Property for Sale in Czech Republic

Location, climate, economy, and education

The Czech Republic is located in Europe; it is a member of the EU and NATO.

The climate is continental-oceanic: warm in summer, cloudy and humid in winter. The average annual temperature ranges from +5°C to +10°C. The coldest place is the top of the Sněžka mountain, the warmest place is the city of Prague.

The following industries are developed: electrical, metallurgical, machine-building, chemical, light, as well as the service sector and high technologies. The country has 26 public and 44 private universities as well as many historical and natural attractions.

Real estate market in the Czech Republic

The housing market continues to grow; the largest share of purchase and sale transactions falls on the capital - Prague, balneological resorts - Karlovy Vary, Marianske Lazne, and cities in the central part of the country. New residential complexes are being built in insufficient quantities, since the process of agreeing and approving construction in the country is slow. Primary real estate complies with European building standards, as evidenced by customer reviews. Demand is increasing due to foreign investors. The Czechs themselves are also willing to invest in new buildings, which is facilitated by relatively low mortgage rates.

The choice of secondary real estate is quite diverse. The most valued housing is in old, well-renovated stone buildings in historical locations. Buyers are increasingly interested in properties in the countryside near major cities.

Investing in commercial properties is a profitable investment. It is expected that IT companies will become the main leaders in the coming period in the rental market.

Residential real estate in the Czech Republic with high technical and technological standards is in demand among migrants - specialists in the field of information technology. Prague (a monument of history and architecture and a center of business activity) remains an attractive place to live and work, one third of the available apartment stock in the city is rented out. The acquisition of real estate here is considered profitable, which leads to a huge interest in Prague apartments from foreign buyers.

The active sale of real estate in the Czech Republic is due to the understanding by investors of the following risk-free investment factors:

•  successful economic indicators;
•  location (European countries are within driving distance);
•  the growth of the tourist flow;
•  developed infrastructure;
•  a large number of university students are potential tenants.

The price of real estate in the Czech Republic

The cost of real estate in the Czech Republic is affected by the enormously high demand, low supply and rising prices for building materials and household appliances. Experts believe that prices for apartments and houses in the Czech Republic have a steady upward trend, and at a pace that outpaces inflation, which will allow investors to earn on the subsequent resale of the object.

 Estimated prices in Prague (per sq. m):

•  apartments in new buildings - from 2,000 USD,
•  apartments in historical restored buildings with new communications - from 8,000 USD,
•  tenement houses - from 1,800 USD,
•  houses/villas in the secondary market - from 3,000 USD,
•  commercial premises: office - from 3,500 USD, hotel - from 1,900 USD.

Price values are in constant dynamics, so only up-to-date information can be useful.

 Property types for sale

Real estate in the Czech Republic is divided into:

•  houses and villas in the primary and secondary market;
•  apartments in the new buildings - completed objects (construction of the 90s of the 20th century, 21st century) and unfinished buildings;
•  secondary housing:
•  apartments in historical housing stock (18-19 centuries),
•  apartments in brick houses of the first half of the 20th century,
•  apartments in panel houses, which were built before the 90s of the 20th century;
•  land plots (agricultural and non-agricultural);
•  commercial real estate;
•  tenement houses (a real estate object that has both diverse apartments and commercial areas);
•  estates and castles (rarely sold, very expensive).

Real estate website in the Czech Republic

It is safer to use the information of experts and follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a full catalog of real estate in the Czech Republic.

Buying property in the Czech Republic by foreigners (nuances)

It should be taken into account that the property is in private or cooperative ownership. Some cooperatives include in their charter a ban on admitting foreign citizens as members. If such a problem arises, a purchase and sale transaction should be executed for a legal entity - a Czech branch of a foreign company or a company registered in the Czech Republic.

A foreign buyer cannot demolish or reconstruct an object, such actions are prohibited or require special permission.

Buying real estate in the Czech Republic is beneficial for a stable income from renting the property out, living in a country with a high level of economic development, education, and infrastructure.