Czech list

The Czech Republic is reportedly on the verge of passing legislation that will permit foreigners to buy land...

Overseas nationals are currently only allowed to own land through a limited liability company.

"People from outside the EU will welcome the amendment. We expect a lot of interest in middle and high end property," King Sturge Analyst Ondrej Novotny said.

However, others are far more dubious about the impact that the law Change will have, because prices are relatively expensive, compared to other non-EU countries.

"It is nonsense to think that the foreigners are lining up outside our borders to buy some property," Jiri Fajkus, of Real Spektrum said. "Had they wanted to invest here, they would have done it already through companies or though individuals."

Property prices in the Czech Republic are expected to record major price falls in 2009, according to King Sturge.

"We expect a number of major buildings and properties to come on the market next year, as financial circumstances will force their owners to sell," said Dušan Štastník, an Analyst with King Sturge.

Source: www.homesoverseas.co.uk