Property prices in the Czech Republic

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In the Czech Republic, there are virtually two very different real estate markets with prices in the capital markedly higher than everywhere else. It is hardly surprising though, as Prague is the country’s cultural, tourist and financial centre with unparalleled prices, save the world-famous resort Karlovy Vary where one-bedroom apartments go from €150,000 to €300,000. A similar flat in the other equally renowned spa towns Mariánské Lázně and Františkovy Lázně start from €70,000.

Property prices in the Czech Republic plummeted in 2009 when the financial crisis hit Europe, yet, apartments in Prague are cheap even today (cost of Prague flat prices is on average €2,500/sq.m) compared to those in other European capitals. The central area, Prague 1, is the most expensive and valued at €5,400/sq.m. Buyers looking for better deals can find the cheapest Prague property prices in district 9, 10 and 4. The Czech Republic is the land of castles, with good reason, as there are about 2,500 stone fortresses here with prices comparable to ordinary flats in other European capitals.

Since 1 May 2009, any foreigner can buy property in the Czech Republic if they are registered as an individual or legal entity.

	Prague	Karlovy Vary	Other cities
Apartments (flats)	1,485–2,222	700–1,400	650–1,150
Detached property (houses, villas)	1,250–1,600	1,250–1,600	450–800
Luxury property (castles, mansions, estates)	3,000–4,500	3,000–4,500	3,000–4,500