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 another in Prague, Czechia.
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What do I need to know when buying property in Prague?
If you live in Prague, newcomers to Prague would love to hear your answer to this question: