The Czech Republic’s property market has blossomed in recent years, driven by the booming economy, EU accession and an increasing number of Czechs seeking to move out of the ugly concrete tower blocks that had been a symbol of the communist era.
A further boost, particularly in Prague, has come from a wave of investment by foreigners. In the luxury segment, they accounted for up to 50 per cent of buyers, says Jakub Hrabovsky, vice-president of Lexxus, a real estate company.
