Real Estate in Prague
Last updated on Jun 05, 2023
Summary: The average cost of a nice 2 bedroom home in Prague, Czech Rep is around $400,000 USD. A nice 3 bedroom home in Prague is around $500,000 USD. These properties typically include modern amenities such as central heating, air conditioning, and modern appliances. Foreigners are allowed to purchase property in Prague, however, they must obtain a permit from the Ministry of Interior. When searching for a home to buy in Prague, an expat should consider their budget, desired location, and amenities. It is also important to research the local real estate market and consult with a real estate agent. The most desirable neighborhoods in Prague include Vinohrady, Mala Strana, and Hradcany. These areas are known for their beautiful architecture, vibrant culture, and convenient access to public transportation.
How do I find a place to live in Prague?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Prague is to use online resources such as websites like Expats.cz, which specializes in helping expats find housing in the Czech Republic. Additionally, there are many real estate agents in Prague who can help you find a place to live. You can also search for rental listings on websites such as Airbnb, HomeAway, and Craigslist. Additionally, you can look for housing in newspapers and magazines, or ask around in your local community for recommendations," said one expat who made the move to Prague.
"Before diving in, take a moment to consider your priorities. Location: Do you like the buzz of the city center, or prefer a quieter neighborhood? Proximity to work, schools, or public transport might be crucial factors. Size and Style: A cozy studio, a spacious family apartment, or a historical flat with character? Define your ideal living space. Budget: Research average rental prices in your preferred areas to set realistic expectations. Factor in utilities and potential agency fees," wrote Irena Economou from Urban Address Prague.
Irena Economou is the founder of Urban Address Prague, a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic.
Click connect to have our partner, Irena, contact you via e-mail and/or phone.
Irena Economou is the founder of Urban Address Prague, a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic.
Click connect to have our partner, Irena, contact you via e-mail and/or phone.
Connect
Urban Address Prague is a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic. We don't just find you the perfect apartment, we build your Prague dream. And what's more - we can arrange everything remotely, stress-free. We are your partner to help you make Prague your new home.
Click connect to have our partner contact you via e-mail and/or phone.
Urban Address Prague is a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic. We don't just find you the perfect apartment, we build your Prague dream. And what's more - we can arrange everything remotely, stress-free. We are your partner to help you make Prague your new home.
Connect
Click connect to have our partner contact you via e-mail and/or phone.
What is a typical expat home or apartment like in Prague?
"Many expats like centrally located apartments in neighbourhoods like Prague 1 & 2. These historic areas offer easy access to sights, restaurants, and a lively atmosphere. Expect apartments to be smaller, usually up to 100 m2 / 2 bedrooms, but there are some larger apartments too. Period features like high ceilings, ornate mouldings, and hardwood floors add a touch of Prague's magic. Families with children often seek larger apartments or houses in quieter districts like Prague 4, 5, or 6. These areas offer more green space, parks, and backyards. Proximity to international schools is a big factor for families choosing a neighbourhood. Most international schools are in Prague 4 & 6. For those seeking a contemporary lifestyle, newer apartment buildings offer modern amenities like gyms, rooftop terraces, and underground parking. These are often located on the city's outskirts but usually have good public transportation connections," wrote Irena Economou from Urban Address Prague.
Irena Economou is the founder of Urban Address Prague, a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic.
Click connect to have our partner, Irena, contact you via e-mail and/or phone.
Irena Economou is the founder of Urban Address Prague, a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic.
Click connect to have our partner, Irena, contact you via e-mail and/or phone.
Urban Address Prague is a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic. We don't just find you the perfect apartment, we build your Prague dream. And what's more - we can arrange everything remotely, stress-free. We are your partner to help you make Prague your new home.
Click connect to have our partner contact you via e-mail and/or phone.
Urban Address Prague is a bespoke boutique one-stop-shop solution for your property needs in Prague and the Czech Republic. We don't just find you the perfect apartment, we build your Prague dream. And what's more - we can arrange everything remotely, stress-free. We are your partner to help you make Prague your new home.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Prague?
If you are thinking about moving to Prague, cost of living in probably a key consideration. Expats commented about the cost of housing:
"We pay the same here as we did for a house close to the beach and forest in a nice area of Denmark," explained one expat living in Prague, Czech Rep.
"The average cost of housing in Prague is relatively high compared to other cities in the country. Renting an apartment in the city center can cost anywhere from $800 to $1,500 per month, while renting a house in the suburbs can cost around $500 to $1,000 per month. Prices vary depending on the size and location of the property," said one person in Prague.
Should I buy or rent a home in Prague?
If you have not spent a lot of time in Prague, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Prague can be a great investment, as the city is known for its vibrant culture and beautiful architecture. However, it is important to consider the cost of living in Prague, as well as the cost of purchasing a home. Renting a home in Prague can be a great option for those who are looking for a more flexible living situation, as it allows for more freedom to move around and explore the city. Ultimately, the decision to buy or rent a home in Prague should be based on individual needs and preferences," remarked one foreigner who made the move to Prague.
What do I need to know when buying property in Prague?
When we asked expats what advice they would give a foreigner before buying a property in Prague, they said:
"1. It is important to research the area you are interested in buying property in, to ensure it is the right fit for you. 2. Make sure to hire a local lawyer to help you with the legal aspects of the purchase. 3. Be aware of the taxes and fees associated with buying property in Prague, such as the transfer tax and registration fee. 4. Consider the cost of living in Prague, as it is higher than in other parts of the Czech Republic. 5. Make sure to get a survey of the property you are interested in, to ensure it is in good condition. 6. Be aware of the different types of property available in Prague, such as apartments, houses, and commercial buildings. 7. Consider the rental potential of the property you are interested in, as this can be a great way to generate income. 8. Be aware of the different types of mortgages available in Prague, and make sure to shop around for the best deal. 9. Make sure to get a good understanding of the local real estate market, to ensure you are getting a fair price for the property," said one foreigner living in Prague, Czechia.
Are foreigners allowed to own property in Prague?
When we asked expats what advice they would give a foreigner before buying a property in Prague, they said...
"Yes, foreigners are allowed to own property in Pragueublic. However, the process may be slightly different for EU citizens and non-EU citizens. EU citizens can purchase property in the same way as Czech citizens, without any restrictions. On the other hand, non-EU citizens may need to establish a Czech legal entity, such as a limited liability company, to purchase property. It is essential to consult with a local real estate attorney or expert to ensure compliance with all legal requirements and regulations," said one expat in Prague.
What appliances are typically included in a rental?
We asked foreigners in Prague what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Prague typically include a refrigerator, stove, oven, and washing machine. Some properties may also include a dishwasher, microwave, and other small kitchen appliances. Depending on the property, air conditioning and heating may also be included," said one foreigner living in Prague, Czechia.
Additional Information about Searching for a Home in Prague:
We asked foreigners in Prague what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Pragueublic often begin by browsing online property portals and websites that cater specifically to the expat community. They may also join expat forums and social media groups to seek advice and recommendations from fellow expats who have already gone through the process of finding a home in Prague. Additionally, expats may choose to work with a local real estate agent who is familiar with the city and can help them navigate the rental or buying process. Some expats may also rely on word of mouth and personal connections to find housing options in their desired neighborhoods. It is also common for expats to visit the city and explore different areas in person to get a feel for the neighborhoods and available housing options before making a decision," explained one foreigner living in Prague, Czechia.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Other Questions:
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