Holiday houses, villas, apartment, hotels and more

We need your travel dates to give you the best available offers

Louvre of Prague was bought by the Spaniards

Louvre of Prague was bought by the Spaniards
Foreigners are interested in Prague real estate market

The Spanish company Azora Europa has bought Prague Louvre for 10 million euros. Louvre Museum in Prague is not a museum, as it may seem at first glance, but a modern office building in Prague 5 district. In the spacious hall with total area of 4500 meters today are located offices of several major European companies, including oil giant Lukoil and Czech insurance company VZP.

For the Azora Europa company purchase of the Louvre was the first deal on buying of property in Prague. For Azora Europa such a massive deal was a signal to competitors on the Czech real estate market about appearing of a new player.

Azora Europa is considered as one of the key foreign investors in the property market in CEE countries. For the company the deal to acquire a building in Prague was the first made in the 3rd quarter of 2010.

Azora Europa develops Czech and the CEE region real estate market together with the British company Europa Capital Partners. In 2007 the two companies announced their plans to invest in Eastern European property in total 2 billion euros. Apart from the Czech Republic, among other regions, are Romania, Bulgaria, Ukraine and Montenegro. Nevertheless, the Czech Republic remains one of the most stable regions, where the real estate market is slowly returning to normal functioning after the global financial crisis.

Investments in real estate market in Prague attract many big players of the west. In the capital of the Czech Republic many buildings are in the hands of foreign owners. Thus, according to www.praguemonitor.com more than half of the buildings on the central square of Prague – Ventseslavskaya Sq. – are owned by foreign investors. In general, among the owners of real estate in Prague the greatest number of foreign owners represent Austria.

Date: 30/10/2010

Comments (0)

No comments

Folgen auf Facebook oder Google+

 


News

Beer Festival begins in Pilsen
This year the festival will be held from July 31 to August 1 and promises to be one of the most exciting beer events of the summer.
Exhibition of unique photographs of Vaclav Havel opened in Prague
Photo exhibition dedicated to the last president of Czechoslovakia and the first president of the Czech Republic, Vaclav Havel, was opened in Prague today. From June 25 to July 6 its visitors will be able to see unique photos provided by the journalistic agency ČTK. On these photos Vaclav Havel appears not only as a president, but as a vibrant, eccentric and temperamental personality.
Czech castle invites for wine tasting
Wine fair, where will be presented the best products of Czech and Moravian wineries, will be opened at 9 am on May 26 in the castle courtyard.