Real Estate in Prague
Last updated on Feb 03, 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," remarked one member in Prague.
What is a typical expat home or apartment like in Prague?
"Expat homes and apartments in Prague tend to be modern and well-equipped, with many featuring contemporary furnishings and appliances. Many expat homes and apartments in Prague come with balconies or terraces, offering stunning views of the city. Expat homes and apartments in Prague are typically located in the city center, close to public transportation, shops, restaurants, and other amenities. Expat homes and apartments in Prague often come with access to a gym, pool, or other recreational facilities," remarked one member in Prague.
"We live in an apartment complex close to downtown Prague (Praha 2, Nove Mesto). Our apartment has a small garden, a common area, a swimmingpool and fitness facilities. Other expats live in our building, but many expat friends live in houses outside of town," explained one expat living in Prague, Czech Rep.
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:
"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," explained one person living in Prague, Czechia.
"We pay the same here as we did for a house close to the beach and forest in a nice area of Denmark," said one expat 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," wrote one expat who made the move to Prague.
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 Prague. Non-Czech citizens are able to purchase real estate in the Czech Republic, provided they have a valid residence permit. Foreigners must also obtain a permit from the Ministry of Interior before they can purchase property. The process of obtaining a permit can take up to three months. Additionally, foreigners must pay a transfer tax when purchasing property in the Czech Republic," wrote one expat who made the move to 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 expat in Prague.
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 can search for homes in Prague by looking online for real estate websites that specialize in the area. They can also contact local real estate agents who can provide more information about the area and help them find the perfect home. Additionally, expats can search for rental listings on websites such as Airbnb or Craigslist, or look for classified ads in local newspapers. Finally, expats can also join online forums and ask other expats for advice on finding a home in Prague," said one expat in Prague.
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.
- What do I need to know before moving to Prague?
- How do I find a place to live in Prague?
- What is a typical expat home or apartment like in Prague?
- What is the average cost of housing in Prague?
- Should I buy or rent a home in Prague?
- What should I pack when moving to Prague?
- What cultural faux pas should I try to avoid making in Prague?
- What advice do you have for expats having a baby in Prague?
- What are healthcare services like in Prague?
- Is the cost of living in Prague high?
- Will I save money living in Prague?
- Why do people move to Prague?
- How are healthcare services Prague?
- What are medical services in Prague like?