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Czech Republic – Top 10 research resources
Our search for the best website resources for the world’s emerging property markets turns this week to Central Europe and focuses on the
Czech Republic. Since accession to the EU in 2004, many property ownership restrictions there have been dropped for overseas investors and there’s a
wide range of property now on the market aimed at overseas buyers.
Potential investors will not only be impressed with reports of
double-digit capital appreciation in the capital, Prague - they will also be attracted by the availability of a
100% mortgage product on Czech property. Without the need for a lump-sum deposit, purchasing a Czech home becomes an appealing prospect for cash-strapped buyers in a year that has seen the
withdrawal of similar products by all the major lenders in the UK.
At the end of 2007, Channel 4’s A Place in the Sun placed the Czech Republic at 13th place in its list of the world’s
20 Best Places to Make Money on property. Investment is not just restricted to the capital though, with the towns of
Brno and
Plzen among the other places benefiting from significant injections of money coming from both Czech and foreign sources. Increases in
tourist numbers are not exclusive to the capital either, enhancing the rental appeal of properties in all popular destinations around the country.
We’ve looked at hundreds of websites relating to Czech real estate and selected the ten we consider to be the most useful. If we’ve missed one of your favourites, or want to share your views about the sites we’ve chosen, please
post a comment below:
Prague Daily Monitor. Extensive real estate news from all over the Czech Republic, from the Monitor’s own reporters and aggregated from other sources. Most is free to access, though some articles require a subscription to the premium MonitorPlus service, currently CZK2,500 (£80) per year. There’s a two-week free trial available to road-test this service, or sign up to receive a regular free email newsletter.
Legal 500 – Czech real estate law firms. Good local legal representation is key to a successful overseas venture. This extensive free online guide to the top law firms in the Czech Republic (just one of dozens of territories covered) gives details of the best practices in the real estate and construction sector, as recommended by clients and fellow legal professionals. The 2008 print version, covering all countries, is available for £120 from the site.
International Law Partnership buying guide. An extensive and detailed guide to property ownership in the Czech Republic that takes you through the buying process step by step. With some restrictions on ownership (dependent on the buyer’s nationality) and a legal system significantly different to many others, familiarising yourself and your clients with this process is vital.
My Czech Republic. This tourism site is a good place to start acquainting yourself with the country’s regions and places of interest. Sections on culture, language and news will also benefit those looking to expand their knowledge of the Czech Republic.
The Prague Post. This site, based in the capital, provides monthly property industry news from around the Czech Republic and elsewhere in Central and Eastern Europe. All the current and archived articles are free to view.
Czech Statistical Office. All the country’s most up-to-date government socio-economic data (and archives for the last few years), much of which is freely downloadable in Excel/PDF formats. The construction and tourism sections will be of particular interest to property industry visitors.
Czech Ministry of Foreign Affairs. The official website for the Czech Republic offers a great deal of business information, news and statistics along with plenty of other extensive information about life and culture in the country.
Economist Country Briefing. A respected source of general economic and political news and analysis relating to the Czech Republic, alongside some of the latest facts and data available. Much of it is free, but an annual subscription, from $79 (£40) per year, gives you full access to all articles, reports and data.
ARKCR.org. The Association of Real Estate Offices of the Czech Republic is the only professional association in the unregulated world of Czech real estate. ARK CR was founded in 1991 and now boasts over 200 members, as well as official links with international organisations such as FIABCI, the NAR and ICREA. Their site features directories of member agents and all relevant property legislation.
Czech Real Estate glossary. With many countries, a little of the local language can go a long way when you’re sourcing information, as many websites are not always available in an English version. This glossary from Czech Real Estate, in conjunction with a little help with pronunciation from
LocalLingo, is a good first step with your Czech property vocabulary.
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