A good rule of thumb is to take the purchase price and add 6 to 8% to cover all real estate commissions, expenses, taxes and fees if you are purchasing in the 1.000.000 to 2.000.000 range. For purchases above the 2.000.000 CZK range it is on the lower end of the range of 6% and sometimes even lower.

Thus, on a purchase of a property worth 1.600.000 CZK, your normal total price would be approximately 1.728.000 (total fees are 128.000).

Prices for legal services and commission fees inside of Prague can be higher than outside due to the competition for attractive properties and also higher cost of doing business in the city.

Once purchased, yearly land and property taxes must be paid, but are extremely minimal. They range from 1Kc to 4Kc per square meter, per year. Maintenance fees also apply, and will be briefly discussed in the next question.

You can ask any questions about this article or Czech property in general, by contacting us at: info@czechpoint101.com.

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