Residential real estate in Prague is considered a profitable investment, since since 2016 there has been a steady upward trend in price. The increase in value took place in almost all areas of Prague, although it was uneven. Thus, properties in Prague 1, with its shortage of new buildings and a limited number of offers, increased in price the most.
As for the average price in the city, in 2019 for the first time it broke the barrier of 3,500 euros per square meter (for comparison, at the end of 2017 this figure was 2,600 euros). Of the ten main districts, only Prague 4, Prague 9 and Prague 10 did not reach this mark, where construction was carried out at a faster pace and on a larger scale.
Prague continues to be one of the most promising large cities in Eastern Europe in terms of real estate investment, with housing being increasingly purchased for the purpose of renting it out.
Another preferred destination for foreign real estate investors in the Czech Republic is the most famous local resort, Karlovy Vary. Convenient geographical location – including the presence of an international airport, picturesque nature, excellent ecology and more than ten healing mineral springs – attract potential investors from abroad. In terms of the share of foreigners permanently residing here in relation to the total population (approximately 7%), this city ranks second in the Czech Republic after Prague. After the Czechs themselves, the main ethnic group is the Vietnamese, followed by the Germans, Russians and Ukrainians.
However, housing prices in Karlovy Vary, if you do not take into account luxury real estate, seem to be much more affordable than in the capital. Offers for the sale of apartments in good condition with kitchen furniture at a price of 800-1300 euros per square meter are quite common, and we are not just talking about modest studios in multi-storey buildings on the outskirts of this small city. In the case of premium class properties or those close to this category, the cost of one square meter can reach 2,500 euros.
Another famous Czech resort, Marianske Lazne, is not so far from Karlovy Vary – in fact, they are separated by the Slavkov Forest nature reserve. And although the permanent population does not exceed 13 thousand people, the flow of tourists flowing here does not dry out throughout the whole year. This city also has good transport accessibility, which is reflected in the presence of bus and train stations from where you can travel to other cities in the Czech Republic. In the middle of the last century, there was an airport here, which was closed after an attempted hijacking, but now it serves as one of the excursion attractions.
Real estate prices in Marianske Lazne are quite comparable to those in Karlovy Vary – that is, in the region of 1000-1200 euros per 1 sq.m. Until recently, “massive” development, on the scale of this city, continued here, and there is a fairly high probability that it will resume in the foreseeable future.
The above prices are by no means the lowest in the country, as evidenced by Teplice, located less than a hundred kilometers from Prague. It was traditionally believed that Teplice, despite the significant number of healing springs, belongs to the “industrial” cities, although in fact the so-called “medical tourism” is also developed here. Typically, the season in Teplice began in the second half of April and lasted until mid-October, so the rental yield was quite high – about 7-8% per year.
In Teplice, with a population of about 50 thousand inhabitants, the cost of 1 sq.m. rarely exceeds 1,200 euros, but you can find not only budget options, but also exclusive offers: villas, cottages and detached houses, equipped with the latest technology.
In addition to all the previously mentioned cities, for Russians, Ukrainians, Belarusians and everyone who is thinking about the question of where to buy real estate in the Czech Republic, we can recommend Most, Pardubice, Pilsen, Ústí nad Labenj and Ceske Budejovice, but for a more accurate choice we recommend contacting consultation with our specialists.