Prague is the capital city of the Czech Republic and often better known as the “city of a hundred spires.” Prague brings to the mind differing aspects of this beautiful city. Some may think of stunning architecture, others will think of a former communist country whilst others may think of stag parties and the wild nights out. The property investor needs to think differently about a city to invest.

Prague has become a popular location for filming movies, as the city did not suffer much destruction in World War II. The city is often used to replicate Amsterdam and London. Prague hosts numerous cultural events and has many theaters. The “Black Light Theater” is a prominent feature of the cultural events that take place in the city and the art form is believed to have originated in Prague.

Popular property investment areas include Mala Strana, Stare Mesto and Nove Mesto. Property in Prague is charming with the medieval features of the ancient city. Visitors find cobbled roads, ancient courtyards and a couple of ancient castles. The city is lively and young. The social nightlife may last in to the wee hours of the morning and the younger generations are particularly drawn to Prague. The city has an excellent transportation system and the historic Charles Bridge joins the two parts of the city together in classic medieval style.

Overseas property investors looking for hard evidence that Czech Republic is a great place to invest need to follow the path of the big multi nationals. The Czech Republic capital Prague has been swamped by a large number of international businesses. They have been attracted to the region for several reasons. These include the business friendly regulations, large English speaking and educated work force and a good environment to work.

The communist era has left suburbs of Prague with inadequate and poorly built housing. The increasing wealth of the Czech national means they will no longer accept these poor living conditions and the demand for new housing is on its way up. Estimates show that nearly one third of Prague’s population need re-housing and experts in the region indicate that up to 15000 new homes need to be completed annually to 2010 to satisfy demand.

Prague has also been popular as a place for overseas property investors to purchase flats and studio apartments for rental to tourists, as the beauty of Prague makes visitors want to stay for longer than three days and two nights. There are numerous homes being sold for the purpose of vacation and holiday homes. Prague is also enjoying one of the most vigorous residential housing markets on the continent.

Prague is one of the most important historical preservation sites in central Europe. Prague’s unique city centre has been a UNESCO world cultural and natural heritage site since 1992. It is one of Europe’s finest cities. There has never been a better time to visit the Czech Republic’s capital city and experience the stunning architecture, lively culture and welcoming people.

A stroll through the Old City past Powder Tower (1475), the old town hall and other equally marvellous baroque architectural masterpieces leads to the Charles Bridge, one of the most photographed in the world. Prague Castle was created on the Hradshin River by a landowner called Premysl around 870, and Prague soon became the epicentre of the House of Premysl. Vratislav I, the first Bohemian monarch, transfered the royal residence to Vysehrad Castle in 1085, probably due to a power struggle with his sibling, Bishop Jaromir. Prague Castle remained the seat of the bishops of Prague for decades. The Cathedral of St. Vitus, another early building, is also located on the castle grounds.

Prague grows.

Protected by the two castles, an influx of German and Jewish merchants and local craftsmen led to rapid expansion on both sides of the Muldau River. The largest fortified area was near the already ancient Prague Castle. Prague received its city charter in 1234 from King Wenceslas I, who made it his primary residence. Shortly thereafter, the ”New Town” districts of Mala Strana and Hradshin were ffounded. The fourteenth century brought yet more prosperity to Prague. In 1348 the first university in central Europe was founded here, Charles University, named after Emperor Charles IV. In the fifteenth and sixteenth centuries, Prague was ravaged by two religious wars. The Hussite Wars (1419 1437) and the Thirty Years War (1618 1648) left deep scars.

The events that set off both of these conflicts took place in Prague. These include the famous ”defenestrations”, in which Catholic officials and dignitaries were thrown out of windows by dissenters, the first time by Hussites, followers of rebel reformer Jan Hus, and later by Protestants, setting off the Thirty Years War. The victims of the first defenestration did not fall far, but landed in the arms of a mob waiting outside to lynch them. The second time was from an upper story, but the Catholics were saved because they fell into a heap of garbage. From the Catholic viewpoint, divine intervention had intervened. The two long, debilitating conflicts slaughtered hundreds of thousands, setting back growth for many years. Like other afflicted cities, Prague lost most of its international prominence during this time.

Prague Spring.

In 1945, Prague became the capital of the Soviet Socialist Republic of Czechoslovakia. Communist leadership caused a deep seated financial crisis: the Soviet central planning bureau contributed to nearly complete economic stagnation. In the spring of 1968, public criticism grew and much of the population became increasingly disenchanted. Street demonstrations of the ”Prague Spring” were news all over the earth. Ultimately, power struggles within the ruling party led to the invasion of Prague by Warsaw Pact troops on 21 August 1968, and the brief period of expression was ruthlessly extinguished.

It would be 1989 before Prague separated itself from Russian control, and in 1993 was named capital of an independent Czech Republic. As well being its history, today Prague is also a center of culture. There are many theaters, museums and galleries, and the cities hosts film, music, writers and fashion festivals and shows. Because of its culture and historical heritage, is one of the world’s most popular tourist destinations, and the sixth most visited European city after London, Paris, Rome, Madrid and Berlin.