Features to know before making Prague investment

Prague, spectacular capital of the Czech Republic, is actually that city, which market of the real estate has been a most-liked of investors in the property since the communism’s collapse. And if one makes the exclusion of those buyers who made their investments just as costs were on their cusp, these buyers were amazingly paid.

In 2009 the Czech legislation made it possible for people all over the world to purchase property for an individual on a civil passport. That period let foreigners possess groundbreaking possibilities and chances. They were able to buy apartments within days. Moreover, they got a right to rent it profitable considering that the Czech Republic annually leads the lists with the highest number of both short-term rentals and everyday rentals for tourists. Furthermore, access to a system of preferential housing loans, mortgages, was provided for foreigners which means that anyone from any part of the world can take a mortgage in the Czech Republic at 2.5-2.8% per annum up to 70 years (for the applicant for any Czech real estate, both residential and commercial). One should also admit that the possession of a long-term visa in one of the EU countries facilitates to taking down the mortgage rate to 2% -2.3%.

Here are some relentless features which prove the potential benefits of Prague investment:

• The money in the Czech Republic is transferred to the account of the reliable lawyer who keeps it. The money will be obtained by the seller only after the property rights are officially transferred by the Czech real estate Cadastre. This ensures customer safety. What is more, all guardian attorneys are insured.
• The involvement of a real estate agent is one`s guarantee of the transparency of the transaction. One also should draw the reader’s attention to that when buying a secondary real estate client pays a fee of 3% of the property`s value, when purchasing a new housing – 0%;
• Foreigners should remember that knowing something about the country and its language is not the same as knowing this very language. Sometimes it may be difficult to become aware of all the pitfalls and perceived risks. The agent ensures the absence of awkward situations.