We have closed the first tranche of investment in the Apartments Lipno project

Czech and Slovak investors have reacted to changes in the holiday property market during the covid-19 pandemic, when the importance of summer and winter recreation in the Czech Republic increased at the expense of foreign tourism. The increased demand has thus pushed up the prices of holiday properties by 32% [1] over the last three years. Moreover, the Lipno area, where the project will be built, is one of the most popular and attracts Austrian clients as well. This is also due to the fact that the project will be built in the quieter northern part of Lipno, which, unlike the main tourist centres here, does not suffer from excessive tourism. Robert Růžička, the managing director of Top Building Group, says of the company's future plans, “We want to start sales as early as May. We believe that customers will appreciate the quiet location within easy reach of tourist and recreational centres.”

The Apartments Lipno project will be built in two phases and will offer a total of 137 apartments with a restaurant and reception in 18 apartment buildings. In the first phase, 69 apartments will be built in 9 buildings. “The units will be for sale to end-users who can either get a retreat in a popular recreational area or acquire an interesting investment property with an additional return,” says Samuel Frankl, Crowdberry's investment manager, and continues, “our investors will get a share of the profits from this sale. We will still be preparing a second tranche of CZK 45 million for the platform.”