If you are looking to invest in the Czech Republic by buying real estate in Prague, this may be the right time … The Czech crown has begun to drop against the Euro, and some property developers have reduced the prices of new projects. The price of apartments has begun to fall as well Selling prices for residential real estate can vary widely depending on age, city, location, size and quality.

Prices for the purchase of a three-room apartment in Prague range from CZK 14,000 to 80,000 per m2 (EUR 900 and 5,500 per m2), while the range in Brno is from EUR 400 to 1,500 per m2 and in Ostrava it is from EUR 300 to 900 per m2. But if you’re new to the city, renting might be the safest option. This can give you the time to get a feel of the place and do your own research of the market.

Renting apartments in Prague for shor or long term is not as easy as one might think. First of all, rent is often more expensive for foreigners than for Czechs. One reason is that the agencies that focus on foreigners tend to charge higher prices. Furthermore, prices in Prague (especially in the center) are as high if not higher than most large European cities.

Nevertheless, bargains are possible ! If you do look for apartments in the Czech media, here are some useful terms to be aware of:

• Samostatný: own room
• zařízený: furnished
• průchozího pokoje: through room
• nezařízený: not furnished
• Společný: shared room
• vcetne poplatku: bills included
• + poplatky: + bills