Prior to and since the Czech Republics accession into the EU in 2004, property in Prague has appealed strongly to investors for a number of reasons. To look first at some underlying reasons we can firstly say that not only Prague’s position as the Czech Republics capital but also it’s position as a stunningly beautiful city with so much to offer has led to it attracting not only tourists but also much high value business investment from both local and international companies.
Should an MD of an international company be told to relocate their European Headquarters (and themselves!) to a ‘lower cost and more cost effective’ Central or Eastern European location it is highly likely that Prague would feature near the top of the list of ‘preferred’ candidate cities!
Property in Prague is in such demand from investors not only due to the city being so attractive a place to live and work but also due to many other factors involving the investment climate. Incomes in Prague are 20 – 25% higher than in the rest of the country, there is no capital gains tax payable in the Czech Republic if a house or apartment is held for more than 5 years, for off-plan purchases it is possible to have deposits from as low as