The Czech Republic Economy International relations Real estate market The City of Prague The Czech Republic The Czech Republic is located in the heart of Europe, bordering Germany to the west, Poland to the north, the Slovak Republic to the east, and Austria to the South. Its two main regions, Bohemia and Moravia, are connected by a developed road and rail network. The Czech Republic covers an area of appropriately 79.000 square kilometers and its population as of the last census (March 1991) was estimated to be approximately 10,3 million inhabitants. Approximately one quarter of the population live in five principal cities, the largest of which is Prague, the capital, with an estimated 1,2 million inhabitants. TOP Economy Prior to 1989, the Communist government regulated nearly every aspect to the former Czechoslovakia's economy. In 1991, the Czechoslovak government launched a program of political and structural reforms designed to re-establish a free-market system through privatization of state enterprises, extensive legislative changes, opening foreign trade, unification of exchange rates, assumption of a free-market attitude for foreign investment and deregulation of the economy. These reforms were reinforced by relatively strict fiscal, monetary and wage policies. After nine years of continues structural reform and cautious monetary and fiscal policies, the Czech Republic already meets most of the convergence criteria proposed in the Maastricht treaty for the final stage of entry into the European Monetary Union. TOP International relations The Czech Republic is member of a number of international organizations, including the United Nations and the World Trade Organization (WTO), the successor to the General Agreement and Trade (GATT). It also participates in the Bank for International Settlements (BIS) and has been admitted to membership of the International Monetary Fund (IMF), and the International Bank for Reconstruction and Development (IBRD). The Czech Republic was the first former Soviet bloc country to become a member of the Organization for Economic Cooperation and Development. In 1993, the Czech Republic was awarded the status of an associate member of the European Union (EU) and in January 1996 filed an application for full membership into this organization. TOP Real Estate Market The growing trade and positive economic factors in combination with increasing foreign investment has been reflected in the real estate market. In 1997, the continued demand for office, retail and industrial space, was partially satisfied by tremendous construction activity in the center of Prague and its periphery. However, the supply of high-quality and centrally located space remains scarce. The driving force for the continuing growth of the real estate market continues to be growth in domestic demand for high-quality office and retail space, the most important components of which are the creation of a stable economic market, growth in domestic disposable income and increased foreign investment. It is projected in 1999 that, as the Czech Republic ranks among the world's most rapidly expanding economies, the real estate market will continue to be favorable. "During the past six years Prague has become an important European Metropolis. Generally speaking, basic conditions for starting a commercial real estate project are already established and an enormous development boom proves that these conditions are attractive for many investors.
		Even higher acceleration of this process is expected in connection with the final approval of the City Master Plan, scheduled for October 1998." Filip Dvorak, member of the Prague City Council.
	Source Prague Expatriate Guide Spring 97/98. TOP The City of Prague The city lies at the crossroads of Europe, and its spirit has been formed and deformed by the cataclysmic pressures of a millennium of continental upheaval. Situated in the center of Bohemia, Prague is celebrated for its magnificently preserved buildings and monuments built in Romanesque, Gothic, baroque, Renaissance and Neo-Latin styles. The Prague Castle, an ancient royal palace and today the seat of the President, personifies the architectural magnificence and sophistication of the city. There you will also find St Vitu´s Cathedral, one of the grandest churches of the 14th century. Sloping from the castle to the left bank of the Vltava, Mala Strana´s swirling canopy of orange tiles and chalky-green domes covers one of the finest Baroques preserves in Europe. One of the most impressive architectural monuments is the Charles Bridge, the vortex of the capital for 600 years. It is known as the most unique gallery of sculptures on the continent, which includes 28 statues of saints. From the bridge you will enter the riddled core of the Old Town, with lanes and passageways molded by the architectural undergrowth of centuries. Founded and fortified in the 13th century, the Old Town is the central European fantasy in microcosm, a world of Baroque color and Gothic gloom. A short distance away you will find Wenceslas Square, the clamorous boulevard where four decades of Communism died in November 1989. Prague has begun a transition into one of the most vital cities on the Continent, and a visit is an unforgettable jaunt into a city where history is in the making, and where a thousand years has already been made. TOP
	Jana Investments   Vlašská 24, 110 00 Praha 1 (Czech Republic) Tel. +420(2)57316802/03/04/05/06 Fax. +420(2)57316808 E-mail: info@janainvestments.com
	| Buildings for sale | Apartments for sale | Apartments to let | | Residence Nosticova | Projecting & Design | Business Opportunities | | Jana Investments | Link | Contact us | Home |