Property Investment in Czech Republic

The Czech Republic is a beautiful country with the river valley areas of Vltava (Moldau) and Labe (Elbe), and the hilly landscape and rocky mountains dotting the landscape of the country.

The Bohemian Paradise in the northeast is a favourite among the hiking and climbing enthusiasts with several opportunities to enjoy the thrills associated with the adventure sports. The Agricultural eastern region of the country depicts a typical European countryside with historical castles, wooden highlands, and vineyards presenting a picture-perfect view.

The capital Prague is one of the most modern cities of Europe with several international fashion houses setting up their shops in this upscale city. The city has lots of nightclubs, lap dancing bars, casinos, theatres, opera houses, cafes and bars to make the life hip and happening.

The ever-improving Czech economy is the icing on the cake for the real estate investors. All the above-mentioned factors, when combined with a rosy economic condition of the country translate into a robust real estate market promising handsome rewards and a flurry of activities all around the year. And lower inflation and unemployment rates are just about perfect incentives for a large number of property investors in the country.

Undoubtedly, with limited tourism potential, the capital city becomes the hub of all major real estate investments in the country. Prague can be safely considered as the centre of the country’s business and tourism activities. As a result, big MNCs are flocking the city with extra cash in their coffers to maximize their profitability by heavily investing in a vibrant city.

Prague is also lucrative in terms of low cost of living. Though the capital city is the costliest to live in the Czech Republic, but if you compare the costs with other major European capital, it’s just a fraction. Resultantly, the rental income is always a prime factor and consequently, there’s a heavy demand for the buy-to-let properties from the investors. Swanky 2-bedroom buy-to-let apartments can be bought for as low as £119K. However, basic buy-to-let apartments come at an extremely cheaper rate of £20K onwards.

The government is working towards reducing the tax liability of property owners and simplifying the rigorous procedures and laws governing property transaction in the country. This has led to a large-scale investors’ interest in other parts of the country as well, like Brno. Some excellent buy-to-let apartments in Brno are priced competitively at £35K onwards.

Exploring the off-plan properties in Czech Republic is also worth the effort particularly due to the fact that the property prices are on an upswing, and it makes sense to buy it off-plan to save extra pounds and make a decent killing from future dealings.

Since the cities are developing at a fast pace, an astute investor will do well to explore the commercial property segment as well in order to reap rich dividends in terms of rental and/or resell profits. The spending capacity of consumers is on an upswing and the obvious impact is being felt in the commercial real estate. If finance is your problem, there are several mortgage options available in the country at low interest rates.

Shopping In Prague, Czech Republic

Prague is a unique travel destination which has so much to offer its visitors. It should therefore come as no surprise that Prague is one of the most visited tourist destinations in Europe. The Czech capital offers history, culture, entertainment and excitement to both travelers and local residents. Prague’s main shopping area covers Wenceslas Square and Republic Square and offers everything from local shops to international department stores. Smaller boutiques, souvenir, and art shops can be found in the Old Town Square and Mala Strana. The Cerna Ruze Shopping Center near Wenceslas Square contains several shops, restaurants, and cafes for the casual shopper. International stores such as Adidas, Dolce & Gabbana, and Bang & Oulfsen can be found here.

Other familiar department stores of interest would include Debenhams, Tesco, Marks & Spencer, Kotva, and C&A Department Store. The famed Bohemian crystal, porcelain, and hand-blown Moser glass can be found in stores in Old Town. There are also a large number of antique stores offering antique watches and jewelry, paintings, historical glass and china.

Handcrafted jewelry can be purchased at specialty stores like Blue Rabbit, where it is said that no two pieces look exactly alike. Czech garnets, which should come with a certificate of authenticity, are easily available at stores around the city. Another interesting Prague souvenir is the marionette. They come in all manner of sizes and quality and the prices vary accordingly. They can be gifted as toys to children or even as showpieces to adults since they make good conversation starters.

The open air market in Holesovice is a shopper’s paradise due to the wide availability of bargains in a single location. Heavy bargaining will solicit some major discounts, particularly if more than a single item is being purchased. The stalls offer watches, clothing, shoes and boots, handbags, knives and swords, perfume, and jewelry. A number of Chinese takeaway stalls offer good food at low prices here.

For those interested in wrought iron handicrafts, blacksmiths in the Old Town Square work within view of the public. One simply has to make a request and the item will be forged right there. Prices vary according to the item.For a glimpse of art in action, take a walk down Charles Bridge, where artists have their works on display. The most popular of these are the watercolor renderings of the landscape, all of which are done in minute detail. Best of all, you can bargain for and buy your favorite paintings.