View of one of the districts of Prague
The Czech Republic offers a wide selection of real estate both for living and for commercial activities. And if you are looking for where to buy an apartment in the Czech Republic cheaply, it is best to use the services of specialized agencies offering real estate in this country.
The only document required when purchasing residential real estate is a foreign passport. No other certificates need to be issued. Realtors will offer a large catalog of apartments, houses and cottages in any city of the country. Choosing a property may take only a couple of days – it all depends on the buyer's preferences and planned financial costs.
You can come to the Czech Republic to buy real estate for a few days. During this time, you will have time to choose an apartment or house, issue a power of attorney and contracts with the company that carries out purchase and sale transactions. It takes a little over a month to process all documents, and within 40 days the property will be registered in the cadastre. Real estate companies can speed up this period if you pay extra for it.
You will have to pay a tax for the purchased property (the amount depends on the value of the property and its area). Utility payments depend on the type and area of the property. On average, it is 80-130 dollars for a two-room apartment. If the house is lived in only a few months a year, the payment will be almost half as much.
To buy real estate, pay taxes and utilities, it is not necessary to open an account in a Czech bank. Transfers can be made from any country and any bank. If the purchase of a house and payment of all obligations are entrusted to a company located in the Czech Republic, it is more convenient to transfer money from a Czech bank account. Such an account can be topped up in various ways (cash, bank card, transfer).
All modern houses in the Czech Republic are fully equipped with household appliances, with designer interiors and new renovations. As a rule, there is a landscaped area around the house: flower beds, lawns with grass, paths paved with tiles.
To avoid problems with travel and living in the purchased house, you need to get a Schengen visa for 90 days at the Czech consulate. It is issued in a few days. The purchase of a house, according to Czech law, gives a foreign citizen the right to live in the Czech Republic for 6 months a year. If the total period of residence is 5 years, you can apply for a permanent residence permit. After another five years, you can apply for citizenship.
As for commercial real estate, it can only be purchased by a legal entity registered in the Czech Republic. You can open your representative office and the property will be registered to this legal entity. A foreign company cannot directly buy commercial real estate.
The Czech Republic is a country with a stable economy, where there is no serious unemployment. Even a foreigner can quickly find a job there. The climate is mild with not too hot summers and not very frosty winters. The Czech Republic has beautiful architecture and many resort areas. A car trip to the capitals of Austria and Germany will take no more than three hours, to Rome and Stockholm just 5 hours, and to the capital of France you will have to drive a little longer – 8 hours.