Housing in the Czech Republic: your investment in the future

Category Date Nov. 21, 2019
Housing in the Czech Republic: your investment in the future

The Czech Republic is the most successful of the young countries of the European Union. A steadily growing economy, a mild climate, a developed service sector... However, these are all advertising slogans. Let's look at the numbers. In 2018, the minimum wage in the Czech Republic was 12,200 korunas (475 euros), and the average – 30,265 korunas (1,180 euros). At the same time, the country did not enter the eurozone. This means that the local price level allows a comfortable life. The Czech Republic has a very low unemployment rate (about 3%), many foreign companies transfer their offices and production here. Low taxes compared to neighboring Germany stimulate business. Therefore, in recent years, finding a well-paid job in the Czech Republic is not a big problem.

Almost all major retail chains are represented in the Czech Republic. And adjusting for the local exchange rate makes purchases pleasantly inexpensive.

For citizens of Eastern European countries, the Czech Republic is a welcome oasis in Europe. Not least because there are practically no refugees and migrants here. A huge advantage is the local language, which is not too difficult for the Slavs to learn. But at first it will not be difficult for a newcomer: young people know English, and the older generation of Czechs speaks excellent Russian, because it had been previously studied at school. And Karlovy Vary even creates the illusion of a homeland: almost all employees in the service sector speak Russian at a good level.

The Czech level of medicine is also beyond praise: in most cases, health care costs are covered by insurance. Quality education begins with pre-schools and ends with the oldest universities in Europe. It offers residents a huge selection of schools, including private and international. For example, in Karlovy Vary, your child can study in a real British school.

A high standard of living is not only infrastructure and an understandable language, but also a clean environment. There are simply no "dirty" industries in the country. Ecology is strictly controlled by the Czech government. As a result, water can be drunk from the tap, the air is safe, trout frolic in the rivers right in the city centers, and on the outskirts of even large cities you can see a hare or roe deer.

Have you chosen the Czech Republic for life and for the future of your family? It's a great choice! Now it's up to the small: decide on housing.

The most important thing is the cost. Yes, you, even without being a resident, can qualify for a mortgage (by the way, it is relatively inexpensive). But let's deal with the order of prices.

A small information bonus from our agency: you can submit an approximate amount of the transaction in advance, without resorting to specialists yet. How? In the Czech Republic, apartment sale and purchase agreements are uploaded to the public registry called “Katastr nemovitostí” (Real Estate Cadaster). There are also transaction amounts. If you take for a sample a two-room apartment of 65 square meters in a brick house, we get a funny picture. In 2018, the price for such an apartment in the Czech Republic ranged from 30 thousand € on average per apartment in Ustetskiy Krai to 200 thousand € on average per apartment in Prague.

Karlovy Vary stand apart. Here you will find both luxury apartments and relatively inexpensive housing. And if we wrote above about the advantages of the Czech Republic, here they can be multiplied by two: a resort, infrastructure, German investments...

By the way, about this same Cadaster. On the one hand, the preparation of competent documentation for it is a complicated matter, on the other hand, transactions in the Czech Republic fixed in the Cadaster cannot be disputed by a court. That is, with the advent of the recording, you can be sure that you will not be deceived. Also, the Cadaster contains all the data on possible problems: the apartment is the subject of litigation, mortgaged and so on. Our agency checks such records before inviting the first buyer. We always care about customer protection.

Therefore, do not be surprised that in the Czech Republic almost all transactions are carried out by real estate agencies. Making a deal for an apartment is troublesome, and for a buyer of a foreigner, it is also complicated by a lack of understanding of local legislation. Mistakenly conducted transactions are a loss of time and money, and this, you see, no one wants.

Therefore, choosing the Czech Republic, choose also reliable partners who will make your investment in the future even more profitable!