How to Choose the Best Residential Area in Prague
The territorial aspect of housing will play significant role in your decision-making even if you look for place for a short-term stay (let's say three months). This question assumes special importance if you consider moving abroad. In this article we will look at different residential areas in Prague what is likely to help you choose the right residential area for you.
Splendid and luxurious interior in Staré Město or Malá Strana
Historically foreigners preferred to buy real estate in the centre of Prague. Thanks to long-lasting interest of foreign investors in this area it has such appealing look nowadays. A number of foreign architects have stayed in Prague, therefore if your requirement is splendid and luxurious interior there are apartments to choose from especially in Staré Město or Malá Strana.
For example development company FIM group whose president is one of the most famous Italian investors Massimiliano Monferini has significant experience in selling residential real estate in these areas to foreigners. Among their most successful projects there are reconstructed objects in Masná and Míšeňská streets.
Thanks to rich experience in dealing with foreign clients the company has deep knowledge of their preferences and financial opportunities, namely optimal size of apartment (120-150 square metres), availability of garage (what is rarely possible in Prague 1), type of building (old reconstructed houses which have their particular atmosphere) and willingness to pay more than 100 000 Czech crowns per square metre in case of an exclusive project.
Popular localities Smíchov and Vinohrady
Other localities popular among foreigners include Smichov and Vinohrady. There could be different reasons behind such favorable attitudes towards these areas.
For example French people prefer Smichov mainly because of nearby French lyceum whereas high interest of Russians in this district is caused by such factors as closeness to nature, good transport accessibility and a large number of shopping malls and good restaurants.
Vinohrady is often considered by foreigners as a pleasant residential area. In addition to its nice atmosphere it is famous for its busy nightlife. Therefore if you are a person who is used to returning home from some crazy party at 3 o'clock in the morning when the intervals between night trams are usually 30-40 minutes and the metro is closed the district close to I.P. Pavlova is the best option to live in.
Nové Město should be also mentioned among residential areas popular with foreign clients. Housing prices stay stable because rich Czechs and foreigners maintain high demand and are willing to overpay for the opportunity to live near Vltava.
However this place will be suitable for you only if you like to be surrounded by bustle of city centre and do not mind firms occupying several floors in your building.
Not only Prague centre is the favorite place for foreigners' residences. Besides mentioned Prague 5 there are several locations which are popular with this group of customers (most of them have started to gain in popularity recently).
Although financial attractiveness (flat prices in Prague centre can be higher than those in peripheries by more than 2.7 times) can be a decisive factor in many cases foreigners are guided by other reasons.
For example being in immediate proximity to international schools or universities such districts as Nebušice and Prague 3 draw the interest of foreign clients with children. On the other hand Prague 6 is preferred by foreigners who care about the sale price of their apartments and want to have a good deal even a decade later.
Being situated close to Prague Castle and stunningly beautiful spacious park Stromovka and easily accessed by metro this district is unlikely to lose its value. If you want a luxurious apartment, do not be afraid to lack them in this residential area.
After developers had discovered that foreigners are interested in this district they started to build projects tailored to these customers' specific needs. In order to show that these new apartment buildings are on demand by foreigners let us look at Rezidence Kajetánka. According to its developer Mr. Bozner in May 2012 30 percent of foreigners were willing to buy appartments there.
For prices starting from 95 000 Czech crowns per square metre foreign clients were mostly interested in apartments 3+kk (kk - living room with a kitchen) of around 90 square metres.