Real estate in Prague: a profitable investment for foreigners
The capital of the Czech Republic is known for its exquisite ancient architecture, high level of health service and low taxes. Buying real estate in Prague means to make a profitable investment for many years ahead. The apartments purchased here can be used as your permanent housing or profitable renting out to the local population. The average rental price of a one-bedroom flat in Prague reaches 400-1000 euros per month. The final price depends on the condition and location of the residential property.
Why foreigners worth buying property in Prague?
Acquisition of residential and commercial properties in the Czech capital has a range of benefits for foreign citizens:
- You can always resell purchased apartment at a bargain price. Housing prices in Prague are growing by an average of 10-20% annually.
- Real estate purchase tax is only 4%. It is much cheaper than in other EU countries.
- Acquisition of real estate in Prague increases your chances to obtain a residence permit with a subsequent right to permanent residency. Such privileges shall not be provided immediately, but the Czech authorities are actively responding to the foreign investors’ wishes.
What is the preferable type of property to buy in the Czech capital?
Prague offers customers a wide variety of options. Those who prefer to be at the epicenter of urban life will like the luxury two-bedroom and three-bedroom apartments in the central part. In same place there are also many cozy offices and restaurants for businessmen. Foreigners, who value stillness and tranquility in the nature, should pay attention to comfortable cottages and mansions in the suburbs.