Apartments for sale in Prague: where first-time buyers look

Buyers in Prague carry two budgets: the one in their head and the one a bank will sign off. The gap between them decides which districts make your shortlist. Here is a tour of the areas first-time buyers tend to land in, and what each one costs you in other ways.

Think resale before you fall in love

A first flat is often a stepping stone, so ask how easy it would be to sell or let. Flats near a metro stop, with a lift, in a building with a healthy repair fund, move more easily than a fifth-floor walk-up that hasn't seen a builder since the nineties.

We don't print prices per square metre, because they go stale fast. For the live picture, check asking prices on the portals, then ask a bank or broker how it would value a comparable flat. The Czech Statistical Office and the Czech National Bank publish the wider trend.

The districts

Smíchov has big new projects around its transport hub, and our Smíchov guide tells you how it feels to live there. Karlín is modern and close to the centre; read the Karlín guide, then see what is for sale in the new developments in Karlín (in Czech).

Prague 9 and 10 appeal to buyers who want newer flats on a metro line without a central premium. Compare Vysočany, Vršovice and Strašnice.

The southern and western estates give you the biggest flat for the money, and many panel blocks have been renovated. Our panel-block explainer says what to inspect, and the guides to Chodov and Háje and Modřany show how those areas feel day to day.

Something different

Not every first flat is a standard apartment. Two corners of the market are worth knowing about:

• Co-operative flats. The co-operative owns the building and you hold a share and a right to use the flat, with transfers not recorded in the cadastre. Banks may treat these differently, so ask before you reserve, and have a lawyer read the structure. A starting point is the co-operative flats in Prague page (in Czech).
• Lofts. Converted industrial space has its own quirks, from ceiling heights to heating, and the lofts in Prague page (in Czech) shows what the genre looks like.

New or old?

A new-build brings modern insulation, a warranty and a developer to deal with, and you may wait months for the keys. A resale gives you history, sometimes a bargain and sometimes a problem nobody mentioned. The first path is mapped in our new-build guide, the second in the first-flat guide.

Checks that apply everywhere

Ownership passes on registration in the cadastre, and there is no property acquisition tax. Foreigners can buy without special permission, though a mortgage depends on the bank's assessment.

Can you afford it?

Work backwards from what a bank will lend and what your savings cover. Our guide to how much deposit you need explains the own-contribution side. Then check the repayments against your budget, using a rate higher than today's.

A common first-purchase strategy is a smaller flat in a better spot rather than a bigger one in a worse place. If you expect to stay five years, think resale. If you expect twenty, think life.

Visit like a resident

Agents show flats at their best: lights on, windows open, a flattering hour. Go back alone on a weekday evening and again on Saturday morning. Count the people on the stairs, listen for the neighbours, sniff the cellar. Time the walk to the tram and the shops. You can renovate a kitchen but not a neighbour.

Frequently asked questions

Which district is best for a first-time buyer?

It depends on your budget, commute and the type of flat. Compare several districts on the portals.

Are new-builds better than resales?

Neither is better in general. New-builds offer modern systems and a warranty, resales offer immediate availability and established buildings.

How do I check current prices?

Use the property portals and a bank's valuation.

Can foreigners buy in Prague?

Yes. A mortgage depends on the bank.

This is a general explainer, not legal or tax advice.