State Property Office had revenues of CZK 1.83 billion last year, up CZK 39.8 million y/y

The Office for Representation of the State in Property Matters (ÚZSVM) achieved CZK 1.83 billion in revenue last year. Compared to the previous year, it increased by CZK 39.8 million and was the second highest since its establishment in 2002, according to the annual report of the Property Office published on its website. The main revenue item was the sale of unneeded state real estate, which generated CZK 1.1 billion last year.

Most of the real estate sales took place through electronic auctions, of which the Office of Property Management held 4,733. The sale of a warehouse building in Prague's Karlín district brought the highest amount, it was auctioned for CZK 56.1 million. The sale of an apartment building in Stary Brno fetched CZK 51.6 million, while the sale of land in Brno fetched CZK 38.4 million. The Property Office received CZK 235.7 million from real estate leases. Another CZK 65 million was obtained by the Property Office from the sale of property from criminal activities.

In addition to the sale of real estate, the ÚZSVM also transferred it free of charge to other state institutions or local governments. Last year, this involved a total of 16,661 properties with a total value of CZK 892 million. Among the state institutions, the State Land Office acquired the most real estate, with 3,489 items worth CZK 100.6 million, followed by the Forestry of the Czech Republic with 796 properties worth CZK 33.6 million. The ÚZSVM transferred 2,571 properties worth CZK 256.6 million to municipalities, and 980 properties worth CZK 75.5 million to regions.

Last year, the expenditures of the Property Office reached CZK 1.74 billion, up by CZK 61 million compared to 2022. The increase is related to the increase in salary tariffs.

The Office for State Representation in Property Matters, in addition to administering property, represents the Czech Republic in legal disputes concerning state property. The Office acts mainly before courts and arbitration bodies instead of other organisational units of the state. The main source of the Office's 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.