The Property Office had CZK 1.79 bin in revenue last year, the second highest since its inception

The Office for State Representation in Property Matters (ÚZSVM) generated CZK 1.79 billion in revenue last year. The income was CZK 20 million higher than in 2021 and the second highest since the office was established in 2002. The majority of the revenue was made up of profits from the sale of unneeded state real estate, while leases of state real estate also accounted for a significant share. The authority said in a press release today.

Sales of unneeded state real estate generated CZK 1.2 billion for the Office. The most significant transactions included the sale of apartment buildings in Motol in Prague for CZK 138.6 million, the sale of land in Brno-Žabovřesky for around CZK 50 million and the sale of the Mimóza spa house in Karlovy Vary for CZK 19.5 million. Real estate leases generated approximately CZK 236 million.

"I consider the second best income result in the history of our office to be an extraordinary success, because a significant part of the ÚZSVM agenda, such as representing other organisational units of the state in legal disputes, tracking down unknown owners or dealing with unrecognised state properties, does not generate any income. In addition, a total of 3,615 properties with a book value of almost CZK 189 million were transferred to municipalities and regions free of charge last year," said Kateřina Arajmu, Director General of the ÚZSVM.

The expenditures of the ÚZSVM decreased by CZK 43 million to CZK 1.62 billion last year compared to 2021. This was mainly due to austerity measures.

The Office for State Representation in Property Matters represents the Czech Republic in legal disputes related to state property, in addition to the administration of property. The Office acts mainly before courts and arbitration bodies instead of other organisational units of the state. The Office's main source of income is the sale and lease of land, buildings and structures, as well as the funds that have accrued to the State from the so-called 'disinheritance' of deceased persons without heirs.

Source: ÚZSVM and CTK