10.58 million inhabitants.
Czech Real Estate Market
The Czech Republic's housing market is expected to remain tight in the coming years. House prices are projected to continue rising strongly, as demand continues to outstrip supply. The average price of apartments in the Czech Republic surged by 8.75% (6.21% inflation-adjusted) during the year to Q3 2018, after y-o-y rises of 8.06% in Q2 2018, 7.57% in Q1 2018, 8.42% in Q4 2017 and 12.53% in Q3 2017, according to the European Central Bank (ECB).
Demand has been driven mainly by migration within the country and strong demand for prime properties by foreigners; demand for investment properties is also believed to play a significant role," according to a 2018 report released by the International Monetary Fund (IMF).
Residential construction activity is increasing rapidly, but is still below peak levels.
International Investment in Czechia
A foreigner can legally buy and operate real estate in Czechia. It is a EU member state, where an investor can diversify his portfolio and enjoy a favourable economic trend.
The Czech real estate market is favourable for transactions and investments for several reasons:
- A transparent and open system.
- The law is in favour of the owners and protects them.
- A foreigner can become owner in the Czechia.
- Taxation is favourable.
Our team of experts in the Czechia are always ready to help you facilitate the process from your home country (visa, opening of bank account and buying your own property, etc.)
The European Union signed with many countries an agreement, allowing to avoid the double taxation on the rental income but also on the inheritances and the donations.