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Investing in the Czech Republic property market makes perfect sense, claims one expert…
Damian Qualter, MD of PragueProperty4Less explained: “The country ticks all the right boxes: high capital growth, No CGT, laws in favour of the landlord and a massive shortage of property.
"The Czech Republic is becoming a powerhouse throughout Eastern Europe. Prices have continued to rise despite a global credit crunch and the market is booming.
“Added to that, the economy is growing at 7% pa. There is a massive shortage of new property being built to replace the crumbling Panelaks (former State controlled housing).
Pro landlord rental market
Mr Qualter added: “25-40 year olds are now aspiring to live the lifestyles of their European counterparts. Estimates from the Czech Statistical Offices reveals the need to build 50,000 new dwellings annually until 2010"
”The legal system is easy and in favour of the landlord. Indeed, currently 90% of the population lives in the state controlled housing sector. Rents can be freely agreed and if the tenant fails to pay they can be quickly removed at their expense.
”The Czech Republic also offers low transaction costs to buying property from other countries. There is the added benefit of no CGT if the property is held for 5years +.
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