Hlavn\u00edm probl\u00e9mem rusk\u00fdch investor\u016f \u2014 hled\u00e1n\u00ed optim\u00e1ln\u00ed (z hlediska rizik a n\u00e1vratnosti) objektu pro investice. \u041d\u0435\u0436\u0438\u043b\u0430\u044f komer\u010dn\u00ed nemovitosti obvykle nen\u00ed k dispozici b\u011b\u017en\u00fdm investor\u016fm z d\u016fvodu jeho vysok\u00e9 ceny, tak\u017ee v\u011bt\u0161ina z\u00e1kazn\u00edk\u016f z\u00edsk\u00e1vaj\u00ed bydlen\u00ed k pron\u00e1jmu. Koup\u011b bytu a pron\u00e1jem dlouhodob\u00fd pron\u00e1jem m\u00e1 zjevn\u00e9 v\u00fdhody \u2014 v prvn\u00ed \u0159ad\u011b je to jednoduchost v \u0159\u00edzen\u00ed, ale existuj\u00ed i nev\u00fdhody \u2014 relativn\u011b n\u00edzk\u00e1 v\u00fdt\u011b\u017enost (cca 3 %) a probl\u00e9my s vyst\u011bhov\u00e1n\u00ed n\u00e1jemn\u00edk\u016f v p\u0159\u00edpad\u011b pot\u0159eby.<\/p>\n
Minim\u00e1ln\u00ed, co se t\u00fd\u010de ztr\u00e1t, tak pro investice \u2014 studentsk\u00e9 apartm\u00e1ny, druh „zlat\u00e1 st\u0159edn\u00ed cesta“ na trhu s nemovitostmi. Dobr\u00e1 volba z hlediska bilance riziko\/v\u00fdnos. Pravda, zat\u00edm jen 5 % rusk\u00fdch investor\u016f zva\u017euje investice do tohoto typu nemovitost\u00ed, zat\u00edmco v zahrani\u010d\u00ed je ji\u017e dlouhou dobu pova\u017eov\u00e1n za jeden z nejv\u00edce ziskov\u00e9 a perspektivn\u00ed.<\/p>\n
V roce 2012 zahrani\u010dn\u00ed investo\u0159i ka\u017edoro\u010dn\u011b investuj\u00ed do studentsk\u00fdch byt\u016f ne m\u00e9n\u011b ne\u017e $6 miliard dolar\u016f \u2014 a to pouze za p\u0159edpokladu velk\u00e9 transakce (dra\u017e\u0161\u00ed $7,5 milionu). Ne\u017e v\u00fdhody takov\u00e9ho n\u00e1stroje?<\/p>\n
Za prv\u00e9, po\u010det student\u016f ve sv\u011bt\u011b roste<\/strong>. Podle OECD (Organizace pro hospod\u00e1\u0159skou spolupr\u00e1ci a rozvoj), po\u010det lid\u00ed, kte\u0159\u00ed studuj\u00ed v zahrani\u010d\u00ed, se zv\u00fd\u0161il z 2 milion\u016f v roce 2000 na 4,5 milionu v roce 2012-m, a do roku 2025 se jejich po\u010det dos\u00e1hne 8 milion\u016f lid\u00ed. Krom\u011b toho r\u016fst st\u0159edn\u00ed t\u0159\u00eddy a zvy\u0161uj\u00edc\u00ed se po\u010det bohat\u00fdch lid\u00ed v zem\u00edch s rozv\u00edjej\u00edc\u00edmi se ekonomikami (zejm\u00e9na z \u010c\u00edny), tak\u00e9 znamen\u00e1 r\u016fst popt\u00e1vky na pron\u00e1jem studentsk\u00fdch apartm\u00e1n\u016f.<\/p>\n Vysok\u00e1 popt\u00e1vka znamen\u00e1, \u017ee rizika spojen\u00e1 s investicemi do studentsk\u00fdch byt\u016f ni\u017e\u0161\u00ed, ne\u017e p\u0159i investic\u00ed do \u043d\u0435\u0436\u0438\u043b\u0443\u044e nemovitost\u00ed. Tak, na n\u00e1jemce kancel\u00e1\u0159\u00ed v\u00fdrazn\u011b ovliv\u0148uje hospod\u00e1\u0159sk\u00e1 situace, a studenti pot\u0159ebuj\u00ed bydlen\u00ed je v\u017edy, i v dob\u011b krize.