidies to the purchase of heat pumps, biomass boilers, solar panels or home insulation. According to the Minister of the Environment Anna Hubáčková (KDU-ČSL), the planned package is intended to help increase the energy self-sufficiency of households, even the poorest ones, who are most affected by rising energy prices. “Starting energy renovation projects in buildings is also crucial in terms of increasing the independence of households from the consumption of Russian natural gas,” said the head of the department.
The price of oil continues to rise, and with it the airlines’ bills for aviation fuel. Air travel is thus becoming more expensive for Czechs by an average of twenty percent, according to data from domestic ticket sellers. In practice, this means up to thousands of crowns higher prices, especially for longer flights. However, experts point out that in addition to the price of fuel, the increase is also due to the fact that airlines underestimated demand and at the same time failed to attract clients from more expensive business classes. Russia’s lengthy and costly round trips also have an impact on prices.
Although a number of investors have burned down on the domestic market with corporate bonds and bills in recent years and their total losses are in the billions of crowns, there are still plenty of people who do not hesitate to invest free money in very risky, even dubious projects due to the interesting appreciation. However, if the investor, on the recommendation of the Czech National Bank, the Capital Market Association or experts, has a relatively high chance of avoiding problem issues.
The Czechoslovak Group of Michal Strnad will receive orders for eight to ten billion crowns from the Czech army. According to the E15 daily, its subsidiary Tatra Defense Vehicle, which has a license from the American concern General Dynamics Land Systems for the production of eight-wheel armored personnel carriers Pandur, will supply forty of these vehicles with armaments. It will probably be mortars.
The modernization of the Prague department store Máj will start in June this year. The development company Amádeus Real, run by the Klán family, will start it. She obtained a valid building permit for the construction. Now all that remains is to find a contractor, mostly the internal reconstruction of the building, and start the project.
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