Foreigners are constantly eyeing real estate in the Czech Republic
Foreign investors are also attracted by the high quality of life in this country, a comfortable tax regime, economic growth, and low unemployment. And also – free education: about 15% of students in the Czech Republic are foreigners, because local diplomas are recognized worldwide. And Czech residence permits and especially citizenship allow you to move freely within the European Union and easily obtain American visas.
Prague is not the only good place to buy housing in this country. No less popular are Karlovy Vary, Olomouc, Ostrava, Brno, Pilsen. You can also buy a house in the Czech Republic in the southern regions of the country – traditional vacation spots not only for Czechs but also for Germans and Austrians. This region began to develop rapidly in the last decade due to active tourist life. The influx of guests to local hotels located in picturesque forests, on the shores of lakes and rivers, on mountain slopes, has increased many times over.
Moreover, the South Bohemian Region is also rich in historical attractions: there are many ancient castles – Krumlov, Zvíkov, Orlík, Červená Lhota and others, as well as an open-air architectural and historical museum, a UNESCO World Heritage site – the village of Holašovice. Therefore, in recent years, social and household infrastructure has been actively developing in South Bohemia, and new residential real estate is appearing – apartment complexes, cottage communities.
But those wishing to buy Czech real estate need to know a few details. For example, they will have to pay a 4 percent tax. And if an apartment or other housing is purchased for subsequent rental, then you will have to pay income tax on this income. This will need to be done annually.
In order to buy real estate here, you do not need significant start-up capital: any foreigner has the right to participate in local mortgage programs. Today, the average annual interest rate is 2.6-3% for a person with a residence permit (as for Czech citizens) or 3-4% if he has not yet received or does not intend to obtain any official status.