foreign investment in czech republic may be boosted by law change
News Posted On: 20 November 2008
The Czech Republic may see an influx of foreign investment due to a change in property legislation in the country.
According to Property Wire, a new law allowing foreigners to own land in the eastern European nation has been approved by the Czech Cabinet.
Investors in the country are currently only able to purchase real estate through a limited liability company.
Ondrej Novotny, an analyst at King Sturge, said: "People from outside the EU will welcome the amendment. We expect a lot of interest in middle and high-end property."
This could be good news for those with rental homes in the Czech Republic as an increase in foreign investment could lead to more people wanting rental accommodation.
A Royal Institution of Chartered Surveyors study, showed that 46 per cent of surveyors reported a fall in prices of property in the Czech Republic and other emerging European nations, according to Building.co.uk.
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