Now it is a member of the EU (since May 2004), it is now easier than for foreign investors to buy holiday homes in the Czech Republic. As one of the most developed countries in Eastern Europe with a growing economy, it is also more attractive than ever to invest in Czech property. Prague is becoming popular with European companies looking to outsource their operations, another positive indicator for the real estate market in the Czech Republic.
Property prices throughout the Czech Republic are expected to rise consistently over the next few years as they are still well behind much of Europe, even in Prague where the market is most mature. In 2005, the average price for a 2 bedroom property in Prague is 225,000 Euros. If you go out to the countryside, you can find a small cottage with a 2,000 square metre garden for 5,000 Euros.
In terms of climate, the average summer temperatures are in the mid 20s (Celcius) and the winters are cold and, in the mountains, very snowy. The Czech Republic lost its medieval gardens but examples of renaissance and later gardens survive. See Gardens to visit in the Czech Republic.
The Czech language is not the easiest of languages to pick up and the pronunciation in particular is a challenge to all but the most gifted of polyglots. It is worth noting that some knowledge of Czech will be necessary to get by in rural areas.
There are still some restrictions on foreign buyers in the Czech Republic. Foreigners cannot generally purchase property as individuals and it is necessary to set up a Czech company. However, EU citizens can buy as indiviuals if they have a residence permit and so can citizens of the USA, Switzerland and Norway subject to compliance with certain requirements. We do urge you to do your research and not try to cut corners - fraud against foreign investors is a problem.
Prague is often hailed as one of the world's most beautiful cities. Travel to Prague is cheap and easy due to low-cost flights and good rail connections.
The Czech Republic's second largest city, Brno, is receiving increasing attention from property investors as prices in Prague continue to rise. Although it is a cosmopolitan city full of culture, Brno is not visited by many tourists so it still has a real Czech feel.
Historic Prague, Czech Republic
Real Estate in Prague