Non-EU residents to be allowed to own Czech land

The Czech Republic is likely to approve a low allowing non-EU residents to buy and own land in the country. The currently existing law allows foreign investors to own land only through a company. "People from outside the EU will welcome this amendment. We expect a lot of interest in middle and high-end properties," said King Sturge’s analyst Ondrej Novotny. Others, however, are skeptical that there will be a rush as the price of land in the Czech Republic is relatively higher than in non-EU countries. "It is nonsense to think foreigners will wait on queues to buy our land," said Jiri Fajkus of Real Spectrum: "Had someone wanted to invest here, they could have done it already through companies or individuals."