Buying property in the Czech Republic

Buying property in the Czech Republic

Citizens from EU member states may buy Czech properties directly while citizens from other countries cannot do that. Acquiring agricultural land and forests from private ownership is regulated for foreigners.

Seeking expert advice

If you want to buy property in the Czech Republic, you should contact an expert in order to be aware of the legal buying property procedure. The best way is to choose a legal company that normally provides services in other languages.

Investment tendencies

A growing number of foreign nationals from the EU and from other nations the world over are buying apartment units and buildings for investment purposes. These people are in turn renting these units to other people, generally foreign nationals who are in the country for business purposes. Industry analysts maintain that this trend is likely to continue well into the next decade as more and more foreign nationals are spending time in the country for business purposes and reasons.

The procedure of non-EU citizens buying Czech property

Buying property in the Czech RepublicA non-EU citizen can buy and possess real estate in the Czech Republic after establishing a limited liability company in the Czech Republic. Once the company was established, the purchase of real estate can be a simple two-step process.

Research the market

Most properties are advertised a good ten or 15 percent above their actual market value and it is a good idea to research the market thoroughly before making an offer to the owner. Properties listed on English websites often have higher asking prices than those aimed at the local market.

As a rule, properties in popular historical districts in Prague tend to retain their value or increase in value. If you are looking to buy a house in newer suburbs then you should keep in mind proximity to good hospitals and schools, the presence of green spaces and the accessibility of the city center.

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