First-time buyer budget in Prague: a cost worksheet

Buying a flat is like packing for a trip. The visible bag is the price, and the real weight is everything stuffed into the pockets. This worksheet lists the pockets. It will not tell you what you can afford, because that depends on your income, your bank and your nerve. It tells you what to ask, so you can fill the cells with real quotes. For the rent-or-buy decision itself, see rent versus buy for a young professional.

Start with cash, not the loan

The Czech National Bank (ČNB) recommends loan-to-value limits to banks: up to 80% of the property value for owner-occupied homes and up to 90% for applicants under 36 (as of 2026; check ČNB). Banks apply them in practice, so your own money is at least 20% of the value, or 10% if you qualify for the higher limit.

A hypothetical illustration, not a quote: on a flat valued at CZK 6,000,000, a 20% deposit is CZK 1,200,000 and a 10% deposit is CZK 600,000. Costs come on top of the deposit, not inside it. We go deeper in how much deposit you need.

Debt-service limits (DTI and DSTI) are currently switched off nationally, but banks still test whether your income covers the repayments. The first-mortgage guide on Hypoteky.com walks through the process, and its tool can estimate how much a bank may lend from income and costs. Banks, not websites, decide what you actually get.

One-off costs

Ownership passes when the transfer is registered in the cadastre (vklad), not when you sign. The fee applies per application, so a purchase with a mortgage means one application for the transfer and another for the bank's lien. A 20-day protective period must pass before registration can be completed.

There is no property acquisition tax now: it was abolished in 2020 for tax liabilities from December 2019. Older guides still tell you to budget 4%. Ignore them.

Payments over CZK 270,000 must be made by bank transfer, not cash, and same-day payments between the same two parties are added together (as of 2026; check Finanční správa). Do not plan on a suitcase of notes.

Ask your bank which costs it adds to the loan (valuation, account fees, insurance) and which it expects up front. Our mortgage comparison checklist helps you line up offers.

Monthly costs

The building fund (fond oprav) is the one that catches first-timers. In a flat in a block you pay monthly into a pot for the roof, lift and facade. Ask for the last three years of accounts and the planned works. A low monthly figure may only mean the work has been postponed.

The costs people forget

Fixing and furnishing. A flat sold with a tired kitchen or bathroom wants money soon after you move in. Put a repairs reserve on the sheet from day one.

Two sets of housing costs. If you still rent while the cadastre registration or building work finishes, you pay rent and the first mortgage instalments at once. Our guide to moving within Prague shows how to time the overlap.

Time. A purchase with a mortgage involves a valuation, a loan approval and a cadastre registration. Allow several weeks between signing the purchase contract and getting the keys, and agree with your landlord how long you will keep renting.

How to fill it in

Use two columns: the amount you have a written quote for and the amount you are guessing. Anything in the guess column is a risk, so turn every guess into a quote before you make an offer. Add a buffer, because new owners almost always find something. Then do the sum twice, once at today's rate and once at a higher rate for when the fixation ends, so you see what a reset would do.

Before you commit

The buyer's viewing checklist covers the physical flat. For the legal and money side, read our plain-English guide to your first flat and the questions to ask first.

Do not sign a reservation agreement or pay a reservation fee before you have read it and know what happens to the money if the bank says no. If in doubt, have a lawyer read it. A week of checking is cheaper than a lost deposit.

Frequently asked questions

How much deposit do I need as a first-time buyer in Prague?

At least 10% if you are under 36 and at least 20% otherwise, before costs (as of 2026; check ČNB).

Is there a tax when I buy a flat in Czechia?

No. Property acquisition tax was abolished in 2020. Fees, notary or legal costs and the annual property tax still apply.

Can foreigners buy property in Prague?

Yes. Foreigners can buy real estate in Czechia without restriction. Mortgage terms for non-residents differ by bank.

Do I pay property tax every year?

Owners file an annual return by 31 January and pay by 31 May (as of 2026; check Finanční správa).

Print the worksheet, fill every row with a written quote, and only then fall in love with a flat.

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