Developer – general
I would like to invest my money with a verified partner. Can you document the history of the company?
We have been operating on the real estate market for 15 years. During that time, we successfully completed several important development projects throughout Prague. We currently have 4 interesting projects in various stages of preparation.
I am interested in references. Is it possible to contact one of your clients directly?
You can view our reference projects, but we do not pass on client contacts. This is for privacy reasons. We will also protect your privacy if you become our client.
How do you secure project financing?
We use our own and foreign resources as dictated by economic rules. The ratio of the housing cooperative's own resources and bank financing is roughly 50/50 percent.
Building, apartment – general
What about deadlines? When can I buy an apartment from you? And when can I move into the purchased apartment?
The current offer allows you to book the apartment immediately. It depends only on you when you decide on a specific apartment. You can then move in after the completion of construction work and approval of the project.
What awaits me after moving in? Will there still be construction activity in the house?
No. We always hand over the apartments after construction is completed.
What about the surrounding land? What am I actually buying with the apartment?
Each apartment also includes a share of the land under the house.
What does studio mean? What is the difference between a studio and an apartment?
The definition of an apartment is based on the Building Act, which the studio does not consider an apartment. We fully respect the law, which is why we distinguish between a studio and an apartment. A unit designated as a studio does not have to meet such standards as a classic apartment, for example the standard for sunlight. However, in terms of functionality, it is a full-fledged residential property. However, we must point out that there may be a formal problem with the registration of permanent residence.
I require a guarantee that I will buy an apartment, and not a studio. Possible?
Yes, sure. The contract clearly covers what exactly is the subject of the purchase.
Is the cellar included in the price? I want to know if the basement belongs to the apartment, is it a separate unit, or belongs to the common areas.
In our projects, we sell the cellar as a separate unit. The listed prices are final, with each price of our offer you will also find an exact description of what you are buying.
What is the size of the apartment itself? I assume that the advertised size of the apartment includes the balcony and the basement.
The specific offer of the property also includes a plan of the apartment. In it you will find the exact dimensions of the individual spaces.
How does cooperative loan repayment work? How is it different from a mortgage?
A cooperative loan uses a similar principle to a mortgage. Therefore, you do not have to worry about any complications. As with a mortgage, the cooperative pays the bank a monthly installment as the sum of the monthly annuities for the individual apartments.
What if I want to use the apartment for short-term rental? Is it okay?
Yes, you can dispose of the apartment as you wish. However, you need the cooperative's approval to rent an apartment short-term.
Why are you selling a cooperative share and not the property itself?
We react to the current level of interest rates. It is a more affordable way to buy real estate. Because the building is owned by a cooperative, cooperative apartments are sold in it, or cooperative shares in the house. After paying the annuity, which can be realized at any time, as the owner, you can transfer the cooperative apartment to personal ownership.
In what condition is the apartment offered? Is it equipped?
The apartment will be finished in the so-called Fit Out standard, i.e. structurally completely finished and ready to move into. The new owner will only furnish the furniture and equip the kitchen unit.
Can I buy an apartment as a legal entity?
Yes, of course.
Financing the purchase of an apartment and taxes
How about paying when you buy? How much money to prepare?
When reserving an apartment, you pay a deposit. When transferring the apartment into your ownership, it is then necessary to pay the rest of the price of the apartment. Payments are covered in detail in the contracts, where you can see exactly how much you will pay and in what terms.
Can I buy an apartment with a mortgage?
Yes, this is one of the possible options for financing the purchase. If you are interested, we will help you arrange a mortgage.