Czech Property Market - Buyers Guide

Our property services in the Czech Republic

From our head office in Prague we deliver a full range of property services, from rentals and property management to resales.

Our property services cover the main cities in the Czech Republic such as Prague, Brno and Ostrava.

Contact us to find out more about our Czech property services.

CZECH PROEPRTY - BUYING PROCESS

Buying Czech property on the primary market (offplan)

Choose your apartment
Engage lawyer (who will arrange the contracts and perform checks)
Pay legal fees
Sign reservation contract and pay reservation monies (sometimes this step is missed out goes straight to step 5)
Sign Future Purchase contract and pay deposit monies (minus reservation monies)
Around 4-6months before completion arrange a mortgage (if required)
Sign Purchase contract (with lawyers help) and pay remaining monies (perhaps with mortgage help)

Buying Czech property on the secondary market (resale)

The process is broadly similar to the above, except that there is usually only a reservation contract and no future purchase contract.
Also, if you require a mortgage you may need to perform the process more quickly (eg within 2 months).
When buying on the secondary (resale) market in the Czech Republic it is important to make sure the purchase contract forces the seller to pay the 3% sales tax on the property otherwise you as the buyer could become liable for it.

CZECH PROPERTY - BUYING COSTS

The Czech Republic has very low buying costs (making buying and selling property quite an efficient transaction).

Some costs to consider are:

Legal fees - typically 30-40,000 CZK (1,000 GBP)
There are no purchase taxes on property in the Czech Republic
An EU Card (or company setup) costs around 20 - 40,000 CZK