A bohemian city of unmatched real estate potential
Discover Prague's Real Estate
Prague is the largest city and capital of Czech Republic. It is home to over 1.3 million people with a rich sense of cultural and political values. With an export-oriented social market economy, Prague is currently Czech’s strongest economy city and 14th in World Bank Human Capital Index. Prague is true to its bohemian culture, reflective in the elaborate Romanesque style buildings and city layout. In all entirety, Prague is a city of economic excellence, profound cultural heritage, all-year-round tourism and on the verge of real estate dominance.
Culture, History, and Business
Prague’s rich bohemian culture and history have made the city a popular tourist destination. Listed among Europe’s most visited tourist destinations after London, Paris, Rome, and Istanbul, Prague’s tourism plays a significant role in the current real estate boom in the city. As of 2017, Prague receives more than 8.5 million international visitors all around its various tourism sites. Known across Europe as home to a wide variety of cultural attractions, some of which includes the popular old town square with the Astronomical Clock, the Charles Bridge, Prague Castle, and the Jewish Quarter some of which have made it into UNESCO list of World Heritage Sites. The city has a rich architectural heritage that reflects both the uncertain currents of history in Bohemia and an urban life extending back more than 1,000 years.
Historically Prague is over 1800 years old; it wasn’t until the 13th century that what we know today politically came into light. From being just a settlement in Vyšehrad to one of the most loved cities in Europe.
According to GaWC studies, Prague has been classified as an alpha-global city. The city’s economy relies majorly on agriculture, industry, and services. As of 2018, the Prague Czech GDP per capita at purchasing power parity is $37,370 and $22,850 at nominal value. The city has a highly diverse economy, one of the best in the world and ranks 10th in the annual economic complexity index as of 2019.
Real Estate Appeal
The historic bohemian styled city has been ranked as one of the most sought after real estate markets in Europe. With a stable rental market characterized by low property costs and pro-landlord laws, it’s quite explainable why real estate investment is skyrocketing. Prague practices a system of continuous property condition improvement. Hence, you’re less likely to find an apartment which is not in good standing. Based on Numbio reports, Property prices in Prague are way more affordable than the neighboring cities like Munich, Berlin, and Wien. In summary, the real estate market in Prague is quite affordable, and now is the best time to invest.
Explore Prague's Real Estate
Local Real Estate Experts
Attractive Investments In Prague
📍Over 13,337 investors explored Prague