Foreigners leave the real estate market in Prague

Foreigners leave the real estate market in Prague

The rise in housing prices in Prague has scared away many foreign investors. The number of deals in the first quarter 2013 declined sharply, falling by 15% compared to the same period in 2012, according to Czech Radio.

For comparison, in 2008-2009, 70% of buyers in the capital of the Czech Republic were foreigners, now this percentage are Czech citizens, said company spokesman Simproperty Monika Dubová.

According to the last population census in 2012, 10% of Prague residents are foreigners: basically, they are temporary workers from Ukraine and Slovakia. But the most active buyers in real estate market in Prague are citizens of Russia, Vietnam, USA and EU countries.