Advice on buying Czech Republic Property

by John Everitt

Geographically, the Czech Republic is located near the centre of Europe, and the country has been a member of the EU since 2004. This has helped to reassure some foreign property hunters, and a strengthening domestic economy is driving the demand for properties. The Czech Republic has a thriving tourist industry, though it is generally busier between May and September.

Average property prices: 1 bedroom apartment £65,751; 2 bedroom apartment £104,996 3 bedroom house £113,033 Since the Czech Republic's entrance into the EU in May 2004, purchasing Czech Real Estate has become more straightforward. Presuming that a house buyer will not be dependent on having to live in the center of Prague or other main Czech town centres, then the best locations in respect to low prices and good real estate deals are about 40 to 60 km from any main town. Even better deals can be found in the many small villages that constitute the mainstream make-up of the Czech Republic if one is considering buying a retirement home.

Young Czechs are abandoning the smaller villages opting for better job opportunities in the big towns so there are many a great real estate deals to be found in smaller Czech villages as opposed to town centres. When selling a property usually the proceeds will be subject to a transfer tax of 3 percent. These guidelines are meant for guidance only and describe a straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take.

About the Author
John Everitt is a consultant to Globespan European property portal. Please visit our estate agents directory and this Czech Republic buyer's guide