Property purchase in the Czech Republic!

You may decide at some point that it is time to buy property here. It may be useful to take the next steps before you do so to ensure that the process is as smooth as possible.

Taking a mortgage into account? real estate in qatar

You should check first and get the best mortgage rates in the Czech Republic.

Search for a place

You can visit a number of websites to find a plot of land, a house or an apartment. Both of these servers are and, but they can be difficult to describe, so you can learn some basic Czech terminology.

There are also thousands of properties on the Real Estate Server for rent and sale

You can use English or Czech search terms such as 'reality of Czech Republic,' 'reality of Prague,' 'nemovitosti' or 'pozemky' to search Google. The 'Byty'(apartments) also appears to work, but it seems too general for 'domy' (houses/buildings). The advantage of using the Czech search terms is that you use Czech net companies. Because of the nature of the market, the same property is frequently listed by different agencies and is often very confusingly present with different prices and descriptions.

Ben Anderson, of The Czech Property Company, warns of the prices listed. Ben (originally from the UK) has a 17-year experience of Czech real estate and at the same time has the accumulated years of knowledge of the market and the language. He claimed that most prices advertised would be above the actual market value, with the lower prices just above market value. He recommended a deduction of 15 percent to an acceptable market value from the advertised price. This is mainly due to the vendor not seeking adequate advice or supported evaluations before the property is marketed. If you are unfamiliar with the market, secure the services of a consultant who is aware of your concerns and who can guide them through the web's wealth of information.

Ben offered this advice as to which location will give you the best return for your investment. "If you buy a classic Prague property in a region dominated by other classical Prague buildings, you buy into Prague's fabric. This is always an attractive option, and even if I don't want to talk of value growth, it's certain that it's at least worth it compared to other places."

Apart from the historical town center there are additional factors that affect value, returns and ease of exit; these include international schools (e.g. Nebušice houses are easily rented because of their proximity to the ISP), clean air or parks (e.g. Průhonice) or even the simple old snob value for a good address, like Hanspaulka in Prague 6.

Registry of the Land

The very first thing you want to do is to receive a Statement from the Land Registry (Výpis z Katastru nemovitostí), assuming that you are going to buy an established residence. This step is to make sure that the person who sells the property is the legal owner. Only the legal owner is entitled to sell, but in certain circumstances, the owner may conclude the sale on behalf of the owner, by lawyer or other third party acting on a valid power of attorney. You don't want to find yourself giving money and can't move into the house. The statement also shows if there are any loans that can be transferred to the new owner in the house. These loans are usually cleared by the former owner as soon as they get the money.

Fortunately, it is only a matter of visiting the closest Czech Point to receive a complete statement (list vlastnictví. Most post offices have a Czech POINT window. The statement costs CZK 100, and the applicant must supply a certificate of identification, a land register area, an ownership document (LV), a land lot number and a building registration number or unit number. (Courtesy information Česká pošta) Note: Any notary will do that, and because this is public information, you don't have to show your ID. The cost is per page, and there are several statements.

You can obtain one from the Land registry in the municipality where the property is located if you want a land map from the Land registry. Or this website you can use. It's just about entering the street and town in the left top of the box.

Alternatively, the website of the land register offers a complimentary service for short statements of ownership (loans and other defects will not be visible) and land map images. Only enter the municipality and the house/plot number and ownership details will be shown without charge.

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