<\/p>\n Za druh\u00e9, v\u00fdnosy studentsk\u00fdch apartm\u00e1n\u016f jsou vy\u0161\u0161\u00ed<\/strong>, ne\u017e v\u00fdnos b\u011b\u017en\u00fdch byt\u016f, \u0441\u0434\u0430\u044e\u0449\u0438\u0445\u0441\u044f dlouhodob\u00fd pron\u00e1jem. V dobr\u00fdch \u010dtvrt\u00edch evropsk\u00fdch m\u011bst student nemovitost\u00ed p\u0159in\u00e1\u0161\u00ed v pr\u016fm\u011bru o 4-6 % ro\u010dn\u011b, zat\u00edmco b\u011b\u017en\u00e9 bydlen\u00ed \u2014 2-3 %. V\u00fdnos m\u016f\u017ee b\u00fdt vy\u0161\u0161\u00ed nebo ni\u017e\u0161\u00ed o 4-6 % v z\u00e1vislosti na tom, jak nejv\u011bt\u0161\u00ed univerzita se nach\u00e1z\u00ed v sousedstv\u00ed, daleko jest od univerzity apartm\u00e1ny se nach\u00e1zej\u00ed a jak jsou kvalitn\u00ed a modern\u00ed. Respektive, \u010d\u00edm vy\u0161\u0161\u00ed kvalita a lep\u0161\u00ed m\u00edsto, t\u00edm ni\u017e\u0161\u00ed riziko a vy\u0161\u0161\u00ed v\u00fdnos.<\/p>\n Za t\u0159et\u00ed, investice do studentsk\u00e9 apartm\u00e1ny se vyzna\u010duj\u00ed n\u00edzk\u00fdm prahem vstupu na trh<\/strong>. Koupit lze apartm\u00e1ny za cenu od \u20ac90 000 \u2013 100 000, ale pro investice v cel\u00e9 budov\u011b pot\u0159ebovat \u20ac15-30 milion\u016f Nap\u0159\u00edklad, investo\u0159i mohou koupit nov\u00e9 studentsk\u00e9 apartm\u00e1ny o rozloze 17-23 m2 za k\u010d 70 000 \u2013 100 000 v Liverpoolu. V\u00fdnos (bez ode\u010dten\u00ed v\u00fddaj\u016f) \u010din\u00ed 7 %, nebo \u00a34 900 za rok p\u0159i n\u00e1kupu studia za \u00a370 000. P\u0159i tomto rozpo\u010dtu n\u00e1kup lze sn\u00ed\u017eit klesly na polovinu, zda vyu\u017e\u00edt hypote\u010dn\u00ed \u00fav\u011br. Pro majitele velk\u00fdch rozpo\u010dt\u016f bude zaj\u00edmav\u00fd n\u00e1kup cel\u00e9 koleji. Tak za \u20ac14,7 miliardy lze z\u00edskat studentsk\u00fd komplex na sto apartm\u00e1n\u016f v Norimberku. V\u00fdnos \u2014 4,9 %, nebo v\u00edce ne\u017e \u20ac720 000 za rok.<\/p>\n Dal\u0161\u00ed plus \u2014 pasivn\u00ed management<\/strong>. Pro majitele podnik\u016f, v Rusku, zahrani\u010dn\u00ed nemovitosti \u2014 n\u00e1stroj \u00faspory finan\u010dn\u00edch prost\u0159edk\u016f, a ne hlavn\u00ed zdroj p\u0159\u00edjm\u016f, a nemaj\u00ed \u010das na samostatn\u00e9 \u0159\u00edzen\u00ed. P\u0159i investic\u00edch do studentsk\u00fdch byt\u016f managementu prov\u00e1d\u00ed veden\u00ed spole\u010dnosti, kter\u00e9 je obvykle developer, kte\u0159\u00ed postavili kolej, a investor nemus\u00ed p\u0159em\u00fd\u0161let o \u0159e\u0161en\u00ed r\u016fzn\u00fdch probl\u00e9m\u016f (hled\u00e1n\u00ed n\u00e1jemn\u00edk\u016f, opravy atd.). Cena slu\u017eeb spr\u00e1vcovsk\u00e9 spole\u010dnosti \u2014 asi 10 % z n\u00e1jemn\u00edho p\u0159\u00edjm\u016f.<\/p>\n \u00da\u010dast v \u0441\u043e\u0438\u043d\u0432\u0435\u0441\u0442\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u0438 v\u00fdstavby komplex\u016f apartm\u00e1n\u016f v Evrop\u011b pro soukrom\u00e9 investory znamen\u00e1 pasivn\u00ed p\u0159\u00edlohy (management se zab\u00fdv\u00e1 spr\u00e1vcovsk\u00e1 spole\u010dnost), p\u0159i\u010dem\u017e kupuj\u00edc\u00ed obdr\u017e\u00ed p\u0159\u00edjem nejen z pron\u00e1jmu, ale i od \u0440\u0435\u0434\u0435\u0432\u0435\u043b\u043e\u043f\u043c\u0435\u043d\u0442\u0430.<\/p>\n Nicm\u00e9n\u011b, stejn\u011b jako p\u0159i investic\u00edch v jin\u00fd druh nemovitosti, u p\u0159\u00edloh v studentsk\u00fdch byt\u016f m\u00e1 sv\u00e1 rizika. Nap\u0159\u00edklad studentsk\u00fdch byt\u016f je obt\u00ed\u017en\u00e9 (nebo sp\u00ed\u0161e nemo\u017en\u00e9) opakovan\u00e9 vyu\u017eit\u00ed, proto\u017ee jsou um\u00edst\u011bny ve specializovan\u00fdch komplex\u016f v bl\u00edzkosti univerzit, a v nich m\u016f\u017ee \u017e\u00edt jen studenti. Sami investo\u0159i mohou vyu\u017e\u00edt apartm\u00e1n pro v\u00e1\u0161 pobyt, stejn\u011b jako a usadit se v nich n\u011bkoho, kdo nen\u00ed student. A pokud apartm\u00e1ny jsou um\u00edst\u011bny v sam\u00e9m srdci obl\u00edben\u00e9 trhu a popt\u00e1vka po tomto \u0161kolou padl, majitel bude obt\u00ed\u017en\u00e9 prodat objekt.<\/p>\n Likvidita studentsk\u00fdch apartm\u00e1n\u016f jsou ni\u017e\u0161\u00ed ne\u017e b\u011b\u017en\u00e9 likvidity byt\u016f, av\u0161ak vy\u0161\u0161\u00ed, ne\u017e nebytov\u00fdch objekt\u016f.<\/p>\n Je d\u016fle\u017eit\u00e9 si uv\u011bdomit, \u017ee studentsk\u00e9 apartm\u00e1ny, hotely \u2014 to nen\u00ed tot\u00e9\u017e, \u017ee b\u011b\u017en\u00e9 byty v bytov\u00fdch budov\u00e1ch. \u010casto v\u00fdvoj\u00e1\u0159i maj\u00ed nezku\u0161enost investor\u016f a inzeruj\u00ed studia v bytov\u00fdch domech v oblastech v bl\u00edzkosti univerzity jsou studentsk\u00e9 apartm\u00e1ny. Rozd\u00edl je v tom, \u017ee na dokladech mus\u00ed b\u00fdt uvedeno, \u017ee objekt je mo\u017en\u00e9 pou\u017e\u00edt pouze jako studentskou kolej a \u017e\u00edt v budov\u011b mohou pouze studenti univerzity.<\/p>\n Jak bylo uvedeno v\u00fd\u0161e, v\u00fdnos studentsk\u00fdch apartm\u00e1n\u016f je 4-6 %. Pokud prod\u00e1vaj\u00edc\u00ed slibuje vy\u0161\u0161\u00ed v\u00fdnos (9-10 % nebo vy\u0161\u0161\u00ed), pak je pravd\u011bpodobn\u00e9, \u017ee investice, kter\u00e9 budou spojeny s dal\u0161\u00edmi riziky \u2014 \u043d\u0435\u043f\u0440\u0438\u0432\u043b\u0435\u043a\u0430\u0442\u0435\u043b\u044c\u043d\u043e\u0435 um\u00edst\u011bn\u00ed, a proto popt\u00e1vka je n\u00edzk\u00e1, neefektivn\u00ed \u0159\u00edzen\u00ed nebo \u0438\u0437\u043d\u043e\u0448\u0435\u043d\u043d\u043e\u0441\u0442\u044c budovy. Aby se ochr\u00e1nili od posledn\u00edho rizika \u2014 n\u00edzk\u00e1 kvalita objektu a jeho zastar\u00e1v\u00e1n\u00ed \u2014 doporu\u010duje se kupovat nov\u00e9 za\u0159\u00edzen\u00ed. Nejlep\u0161\u00ed m\u00edsto pro n\u00e1kup byt\u016f na prim\u00e1rn\u00edm trhu, tak jako p\u0159i n\u00e1kupu sekund\u00e1rn\u00ed bydlen\u00ed rychle vznikaj\u00ed n\u00e1klady na opravy, \u010d\u00edm\u017e se sni\u017euje v\u00fdnos.<\/p>\n Kupovat byty student je v\u00fdhodn\u00e9 ve velk\u00e9 Brit\u00e1nii, N\u011bmecku a Francii. Tyto trhy jsou spolehliv\u00e9 a vyzna\u010duj\u00ed se vysokou popt\u00e1vkou ze strany m\u00edstn\u00edch a zahrani\u010dn\u00edch student\u016f (pod\u00edl posledn\u00edch je 10-20 % z celkov\u00e9ho po\u010dtu student\u016f). P\u0159\u00edle\u017eitosti pro soukrom\u00e9 investory na trz\u00edch v Rakousku, \u0160pan\u011blsku a \u0160v\u00fdcarsku jsou omezen\u00e9, proto\u017ee tam takov\u00e9 objekty jsou st\u00e1le ve f\u00e1zi n\u00e1vrhu \u0441\u043a\u0443\u043f\u0430\u044e\u0442\u0441\u044f firemn\u00edmi investory, spole\u010dnostmi a nadacemi. Co se t\u00fd\u010de USA \u2014 nejv\u011bt\u0161\u00edho trhu studentsk\u00fdch apartm\u00e1n\u016f, je tam nab\u00eddka nadbyte\u010dn\u011b, potenci\u00e1l r\u016fstu n\u00e1jemn\u00e9ho omezen, a dokonce i m\u00edstn\u00ed investo\u0159i sp\u011bchaj\u00ed na evropsk\u00e9 trhy v hled\u00e1n\u00ed v\u00edce ziskov\u00fdch nab\u00eddek.