Prague is a diverse city. It isn`t odd here when a smart home set in a historic downtown. It amazes with an enthralling contrast.
Luxury property in Prague is a dream for one and the aim for other. Those who are just dreaming about it just don`t understand all the advantages of taking ownership of such a forward-looking investment.
First and foremost, you should be aware that nowadays CZK 94,236 per square meter is the average purchase price for an amazing apartment in modern building in Prague.
It`s essential to claim that the popular locations in the capital of the Czech Republic are not only the new fashionable buildings. Sometimes older property, which is considered not to be at great request, costs 75-80 thousand crowns per square meter. What is more, it is able to exceed 90-100 thousand. A minimal cost of real estate in brick buildings is approximately 70 thousand crowns per square meter. However, it is far more spread when we`re talking about brick flats. Their price is nearly 80-90 thousand in accordance with Century 21 real estate brokers.
Although prices are rising, capital apartments are quite amusing opportunity for possible investments. Mainly for foreigners who live in countries where the return on property is lower. London is a great example of such situation because it is worse off Prague than Sotheby’s International Real Estate.
Furthermore, one must conclude that Prague differs from other cities significantly. It possesses average rents which are 2 to 3 times lower than in London. Nevertheless, the return on the rents of the capital of the Czech Republic is twice as high as in the British capital. This is the main reason why exactly Prague is known as a promising investment opportunity for the British. Entrepreneurs from Great Britain play an increasingly indispensable role in the life of this city. It`s almost impossible to imagine that EUR 89 million (2.2 billion crowns) were invested in the Czech and Central European real estate market in 2013 by British and then the amount of money has risen to 144 million EUR in 2016.
Leading specialists on the market emphasize: it is a fact that Prague is more inviting than the majority of European capitals in terms of return on investment.