They couldn't afford an apartment in Prague, so they bought an apartment by the sea
More and more Czechs are fulfilling their dream of owning their own home by the sea. The most interesting for them are properties in Bulgaria, Albania or Egypt.
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Small kitchen, toilet, shower, large closet in the bedroom and balcony overlooking the water park. The studio in the hotel complex was the dream of Maria and Ota, who wanted to invest money somewhere and couldn't afford an apartment in Prague. So they chose the Bulgarian Sunny Beach. "First of all, it was because it was through acquaintances that we were not afraid of the transaction. They guaranteed that the transaction would go through. In addition, the housing prices were lower than even in Croatia, for example," explains Mrs. Maria about the acquisition of the property in Bulgaria. Mr Ota told CNN Prima NEWS that the property price ratio clearly spoke for Bulgaria.
The apartment cost them just over a million crowns. Compared to prices in Prague, it was about a quarter of that for the same size. "In Albania, for example, a square meter on the beach costs 33,000 crowns, in Prague, but no longer by the sea, you have a square meter for some 135,000 crowns," described Lukáš Kovanda, chief economist at Trinity Bank.
The advantage of such housing directly in the hotel complex is the possibility that the management will maintain the apartment and make sure that it is occupied by tenants.
If you'd like to swap such cottage classics for your own holiday home by the sea, you could try Egypt. "When the war in Ukraine started, a lot of people were either happy to have an apartment here already or they bought apartments here as an escape route because they were afraid of what would happen in Europe," says real estate agent Hana from RealityEgypt.
Increased interest in buying here, along with inflation, has driven up apartment prices by 10 to 15 percent. This depends not only on size but also on distance from the sea. "If it's by the sea, count on two million for a 1+1," the broker said of the Egyptian market.