<\/p>\n P\u0159i v\u00fdb\u011bru m\u011bsta je t\u0159eba v\u011bnovat pozornost na p\u0159\u00edtomnost „magnet“ \u2014 se nach\u00e1z\u00ed v bl\u00edzkosti obl\u00edben\u00e9ho univerzity, a tak\u00e9 na nedostatek nadm\u011brn\u00e9 nab\u00eddky na m\u00edstn\u00edm trhu s n\u00e1jemn\u00edm bydlen\u00edm, kde p\u016fj\u010dek apartm\u00e1nu se m\u016f\u017ee tvo\u0159it konkurenci velk\u00fd po\u010det soukrom\u00fdch byt\u016f, a na v\u00fdnos bude m\u00edt nep\u0159\u00edzniv\u00fd vliv n\u00edzk\u00e1 \u00farove\u0148 n\u00e1jemn\u00e9ho.<\/p>\n Je tak\u00e9 d\u016fle\u017eit\u00e9, je demografick\u00e1 situace \u2014 jak roste a bude r\u016fst po\u010det student\u016f ve m\u011bst\u011b. Pokud po\u010det student\u016f se nem\u011bn\u00ed nebo kles\u00e1, ale p\u0159i tom jsou postaveny nov\u00e9 koleje a komplexy, pak se obsazenost bude levn\u00e9, apartm\u00e1ny budou opu\u0161t\u011bny a investice p\u0159inese zisk. Nap\u0159\u00edklad v N\u011bmecku se po\u010det student\u016f roste t\u00e9m\u011b\u0159 v\u0161ude, ale jsou tu m\u011bsta, jako je Yen a do greifswaldu, kde po\u010det student\u016f se za p\u011bt let sn\u00ed\u017eil na 10-11 %.<\/p>\n Ve velk\u00e9 Brit\u00e1nii pro investice do studentsk\u00fdch byt\u016f pohled je velk\u00e9 univerzitn\u00ed centra s nedostate\u010dnou nab\u00eddkou bydlen\u00ed, jako je Bristol, Lond\u00fdn, Oxford a Edinburgh, stejn\u011b jako Manchester. V N\u011bmecku potenci\u00e1l je tam u m\u011bst Bavorska (W\u00fcrzburg, Norimberk, Pasov), stejn\u011b jako Heidelberg a Frankfurt nad Mohanem. Ve Francii existuj\u00ed dobr\u00e9 investi\u010dn\u00ed p\u0159\u00edle\u017eitosti existuj\u00ed ve m\u011bstech Aix-en-Provence, Lille, Montpellier, Pessac, Marseille, \u0160trasburk.<\/p>\n \u041b\u0430\u0439\u0444\u0445\u0430\u043a pro investory \u2014 mezi prvn\u00edmi dozv\u011bd\u011bt, kde a kdy bude otev\u0159en na fakult\u011b nebo nov\u00e1 univerzita, a koupit v bl\u00edzkosti apartm\u00e1n\u016f.<\/p>\n Nap\u0159\u00edklad, na konci roku 2017 za\u010dne v\u00fdstavba are\u00e1lu v Cardiffu, a to d\u00edky projektu m\u00edstn\u00ed univerzitu, p\u0159il\u00e1k\u00e1 2 000 student\u016f z cel\u00e9ho sv\u011bta. A do roku 2019 v severn\u00edm p\u0159edm\u011bst\u00ed Pa\u0159\u00ed\u017ee se otev\u0159e nejv\u011bt\u0161\u00ed evropsk\u00fd are\u00e1l fakult soci\u00e1ln\u00edch v\u011bd, ve kter\u00e9m budou pracovat a u\u010dit se u\u010ditel\u00e9 a studenti z n\u011bkolika univerzit.<\/p>\n \u0160\u00ed\u0159en\u00ed internetov\u00fdch technologi\u00ed, na popularit\u011b z\u00edsk\u00e1 distan\u010dn\u00ed vzd\u011bl\u00e1v\u00e1n\u00ed, ale tradi\u010dn\u00ed formy vzd\u011bl\u00e1v\u00e1n\u00ed z\u016fstanou v centru pozornosti student\u016f v p\u0159\u00ed\u0161t\u00edch desetilet\u00edch. A to znamen\u00e1, \u017ee studentsk\u00e9 apartm\u00e1ny v bl\u00edzkosti vysok\u00fdch \u0161kol st\u00e1le stejn\u011b popul\u00e1rn\u00ed.