Prague switch for investment

[bentley]

I was planning to buy in Germany but have been alerted to 95 per cent finance in Prague possible through Central Group developer ,and they are guaranteeing a 5 per cent profit increase up to completion of build,and property management.seems no credit crunch there as Banks are healthy,i know a few people who are switching to CEE especially Czech Rep.the rental market is buoyant in prague with excellent rental yield.its the best investment destinaton by far now.forget the UK ,Spain ,especially Bulgaria and Germany.
I have the contact for Central Group if anyone wants it...

 

[Sumarokov-Elston]

Beware!

I saw your post of 27 October 2008 also advertising this company in the "Emerging Property in Europe" forum of our site :

http://www.totallyproperty.com/emerging-property-europe/10729-prague-central-group-guaranteeing-5-per-cent-profit.html

Before anyone gets involved, please note the following development, which happened last week.

A construction company and other creditors are claiming that they are owed around three and a half million pounds by Central Group. The Prague Municipal Court has refused to send Central Group into bankruptcy as demanded by this developer company's creditors.

Basically, the creditors are trying to get the money back through the courts. Central Group deny that they owe any money to the company in question.

All you people out there, keep an eye on this development of events before you invest, please!

 

[bentley]

its quite common in Czech rep for people to sue firms and claim bankruptcy proceedings.it has nothing to do with financial state of company.they apparently have A grade from their auditors and dont leverage debt to build new devpts like Finep,they reinvest profits.ask anyone in real estate in prague they will tell you its one of the strongest companies in the country.

 

[Sumarokov-Elston]

Czech source

Soud zamítl insolvenci Central Group

Soud zamítl insolvenci Central Group - Finance.cz

 

[bentley]

as i said

just says one firm tries to sue another ,doesnt mean anything vis a vis financial state of this firm which is solid.if i try to sue you does it mean you are financially bankrupt?the general point however is merely to stress that prague property investment,rental yield is much better than anything in germany.