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Increasingly popular with
British tourists, the Czech Republic joined
the European Union in 2004 and never looked
back. The country has become one of the
most stable and prosperous of the postcommunist
states.
Its spectacular capital city of Prague mixes
entertainment and history and has benefited
from an influx of foreign investment in
recent years to become a major property
hotspot.
Almost three million people visited the
country in 2006 with 2.8 million visiting
Prague alone, making the city the key location
for overseas investors looking at the Czech
Republic.
The Czech Republic has become a country
with excellent investment opportunities;
the economy has gone from strength to strength.
Exports and output growth have increased,
while interest rates and inflation have
been reduced.
The improvement has been driven by several
factors, including EU membership, high levels
of foreign direct investment and consumer
spending.
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The regulations for foreign ownership of
property and the purchase process have both
been streamlined and simplified. The Czech
mortgage market has been maturing in recent
years, paving the way for domestic buyers
to purchase their own property and allowing
investors to secure the necessary finance.
Residential property in the Czech Republic
is considered to offer one of the safest investment
opportunities in Central and Eastern Europe.
Though rising rapidly, prices represent good
value in comparison with some of the traditional
markets for UK second home and investment
property purchasers. Several factors have
contributed to market growth, including EU
membership, strong economic performance, the
country's location in the heart of Europe
and a low supply of quality housing in relation
to demand. |
The Czech Republic has a temperate,
continental climate with relatively hot summers
and cold, cloudy winters, usually with snow.
Most rains are during the summer. The temperature
difference between summers and winters is
relatively high due to its landlocked geographical
position.
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Temperatures vary greatly depending on
the altitude. At the highest peak (Sněžka,
1602 m) the average temperature is
only -0.4 °C, whereas in the lowlands
of South Moravia, the average temperature
is as high as 10 °C. This also applies
for the country capital Prague, but this
is due to urban factors.
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