The Czech Republic is a land of composers like Dvorak and writers like Kafka. Its rich cultural heritage is aptly depicted by the capital city of Prague, which has some excellent museums, galleries, and concert locations that are always buzzing with performances from the local and international artists.

The UNESCO World Heritage Sites like Cesky Krumlov, Litomysl Castle and the Pilgrimage Church of St. John of Nepomuk at Zelena Hora top the visitors’ wish list in the Czech Republic. The great western spa towns of Karlovy Vary and Marianske Lazne, along with the early settlements, like Kutna Hora, and castles, like Karlstejn, are some of the other famous spots in the country.

Undoubtedly, with limited tourism potential, the capital city becomes the hub of all major real estate investments in the country. Prague can be safely considered as the centre of the country’s business and tourism activities. As a result, big MNCs are flocking the city with extra cash
in their coffers to maximize their profitability by heavily investing in a vibrant city.

Prague is also lucrative in terms of low cost of living. Though the capital city is the costliest to live in the Czech Republic, but if you compare the costs with other major European capital, it’s just a fraction. Resultantly, the rental income is always a prime factor and consequently, there’s a heavy demand for the buy-to-let properties from the investors. Swanky 2-bedroom buy-to-let apartments can be bought for as low as £119K. However, basic buy-to-let apartments come at an extremely cheaper rate of £20K onwards.

The government is working towards reducing the tax liability of property owners and simplifying the rigorous procedures and laws governing property transaction in the country. This has led to a large-scale investors’ interest in other parts of the country as well, like Brno. Some excellent buy-to-let apartments in Brno are priced competitively at £35K onwards.

Exploring the off-plan properties in Czech Republic is also worth the effort particularly due to the fact that the property prices are on an upswing, and it makes sense to buy it off-plan to save extra pounds and make a decent killing from future dealings.

Since the cities are developing at a fast pace, an astute investor will do well to explore the commercial property segment as well in order to reap rich dividends in terms of rental and/or resell profits. The spending capacity of consumers is on an upswing and the obvious impact is being felt in the commercial real estate. If finance is your problem, there are several mortgage options available in the country at low interest rates.

Most foreign investment in the country is via SRO (a Czech limited liability company). The setting up of SRO is not a tedious process, and if a good local lawyer assists you ably, the company can be formed within a week’s time. The company formation not only eases the property ownership process, but also saves extra pounds from taxation and other benefits.