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Advertised by Agent
	Emmanuel Efthymiadis E: emmanuel.efthymiadis@ceres-group.com » View all properties listed by this agent
CERES Group - Head Office
	Na Prikope 15 1 110 00 Prague Bohemia, Czech Republic W: http://www.ceres-group.com/ E: enquiries@ceres-group.com P: +420 272 143 513

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Description

Modrany Tulip (Prague, CZ)- Unique project in the most attractive part of Modrany suburb- Prices will be increasing from 6th July 2007.
Modrany Tulip is a modern residential complex located in the most attractive part of Modøany, close to the third largest natural park in Prague. The greatest feature of this project is the unique and sensitive merger of nature, functional architecture, great accessibility and civic amenities.

Modrany Tulip will be an example of attractive and safe living. The gated complex with a secured entrance will consist of three independent 4 storey buildings offering a total of 120 apartments and a sufficient number of garage and parking places for residents of the complex.

Most of the apartments will have 2 bedrooms, but clients can also choose from 1 and 3 bedrooms; all will have open plan kitchens and balconies, and satisfy the demands and requirements for modern day living. The architectural practice used for this project design is the Loxia atelier.

Key parameters to take in to consideration on this deal include:

▪ High capital growth potential
o This is a turn-key, off-plan investment opportunity with completion expected in Q3-2009.
o The project is located in one of the fastest growing districts (Modrany, P12) in the city of Prague- with an average capital growth of 12% in 2006.
o The project location next to a 125 hectare nature reserve whilst at the same time being accessible within a few minutes by car as well as by public transport to the city center, make it an extremely attractive project on the local market.
o Based on the high growth of the area and anticipated demand from the local market and taking into consideration the successful record in his other residential projects in Prague, the developer is expecting to increase prices by cca 15-20% over the build-cycle of the project.
o Investors can benefit from no capital gains tax if the property is held for at least 5 yrs.

▪ Full leverage ability
o Valuations by the mortgage team indicate that investors have the possibility to obtain 100% loan-to-value (LTV) proving the confidence of the bank in the developer and the pricing of the project.
o Bridging loans are also available for the exchange deposit, meaning qualified investors have possibility to purchase a unit with 'no cash-down'.
o Alternatively, with low deposits of only 15%- exchange requirements start from 484,350 CZK (cca 17k EUR / 11.7k GBP) to cover the first 15% installment, with the rest (85%) being covered by the mortgage release on the completion of the project in Q3 2009.

▪ Good income expectations
o The number of units available to international (buy-to-let) investors will be limited to ensure the market is not saturated with units from the same project on completion.
o Long term loans (up to 30 yrs.) are possible, meaning low monthly repayments.
o The developer- AFI Europe- is one of the largest developers in Eastern Europe with a successful track record of projects in Prague with a strong appeal on both the local and international market- meaning one can expect good resale and rental potential.