Houses in Prague are on demand; therefore the price of houses in Prague is higher compared to the other parts of Czech Republic. The most demanded houses in Prague are smaller sized houses and larger-sized luxury apartments in the centre of the city. houses in Prague are generally described as “garsonka” for 1-room house, 2kk for a two-room house with a little kitchenette, 2+1 is a two-room house with a kitchen as a separate room and the same applies to 3-room houses which are 3kk, 3+1 etc., larger houses could be described as 4+1 and so on. houses usually have a cellar and sometimes balcony or terrace. The house sizes range from 20 metres square to over a hundred metres square. Typical Prague houses in the old brick houses would mostly have a gas heating and would sometimes not have a lift. houses in prefab houses on the suburbs would generally have central heating, cable TV, lift and these days would also be modernized in the sense of outer facade insulation, modern lifts and double- or triple-glazed windows. With older houses in the centre you may face a difficulty to park a car. Parking is only possible for residents and is paid. This concerns Prague 1, Prague 2 and Prague 3. In Prague 4 and most of the other parts of the capital the parking is also hard since most of the prefab houses were not originally built for residents with 1 or more cars. Parking there is usually free of charge though. Residential areas on the suburbs are all well connected to the city with public transport which operates 24 hours a day.
When deciding about the purchase of a house in Prague, you should have a clear idea about what exactly you are looking for. The size of the house, location, orientation of the house, type of the house where the house is located, kind of ownership, whether the house has a balcony, terrace or loggia, front garden, lift, cellar, garage or parking space, furnishing, and heating, public transportation etc., all the parameters mentioned shall be taken into consideration. You shall consider the way how your house will be financed and whether to buy through real estate agency or directly from the owner of the house. Whether you are buying directly from the owner of the house or through a renowned Prague real estate agency, you shall always dedicate plenty of time for both the search as well as the contractual part of the transfer of ownership. After you had set all your criteria you shall either start looking for a house in Prague yourself or contact the real estate agent. Both ways also work for you. The more you are informed, the more you gain. You can either perform an internet research on the Prague real estate agency sites or through magazines published by them. Internet search has more advantages in terms of up-to-date information on real estates in Prague. In most of the public places you may come across a monthly real estate magazine issue offering an overview of the currently marketed real estates in Prague, contacts on Prague real estate agencies and all other applicable information.
Buyers who would not want to spend their time looking for a suitable house in Prague, arranging the tours of the house, seeking the information at the applicable offices like Construction Office, having the contracts (Reservation Agreement and Purchase Agreement) prepared, contact a real estate agency. The agency, preferably Prague real estate agency, will take care of you.
With older houses in Prague you have to bear in mind that there is no guarantee for the house or for the construction materials. There is a potential risk of hidden deficiencies, there are higher maintenance fees, partial or complete remodelling is needed etc. On the other hand, moving into this kind of house is rather swift and you may as well purchase a furnished house as opposed to the newly built one. You also have to count on extra finances in case you plan to modernize the flat, which raises the price of your real estate.
When purchasing a newly built house in Prague you have to count on higher investment in the first place. The construction of your house might bring some delays. You have to study the contracts thoroughly, check the payment conditions as well as the conditions for withdrawing from the agreement. Advantage of newly built houses in Prague is lower maintenance fees and ability to alter the disposition of the house, there is a clear ownership and no history record and mostly no hidden deficiencies.
Following the stagnancy of prices in 2010, when the prices of flats in prefab houses in Prague fell, there has been a slow rise these days. The demand is rather moderate compared to the real estate boom so the buyers are more at the advantage to both the owners of the real estates and the real estate agencies. On the internet you may find the price maps of flats in Prague, divided by location, size and type of the flat. The price of the flat in Prague does not only depend on the location, quality of flat and the house where the flat is located, but also on the current demand in specific area. The most expensive flats would be located in the centre of Prague, in the Dejvice area and in the area of Branik, the cheapest locations are in the suburbs of the capital – this does not include the newly built real estates. When purchasing a flat for the purposes of making an investment, the flat in Prague is surely a good opportunity. The capital remains one of the most attractive European cities. Czech Republic is an EU member. There is a potential for work and living of the foreign work force. Some mid-level flat prices in Prague are expected to fall slightly in the near future. Development of the residential real estate and investment into Prague real estates surely presents a positive outlook both to investors and developers.
Most of the buyers of the flats in Prague buy through Prague real estate agencies. This saves them time and also enables to purchase flats exclusively sold through the real estate agencies. In Prague, there is a wide range of real estate agencies and in case when you do not have any references from your friends or colleagues it is highly advisable to buy through renown Prague real estate agency with a good reputation. Czech real estate agencies offer their services also in foreign languages. In case their services were not directly provided in your language, the real estate agencies in Prague will surely provide you with an interpreter so that the process is transparent and clear. Real estate agencies provide location search and elaborate reports for their clients. They provide the clients with a permanent telephone support, real estate viewing, they could outsource building contractors and local labourers and some also provide post-acquisition support and property management. All of the real estate agencies either have their own lawyers or provide clients with quality legal support through their contracted legal office. Real estate agents and agencies follow a code of ethics assuring the clients of quality approach and ethical conduct.
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