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Those with an interest in real estate can expect the Czech markets to become even more competitive, and accession has opened up new possibilities for external investors seeking to acquire real estate. This will have an impact on not only those who invest in, own or develop property but also those whose business depends on being in the right location to serve customers or attract key staff in the Czech Republic.

The real estate market in the Czech Republic is increasingly attractive for external investors as part of general economic growth. Industrial property is particularly sought after and in Prague especially, the retail, office, hotel and residential markets have also expanded. In the border areas land and facilities are sought after by those developing logistics and distribution operations across the Central and Eastern European region, keen to exploit the strategic location of the Czech Republic.

For both local and international businesses that rely on real estate, key changes as a result of harmonisation with EU regulations affected VAT rates on commercial real estate transactions, transfer tax and changes to environmental standards. We have helped businesses to accommodate these changes with advice on all real estate issues from due diligence, planning, zoning and construction to financing, property management, leasing and major real estate acquisitions and disposals.

While the Czech government remains committed to a scheme of infrastructure construction and PPP, projects in real estate construction should increase as a direct result. We can provide advice on the real estate and construction law relevant to these developments, on the needs of local markets and on international financing structures that will be attractive to those looking to invest.