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Purchase of a chateau in Czechia

If you are looking for a house with park there are not many possibilities how to reach that target. Vilas or homesteads do not have parks. Should homesteads have fields or forests these are usually not in one piece and may be far from the building. So the only way is to buy a castle. And it is important that the chateau parks shall be cheaper that other types of land. Land speculators are not interested in them because parks are as a rule protected and cannot be used for additional construction.

If you plan to purchase a castle please do not rely on mortgage, banks do not want to finance purchase of chateaux. With the exception of the properties that bring profit. The banks would be happy to finance reconstruction of the chateau that you already own, should you present them good business plan. It is usually no problem to get a grant for new roof, just keep in mind that if you accept donation the authorities shall be telling you what technologies you are supposed to use. They say that it is possible to buy a chateau in Czechia for a price of two room apartment in Prague. It is true, but such a castle shall require total refurbishment. Refurbished chateaux can be purchased for prices around one million euro. Prices of highly representative properties usually start at 3 million euro and upwards.

Utilisation of castles

Many chateaux improve their finances by providing their facilities to the organisers of international conferences and staff training. Castle provides dignified venue for such events and moreover it is good that participants have to concentrate on the programme and cannot pursue their private matters when the town is not close by. Cultural activities such as concerts of classical music or museums tend to be loss making, unless you find good sponsors. The chateau can serve as a hotel if it is located near some historical or other point of interest. Or it must itself be the reason why people arrive.

Ideally the activities should be of the kind that can go on throughout the year. You can have there plastic surgery clinic, women appreciate that they can recover in the chateau and park environment where they would not risk meeting curious friends. Should your castle be close to a spa town you can take advantage of the infrastructure there and use local mineral sprig water in your hotel. Castles near the spa Trebon, where the peat is used to treat the joint diseases, there you can offer this treatment yourself using the local peat. Many castle owners adapt traditional castle tours and make them into a sort of theater performance.

Purchase a flat and rent it out

Purchase of an apartment with an aim to rent it out remains one of the attractive ways how to invest your financial means. In the capital Prague there are the highest rents in Czechia, at the same time the flat prices are the highest in country. In regional towns the average price of an 80 sq. meter apartments is 3.2 million CZK, in Prague you have to come up with 7.8 mil. CZK. That is nearly two and a half times more. However long term rent in Prague is also about two times higher than in regional towns. Prague offers higher liquidity of the apartment bought as an investment, should you decide to sell it. Should your main interest be rental income it would be more effective to invest in regional towns like Ostrava. There you can buy a new apartment for 2.1 million CZK, four times cheaper than in Prague, and you can rent it out for 12 thousand CZK per month - and that is only two times less than in Prague.

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