| Why
buy property in the Czech Republic ?
The Czech real estate market since 1991
has continued to offer good investment opportunities for international
property buyers and since the Czech Republic entered the European
Union in May 2004 the situation has gotten even better.
Stability characterizes the overall political
and economic situation in the Czech Republic, and is perceived
by very low inflation and interest rates.
The Czech Republic's acceptance in the EU
and NATO underscores the strength of the countries economic future.
A very favourable investment climate is
provided for by all these factors.
Investors, especially in the residential
market, will find favourable opportunities because of a high per
capita spending in comparison with the neighbouring countries
and increasing demand, reasonable construction standards and low
building costs.
Also, Czech nationals now receive mortgages of up to 100% of housing
prices making their own investing in real estate a viability unknown
in previous years.
Whether investing in Czech real estate purely
as a business investment (buying - restructuring - reselling)
or buying property such as hotel, apartment block or houses which
then to rent out and do business with on a continuous basis, or
even buying a home where to live, retire, holidays etc. ... are
all very plausible investment opportunities compared to doing
the same in other western European countries.
Czech real estate and property such as:
houses, villas, flats, apartment blocks, offices, country land
houses, agricultural and farming land, forests and industrial
development plots ... are selling at a much lower price than elsewhere
in Europe and offer exceptional return from the investment.
Examples:
A small detached
house in an average Czech town, can be bought for the same
price that a garage would cost in most other western European
countries.
A larger family
villa with large garden (1,500 m) can cost
Euro 25,000
A summer cottage
(chata) with 4 rooms with connected supplies of electricity
and water, and 2000 sq m of garden plot with fruit trees and vegetable
patches can be bought for Euro 4,800
An apartment
house block containing 10 individual apartments (ready
to rent out) in a major Czech town such as Plzen costs Euro 120.000
Since the fall of communism and the opening
up of Czech borders in 1991 the Czech Republic has had an average
of 15 million tourists each year. The population of the Czech
Republic is around 10 million so the visitors add up to one and
a half times the local population and this goes to show that there
is great interest in the country from both the tourism sector
point of view (renting out, managing pensions, hotels, residential
houses and apartments) to the business sector (reselling office
buildings, renting offices, reconstruction-reselling).
Who would want to buy Czech
real estate ?
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