Real Estate in the
Czech Republic

Get free consultation!

Can Foreigners Buy Real Estate in the Czech Republic?

Foreigners are allowed to buy real estate in the Czech Republic. Buying a home in this country does not give you a right to permanent residence, but it does make it easier to get a multiple-entry visa. However, real estate in the Czech Republic may be considered an advantage when considering an immigration application.

To get a permanent residence in the Czech Republic, you must also have a business in the country.

A foreigner can buy an apartment or house in the Czech Republic, even if they have temporary protection status.

An important rule for buying real estate in this country is that the owner of the property can be either one person or several co-owners who are related. Foreigners who are not related to each other cannot buy real estate in the Czech Republic as co-owners.

If the property is cooperatively owned, the buyer should take this into account, as cooperatives often block foreigners from joining them. In this case, you will have to register the real estate purchase transaction on a legal entity.

A foreigner does not need to be physically present in the country to complete a real estate purchase transaction. In the republic, you can arrange the paperwork for an apartment remotely, through a real estate agency or a general power of attorney. However, buying a home for foreigners is a fairly complex legal and administrative procedure. The article describes how to purchase real estate in the Czech Republic for permanent residence, what documents you will need to obtain, what the cost of housing is, and what taxes you will need to pay.

What are the benefits of buying real estate in the Czech Republic?

Buying real estate in the Czech Republic gives you the right to short-term residence. It is an effective and stable investment method depending on the goal you want to achieve. You can rent out old houses (to individuals for their living both for a short and for a longer period), buy cafes, restaurants, public and street catering establishments that will be in demand by the population, the possibility of buying hotels or hotel complexes, commercial premises, shops – all this will bring profit in the future due to the stable banking system of the EU. Also, if you want to buy real estate for yourself, you will not be dependent on the landlord and will not spend money on rent.

Where is the best place to buy Czech real estate?

In the Czech Republic, the cost of real estate is largely determined by its location, the quality of infrastructure development, and proximity to major road junctions. The most expensive housing is offered in Prague, Rychnov nad Kněžnou, and Brandýs nad Labem, due to the quality of medical care, low crime rates, high income of residents, and minimal unemployment. Cheaper real estate is located in cities such as Orlová, Karviná, Litvínov, and Most.

Conclusion

The Czech real estate market is a good investment opportunity for both foreigners and Czech citizens. The country has a strong economy, a growing population, and a well-developed infrastructure. Real estate prices in the Czech Republic are still relatively low compared to other European countries, and there is high demand for both residential and commercial real estate.

If you are considering buying real estate in the Czech Republic, it is important to do your research and consult with an experienced real estate agent.