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Your guide to buying property in the Czech Republic

Martina Rados
Marketing Manager at RE/MAX Europe

Are you ready to make the first step towards buying property in the Czech Republic? We’re here to answer your questions and help you plan your move!

Buying property could be the start of a whole new chapter of your life. Maybe it’s a scenic spot to pursue your dream career, a charming and safe environment to bring up children or the investment of a lifetime. Whatever your hopes, you could be enjoying everything the country has to offer in just a few months! Here’s all you need to know to navigate the hurdles of the property market with ease.

What makes the Czech Republic stand out from the crowd?

At the crossroads of many different cultures, the country is packed with eclectic architecture and well-preserved historical landmarks, from fairytale castles perched on rolling hills, to medieval astronomical clocks. Take a walk down the cobblestone streets and you’ll see architecture from throughout the centuries standing side by side. You might just grab your own piece of history – many historical buildings have been recently renovated, so you can experience the authentic charm without losing out on the modern facilities!

As you head into the countryside, you’ll find a host of UNESCO World Heritage sites and beautiful towns nestled in the lush scenery. Due to its central position in Europe, the Czech Republic is a travel hub from which you can easily access many nearby countries and also have the option to take flights from one of its major airports to anywhere you can imagine!

After joining the European Union on May 1, 2004, it became much easier for foreigners to buy property in the Czech Republic. Those with a residence permit or people who have been granted asylum can purchase residential and commercial property in every region in relatively few steps. With a stable economy, low crime levels and a vibrant community, the country might just win your heart!

Where should you buy property?

Choosing the location of your new home is one of the most important steps – and one which you should not rush! Your RE/MAX agent can suggest the most suitable areas, but to gain true insight into your new neighborhood, it’s best to visit in person to meet the friendly locals, get a sense of amenities and work out what your transport options will be.

One of the main cities people choose to move to – and for good reason – is the capital and largest city of Prague. It’s a cultural and economic hub where you can always find a bar on a bustling street to grab some of the country’s world-famous beer. It is also a great place to find a job as a foreigner thanks to the booming economy and large international community. Though the property prices are relatively low, they can be higher in Prague than in the rest of the country, so many people consider living in a nearby city, such as Kolín or Neratovice.

Another option for well-rounded city life is the second largest city in the Czech Republic, Brno. Brno is especially popular with students and career-chasers thanks to its many universities and big IT businesses, while the stunning scenery and peaceful parks mean you always have an escape from the hustle and bustle.

If you imagine yourself building your nest in the quiet countryside, there are a wide array of idyllic smaller cities and towns, for example Český Krumlov, with its historic city centre and winding river, or Beroun, surrounded by protected natural areas and impressive castles. Wherever you’re looking to buy, your RE/MAX agent will be there to tell you all the facts before you make your purchase with confidence!

Key steps and important documents

Hurray! – you’ve found the perfect property and you’re already looking forward to move-in day. But what needs to happen before the keys are in your hand? As the buyer, it’s important to perform due diligence procedures before you take any further steps, otherwise the purchase will be invalid. To find out more about the property, you can check the Real Estate Cadastre to verify the seller of the property is the listed owner, the building is not subject to foreclosure or pledges and there are no other legal problems standing in the way. While this information is available online, your RE/MAX agent will handle all of the details so you don’t have to wade through mountains of data!

You will likely want to open an account in a Czech bank, which is a fast and easy process, especially for EU citizens who only need to show a temporary residence and a Czech rodné číslo identification number. The next step is to sign. First is a Reservation Agreement, ensuring that the property cannot be sold to another buyer, for which you’ll need to pay a reservation fee of a certain percentage of the real estate value. You will then sign a contract of deposit, after which money can be transferred to a separate deposit account and both parties will sign the main purchase agreement. It won’t take long before the change is registered and the property is yours!

Get ready for life in Czech Republic!

Moving to the Czech Republic does not have to be a daunting task. By researching the real estate market and getting advice from an experienced RE/MAX agent, the rest of the process will fall into place. Once all the documents are in order and move-in day is on the horizon, it’s time to grab your hiking boots, prepare your palette for some serious beer-tasting and get ready for your new start!

Please Note: While RE/MAX Europe has compiled the information on this page diligently and to the best of its knowledge, RE/MAX Europe does not assume any liability for the accuracy of the information or for any damages resulting from the use of the information.

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