<\/p>\n Ji\u0159\u00ed \u041a\u0430\u0447\u043c\u0430\u0437\u043e\u0432, managing partner Tranio<\/p>\n","protected":false},"excerpt":{"rendered":" Hlavn\u00edm probl\u00e9mem rusk\u00fdch investor\u016f \u2014 hled\u00e1n\u00ed optim\u00e1ln\u00ed (z hlediska rizik a n\u00e1vratnosti) objektu pro investice. \u041d\u0435\u0436\u0438\u043b\u0430\u044f komer\u010dn\u00ed nemovitosti obvykle nen\u00ed<\/p>\n","protected":false},"author":1,"featured_media":468,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[133],"tags":[],"class_list":["post-966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-danove-informace-ve-francii"],"translation":{"provider":"WPGlobus","version":"3.0.0","language":"cs","enabled_languages":["ru","uk","en","de","fr","it","es","pl","pt","bg","cs","da","et","fi","hr","hu","lt","lv","mk","no","ro","sk","sl","sq","sr","tr","nl","am","ca","sv"],"languages":{"ru":{"title":false,"content":false,"excerpt":false},"uk":{"title":false,"content":false,"excerpt":false},"en":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"it":{"title":false,"content":false,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"pl":{"title":false,"content":false,"excerpt":false},"pt":{"title":false,"content":false,"excerpt":false},"bg":{"title":false,"content":false,"excerpt":false},"cs":{"title":true,"content":true,"excerpt":false},"da":{"title":false,"content":false,"excerpt":false},"et":{"title":false,"content":false,"excerpt":false},"fi":{"title":false,"content":false,"excerpt":false},"hr":{"title":false,"content":false,"excerpt":false},"hu":{"title":false,"content":false,"excerpt":false},"lt":{"title":false,"content":false,"excerpt":false},"lv":{"title":false,"content":false,"excerpt":false},"mk":{"title":false,"content":false,"excerpt":false},"no":{"title":false,"content":false,"excerpt":false},"ro":{"title":false,"content":false,"excerpt":false},"sk":{"title":false,"content":false,"excerpt":false},"sl":{"title":false,"content":false,"excerpt":false},"sq":{"title":false,"content":false,"excerpt":false},"sr":{"title":false,"content":false,"excerpt":false},"tr":{"title":false,"content":false,"excerpt":false},"nl":{"title":false,"content":false,"excerpt":false},"am":{"title":false,"content":false,"excerpt":false},"ca":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false}}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/posts\/966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/comments?post=966"}],"version-history":[{"count":0,"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/posts\/966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/media\/468"}],"wp:attachment":[{"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/media?parent=966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/categories?post=966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nalog.fr\/cs\/wp-json\/wp\/v2\/tags?post=966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u00daskal\u00ed<\/h2>\n
Kde koupit<\/h2>\n