Property for sale in Prague

To assist you with the seemingly difficult task of purchasing a property for sale as far away as Prague, we've addressed some of the basic issues so that you?re real estate purchase will be as successful as possible. After all, if it's done correctly, a real estate purchase in Prague can be a great addition to your overall investment portfolio or even for a second home in one of the most historically rich cities in Europe.

Financing the mortgage

The mortgage for your Prague real estate purchase will undoubtedly be in the local Czech currency (Czech crown). That means that you'll have to convert your local currency into Czech crowns. Just realize that you the rate you receive can change within days (even minutes) against your foreign currency. You'll also have to pay a certain percentage fee to convert the currency. If you're not planning to buy a property for sale in Prague at the current time, then you can opt to set up a forward contract so that current rates are guaranteed for a specific time period. You would only want to consider that option if you believe that the current exchange rate is in your favor but might change for the worse in the future.

Mortgages usually cover up to about 90% of the total purchase price, but banks might request up to 30% down on the property for sale to limit their risk, especially for non-citizens.