The price of real estate in the Czech Republic is still only a fraction (about 20% on average) of what they cost in nearby Western countries like Austria and Germany, with the exception of real estate in Prague.
With proper research and the assistance of a trustworthy local company, the Czech Republic now offers you a unique opportunity to maximize both the value and return of your investment capital like nowhere else in the world at this time, and for the foreseeable decade.
Due to the internal changes making way for the arrival of the Euro common currency, property prices are steadily rising in the Czech Republic and will continue to do so over the next 6 years, to more closely match those of neighboring European countries. The rise is happening at a rapid pace that is gaining momentum on a monthly, not yearly, basis.
However, an investor can still buy businesses, land and property for a fraction of what this would cost today in Western Europe, earn a substantial ROI minus expenses on rapid turnover, or buy and hold for potentially greater future returns.
Property Acquisition by ForeignersA foreign citizen can buy property in the Czech Republic, but the laws vary according to whether or not you are a citizen of the European Union (EU) or not.
To purchase property in the Czech Republic as a non-EU citizen for either business or residential use, you must have a Czech limited liability corporation (called an SRO) setup in your name.
The good news is that an SRO is an essential tool for all foreigners living in the Czech Republic, EU citizens and non-EU citizens alike, because it provides an essential tax and liability shelter to assist you with legal compliance issues and to protect your assets - both here and at home - from litigation and fraud.
Each of the 'Non-EU Favored Countries' (Norway, Switzerland, Liechtenstein, USA) have 'favored nation' agreements with the Czech Republic which give them rights regarding property purchase that are similar to those granted to EU citizens. In the agreement between the USA and Czech Republic, any US citizen who acquires a residency permit for longer than 3 months can buy property as an individual.
EU citizens may purchase land, except for agricultural or forest land, after acquiring the proper residence permit. However, both EU citizens and non-EU citizens with an SRO are exempt from any restrictions on land purchased at this time, and do not require a residence permit to purchase land.