The current situation on the mortgage market is not entirely favourable for new development projects. The interest rates make mortgages more expensive and the difficult conditions for applicants make it more difficult for young people with lower incomes to afford their own housing.
All of this is of course having an impact on the real estate and construction market, and investors are looking for ways to deal with this situation without having to interrupt or stop construction altogether.
An interesting solution is now coming up with the Na Výsluní project in Letovice, about 40 minutes from Brno, where a completely new location with more than 50 buildings is being built.
“We have decided to respond to the increasingly difficult situation on the real estate and mortgage market by increasing the availability of smaller terraced houses, especially for young people. Thus, we are now offering the possibility to buy in two stages of construction – without completed interiors, and turnkey construction. The stage of completion is then, of course, reflected in the final price,” explains the company’s managing director, architect Petr Skrušný.
Another target group of people who might be attracted to this offer, he says, are people who bought an expensive property in the city a few years ago and are now struggling with a multiple increase in monthly costs due to changes in interest rates and an overall increase in monthly expenses.
With the price of a terraced house starting at CZK 4.7 million, they are thus boldly competing with new housing developments in neighbouring villages without having to compromise on quality and high standards.
Source: CTK
