A new start-up called Investown.cz is targeting Czechs interested in investing in real estate but don’t have millions of koruna in cash needed to do so. The Karlin-based company signed up Ceska sporitelna as its first major investor, which believes in Investown’s algorithm which is designed to identify properties that offer long-term, stable returns. The fund will acquire the assets and offer them to clients who want to earn money through a share in the rental income they produce. It’s expected to launch at the beginning of the new year. “Investing in real estate in just five minutes will be possible on the web. All you need is an identity card or a pass and a second form of ID along with a bank account in your name,” CEO Ales Vysin told Hospodarske noviny. “Then you just have to choose the property, invest at least CZK 500 in it and you can start earning money.” He obviously makes the system sound simple, but numerous IT, property and banking experts have been involved in the fund’s creation.
