Can foreigners get a mortgage in the Czech Republic?

Foreigners can get mortgage loans for buying both commissioned real estate and property under construction, and can also refinance existing mortgages in the country. Unfortunately, the lending terms for non-EU citizens have become tougher. We recommend that non-residents only rely on their own funds.

How expensive are utilities in the Czech Republic?

On average, apartment maintenance in the Czech Republic costs €100-200 per month, depending on the number of people living in the residence, property type, and size.

Can foreigners obtain a Czech residence permit by buying real estate?

Buying property in the Czech Republic is not enough to be granted a residence permit , but owning or renting accommodation is one of several requirements that must be met before residency is considered.

Can non-EU citizens get Czech citizenship through buying real estate?

It is possible to apply for Czech citizenship five years after being granted residency. Buying property in the Czech Republic on its own is not enough to be granted citizenship, but owning or renting accommodation is one of several requirements that must be met before it is considered.

What is the procedure for buying property in the Czech Republic?

After choosing a property, investors need to open an account with a Czech bank, sign a reservation agreement, and carry out a property due diligence. The parties then sign a sales agreement and the documents are forwarded to the Land Registry. Thirty days later, the new property owner should receive the title deed.

Can foreigners lease residential real estate in the Czech Republic? How much can they expect to earn?

Yes, they can. Apartments in central Prague generally yield 4-5%. Real estate outside the capital’s centre and in more provincial towns can generate higher yields. Tranio offers Czech residential real estate investments with a net income of 5% per annum (after utility payments and personal tax).

Are there property taxes in the Czech Republic? How much is real estate transfer tax?

Transfer tax in the Czech Republic is 4%. VAT when buying a new build is 21%. Property registration fees equate to between 0.01-0.02% of the property value. Annual property tax in the Czech Republic ranges from €25-50 per annum.

Can foreigners buy property in the Czech Republic?

There are no property restrictions for non-residents, giving potential investors – both individuals and companies – a wealth of options when it comes to buying real estate: residential and commercial property , land and forests.

Is buying real estate in the Czech Republic worth it?

Residential real estate investments are generally profitable because of favourable economic indicators, stable rental demand, low prices per square metre in comparison to other countries, and the possibility of selling residential property at a profit. The average annual investment yield is 5%.

What are residential property prices like in the Czech Republic?

Apartments in Prague cost €1,500-3,700/m². In other regions of the country prices range from €850-2,000/m², and for detached houses €450-800/m².

Can property buyers receive education for free in the Czech Republic?

Purchasing a property does not guarantee free education . To enter university, immigrants need to verify their school leaving certificates and pass a Czech language test.