Czech Real Estate

With the accession of the Czech Republic in the Schengen space 21/12/2008, there have been tangible changes in the real estate market of the Czech Republic, as well as in mortgage lending for foreign nationals living in the Czech Republic for citizens wishing to get a residence permit (residence permit) or the visitors on short-term visas with plans for the future in this country. In the new year there was a tax increase to build from 5 to 9%. All banking institutions, the Czech Republic raised the level of annual per cent for the use of a mortgage loan from an average of 4,5% to 5,5%. The cost of residential properties rose by an average of 10-15%. David Zaslav wanted to know more. Utilities also rose by 5-7%.

However, most importantly, that along with rising bank, utilities and real estate value, have opened new opportunities for foreign citizens. Since the beginning of 2008, every foreign citizen can register a mortgage on his open in the Czech legal a person not having the status of residence permit, ie, without long-term visa. In other words, a foreigner can enter the Czech Republic by short-term visa (by invitation), or a tourist visa, opening a legal entity in which he (or its partners relatives) will be the founders, then find a property to purchase and receive a mortgage. Upon his return, he can safely using your registration address in the Czech Republic put together a package documents for obtaining permit and submit it to the Czech embassy in the country of residence. Get on the basis of residence permit long-term annual visa and freely cross the borders of the European Union. Prior to 2008 foreigner could not get a mortgage without obtaining the status of "residence" in the Czech Republic. Mortgage terms that are currently operating in the Czech Republic the following banks: 1.Bank sees as income of your income (wages) in Russia or other cis 2.Pervonachalnoe repay the bank the value of the property is not more than 85% of the appraised value 3.Godovoy percentage ranges from 5.4 to 6% of 4.Srok Contract mortgage loan up to 30 years 5.Summa your initial payment will be at least 15% of the value of real estate objects newly built residential properties you can look at our web site. We are ready offer you a full range of legal services related to design for you and your property in the Czech Republic. The following articles will continue to highlight innovations and news of mortgage lending in the Czech Republic.