How to decide on buying Czech real estate
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Czech Real Estate buying guide
How to decide on where and what...
... and to start contemplating the 'how'.

Here is a basic outline of how one would go about deciding if, what and where to acquire property in the Czech Republic.

This is aimed at both rich investors who have money to invest solely as a business venture and also at the small investor buying a retirement home, setting up a bed and breakfast business or just looking for a second home (holiday) option.

In both cases you will want to get precise verifiable information and will want to avoid stupid mistakes.

Rich investors might afford to make mistakes but usually don't (that's why you are rich) and small investors can't afford to make mistakes as you don't have money to throw around.

Planning, recognition, information gathering.

Step 1 ]

There is a lot of objective, very useful, indepth information on this website.
It's free. Use it.


Step 2 ]

Decide what you want and where.

Got the finances to buy a residential house in Prague ?
Then Prague is your area.

Don't have an extravagant budget ?
Then Prague is not your area but 50 to 70 km from Prague might be and you won't be looking to buy a castle but probably a larger residential villa or property for renovation.

Need to have fast access to an international airport for moving around Europe or elsewhere ?
Then Prague and surrounding area is your target.

Will not be dependent on having to move around Europe etc. and intend on spending months or years at a time in your Czech property?
Then the whole Czech republic is your area of interest and good cheap deals will come your way.

Are you a city type ?
Then a major Czech town or it's surrounding area is your target.
This applies also to if your intended investment is aimed at acquiring real estate with which you intend doing business.
Renting it out as residential apartments, renovating it to resell it.
Maybe even opening up a business/factory.

Love the countryside and don't care too much for town life ?
Then most Czech country side will do for you.... but even here you will wan to find out about the surrounding area, amenities, character of the local folk, entertainment and cultural prospects in that area etc.

Step 3 ]

Find out more about the Czech Republic = visit it.

Even if you have lot's of money to spend and have decided that the Czech real estate market is a good investment with high returns (which it is) you would still want to make at least one visit to the country before really deciding that you do want to invest.

For the individual, private investor the more so the need to 'sus' out the location.

Especially if you intend on living in your property off your pension, or spending your holidays there, and especially if you are a small investor looking for a residential property to then rent out.

Prague, and hence the Czech Republic really are in the center of Europe and you can get to Prague very easily and cheaply from most European and worldwide destination.

Easy-jet, the low cost airline just to mention one of many, offer ridiculously cheap flights to Prague from many destinations and you can get a very decent pension or small hotel in Prague for around Euro 30 / 40 per day.

This should be your first investment mainly in time and a little effort.

Come to the Czech Republic - Prague, spend at least 2 days visiting Prague and it's beautiful cultural and historical attractions, and then rent a car and drive for a few days around the country or to your targeted area.
Hey... in the worst case you'll have a great short vacation and save risking money if you decide that investing in the C.R. is not for you.
In the best scenario you'll have a great vacation and end up buying some property.

If Prague is not your choice, how about Brno and Moravia ?
ryanair fly to Brno all year round (from Stansted uk and other EU destinations)

Obviously this depends on where you 'think' you might be interested in buying real estate.

We will be inserting in due course reports on Czech towns, and what they offer to the investor or the private real estate buyer, both for holiday aimed buying and living /retirement settlement option as for big investing. (for example Kromeriz - Moravia)

But you would still want to see first hand.
A very good place to start 'virtually' would be the following web site:
http://mesta.obce.cz/ (mesta / obce = towns and villages)
and this site has vast demographic information on Czech towns, regions, villages, population etc.

Step 4 ]

Start searching seriously for what you are intending to buy in your area of choice.

And you do this by looking through Real estate on offer by the various Czech real estate agencies listed on this website.

This should serve as an initial idea of what property and real estate is for sale in each region... and at what price.

Use our real estate dictionary to help you understand the few technical Czech terms for sites that are not in english.

 

Step 5 ]

Make contact.

Contact some Real Estate Agencies by e-mail or phone and advise them on what you are looking for, where you want it to be located and what you price range is.

The real estate agencies in turn will start mailing you viable options with direct links to their online real estate catalogues and also additional information on the property of interest.

 

Let's now presume that:

a) You have basic information on Czech real estate

b) You know what type of real estate, property you wish to acquire

c) You have visited the Czech Republic - or at least documented yourself in a general manner on which location or area of the Czech Republic you are aiming for

d) You have gathered samples of real estate for sale, how much they may cost, their location etc.
Having done this you also have direct contact to some real estate agencies.

The next obvious step might be to go and see the properties of your choice and start the direct buying procedure.

This is correct but .. hang on a minute!

Do you speak Czech ?

Have you got a legal representative on your side who will cover your interests and help you through the burocratic part ?

Do you know how to get a residence permit ?

Or how to open a s.r.o company in the Czech Republic ?

How do you go about vetting the Real Estate agency for
trustworthiness ?

How do you safeguard any deposit you may be asked for ?

...and about another few hundred ifs, and '?'.

As you can see, the first part was easy, but handing over money, signing contracts in a foreign language and getting fool-proof guarantees is not.

In the next section you will find plausible options which may be of help and even if you feel confident enough to go ahead and approach the above mentioned hows and ifs on your own, we suggest you read it.

Assistance in buying Czech Real Estate

Becoming informed costs next to nothing
Being missinformed can be expensive

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