High-Yield Property Investment in Ostrava
Exclusive Support for Expats: Mortgages, Renovations, Property Management
Why Invest in Ostrava?
Ostrava offers impressive investment opportunities, typically delivering a return on investment (ROI) ranging from 5% to 6%, alongside affordable purchase prices. You can purchase a 2+1 flat for around 2m CZK, for example!
To put this in perspective, Prague, despite being a great city to live in, is not so great from a property investment ROI point of view. High property prices combined with relatively low rents means the income doesn’t often cover mortgage repayments.
Additionally, you will benefit from a wealth of local knowledge and connections. Ostrava is the hometown of Expats Finance Founder and CEO Robin!
Key Benefits
Great return on investment; typically 5-6%
Local knowledge and connections
10+ years of experience helping expats
Full process management
Ready to Find Out More?
Who is This For?
This is ideal for people who want an investment property to rent out but aren’t sure about the local market, or how to manage such a property, particularly for those not living in Ostrava.
Our service is exclusively tailored for expats like yourself, ensuring the initial investment and the management of it is a straightforward process.
This includes:
- Mortgage and property acquisition
- Legal and paperwork assistance
- Renovations, if necessary
- Advertising for tenants, and rental agreements
- Ongoing tenant liaison and maintenance support
We’re not just ANY property management and acquisition company; we’re experts with deep roots in the region.
Case Study
Effortless Investment with Expats Finance
When I decided to invest in property outside Prague, Expats Finance proved to be an invaluable partner. From the very start, they made the entire process seamless, managing everything from the property search and financing to the renovation with expertise and efficiency. Remarkably, I didn’t need to step foot in Ostrava until the flat was fully renovated and ready for me to collect the keys.
Personalised Service Tailored to My Needs
What truly set Expats Finance apart was their personalised approach. They took the time to understand my specific preferences and budget, which came from the appreciation of my existing property in Prague. This tailored service made all the difference in securing the right property that aligned perfectly with my investment goals.
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In-depth Local Expertise
Their comprehensive knowledge of the local market was evident throughout the process. Robin’s insights into the best areas of Ostrava to buy in—and the ones to avoid—were invaluable. It was clear he had deep local roots and experience that guided each decision.
Outstanding Results and Investment Potential
The final result exceeded my expectations. The property not only met my initial requirements but also proved to be a sound long-term investment. Interestingly, the yield per square meter on this property outperformed that of my Prague apartment, even though I chose to rent it to a friend at a rate below the market price.
A Strong Recommendation
I can’t recommend Expats Finance highly enough to anyone considering an investment property. Their expertise and dedication made the entire journey—from finding the property and securing a mortgage to managing the paperwork and renovation—smooth and stress-free. Best of all, I was able to manage it all remotely from the comfort of my home.
I can’t recommend Expats Finance highly enough to anyone considering an investment property. Their expertise and dedication made the entire journey—from finding the property and securing a mortgage to managing the paperwork and renovation—smooth and stress-free. Best of all, I was able to manage it all remotely from the comfort of my home.
Frequently Asked Questions
What types of properties do you specialize in?
We always aim to purchase flats in good locations. Typically we are targeting 1+1, 2+1 or even 3+1. Ideally we recommend flats before renovations, which we will of course manage for you and they can be financed by the bank as well.
What are the typical costs involved in purchasing a property in this way?
There is a clear structure for each part of the acquisition process. To break it down, the acquisition fee is 65,000 CZK for the successful purchase of the property, 10% for renovation management, and 10% for property management. Mortgage advisory is always for free as we are paid by the banks.
Why should I invest in Ostrava rather than Prague?
We started this project because we have the local knowledge of the area but also because we noticed investment properties typically have a higher return on investment than in Prague. While we would be happy to discuss all your options with you and help you arrange a mortgage and legal checks for purchasing property anywhere in the Czech Republic, for now our renovation and property management assistance services are exclusive to Ostrava.
What kind of renovations do you recommend for investment properties?
This entirely depends on your budget and inclination, however our vision is to do slightly above standard renovation to attract better tenants and charge above average rents to boost your return on investment. Not all properties need to be renovated, but we typically find we can get higher rent payments from more modern properties and it can work out cheaper to buy an older property and renovate it than to buy a new build.
How reliable are the contractors for the renovation work?
Just like anyone we partner with, we carefully evaluate and screen all contractors before partnering with them. We are committed to providing the best service possible, and this includes ensuring the contractors entrusted with your investment meet our high standards.
Do I have to be present in Ostrava for this process?
No, you don’t even have to leave your home town if you don’t want to. We take care of each step of the process in a way that allows you to stay in the comfort of your own home if you prefer. We have even had one customer complete this process without being in the Czech Republic at all. Most of the signings are done based on Power of Attorney, typically we send the client the PDF to be printed and verified at CzechPoint and we take care of the rest.
How long does the entire buying process usually take?
Since we do not want to buy just ANY property, finding the ideal investment one will take typically 1-2 months. Then around 2 months before you get your keys and 1-2 months for renovation. From the moment we find the investment flat into renting out to tenants, we are under 4 months.
Can you provide information on rental yields and property management options?
We are getting 5-6% gross rent (monthly rent vs total investment including our acquisition fee and renovations) and 4-5% net rent after deducting all costs, such as monthly repair fund for the building and 10% management fee.
What should I consider when choosing a location for my investment property?
You can leave this to us. Our team grew up and spent the majority of our lives in Ostrava and we know the city well. There are some better and some worse locations so we will make sure we will aim only at the location which promise a great future possibility for property appreciation.
How do you support clients who are not fluent in Czech?
The whole focus of Expats Finance is to assist expats with purchasing property here in the Czech Republic. All employees speak English fluently, as well as Czech, so we will be here to translate whenever you need, as well as provide in-depth information on processes and how they work.