APARTMENTS - Development firm České nemovitosti will build 338 new apartments in Holešovice, Prague 7, reports Hospodářské noviny. The modern residential complex will stand on the site of a former dairy that dates to the early 20th century. Apartment prices will range from 30,000 to 60,000 Kč ($1,220 to 2,440) per square meter. Also included in the project will be an underground garage with a capacity of 261 parking spaces.

MORTGAGES - Some banks have started to raise the price of mortgage loans following the quarter-point interest rate increase by the Czech National Bank (ČNB) in late October, according to reports in Hospodářské noviny and Lidové noviny. HVB Bank, Živnostenská banka and Raiffeisenbank have already raised their rates; other banks are considering similar hikes. HVB Bank bumped its rate by roughly 0.3 percent, raising its actual rate on a 20-year mortgage loan fixed for five years to 4.3 percent. Živnostenská banka raised rates fixed for five years by 0.15 percent to 3.9 percent, and Raiffeisenbank raised its rate by nearly 0.4 percent to 4.22 percent.

HOUSING - The steady growth in home prices that has lasted for many years has stopped, Mladá fronta Dnes (MfD) reports, citing preliminary data from the Regional Information Institute in Brno (RIIB). For example, a 68-square-meter home in Karlovy Vary costs 150,000 Kč less now than a year ago. MfD says that prices of older homes are falling in all regional capitals except Olomouc, north Moravia and Ústí nad Labem. "Prices went up considerably before accession to the EU, and the situation has calmed down now," Milada Kadlecová of RIIB told MfD.

DROP - The office vacancy rate in Prague fell from 13.6 percent to 11.8 percent in the third quarter, according to a report released by the Prague Research Forum. The decrease was due to a high take-up of space, most notably in Prague 4 and Prague 8. An increase in new space in the fourth quarter leads forecasters to believe that the rate will soon increase.

EXPENSIVE - The cost of doing business on Na Příkopě street is on the rise, copying a worldwide trend, according to a report released by C&W/H&B. One square meter of space on the street costs 160 euros ($192/$4,730), making it the 17th most expensive street in the world, according to figures compiled by the firm. "The race for prime retail space is continuing unabated both in the Czech Republic and internationally," says Jan Kotrbacek of C&W/H&B. "The number of retailers who want to have their outlets in the top shopping destinations continues to increase, which in turn is pushing up rents."

SALE - The city of Prague has sold a property on Národní třída for a record price of 234,700 Kč per square meter to the firm Ditrich, the highest bidder, reports Hospodářské noviny. The total cost of the 783-square-meter property was 183.8 million Kč. Ditrich plans to build a seven-story, multipurpose building on the site that will include restaurants, shops and a relaxation center in the basement. The property is currently being used as a parking lot.

EXPANDING - Real estate agency RE/MAX, which entered the Czech market in April, has opened its 10th branch in the Czech Republic. The company has also launched a Web site (www.remax-czech.cz) that offers a searchable database of RE/MAX properties worldwide.

INVESTMENT - Direct foreign investment will hit a record-high 220 billion Kč this year, according to estimates by government agency CzechInvest and the ČNB, Právo reports. Foreign companies invested nearly 190 billion Kč between January and August. This is more than the 114.7 billion Kč spent for all of 2004. Privatization proceeds, especially revenues from the sale of Český Telecom and Unipetrol, will account for more than a third of the total sum, CzechInvest CEO Radomil Novák told the paper.