Real Estate Investment in Europe

• The process of buying a property in the Czech Republic is relatively simple in terms of its administration before the Land Register and it lasts usually around one month to process it from the day of filing an application to the Cadastral Office.

• Pursuant to the Czech Civil Code, the acquisition title (e.g. a purchase agreement) for the transfer of real estate requires a written form
  
• Registration of the transfer of ownership in the Land Register is performed on the basis of filing an application to the relevant Cadastral Office and paying an administrative fee.
• In addition to the aforementioned written form requirement, the acquisition title (such as the purchase agreement) must also comply with other statutory requirements

The proceedings before the Cadastral Office usually last for approximately 1 month, mainly because the authorities must inform the current owners that the property is affected by an ownership change prior to performing the transfer and provide for a sufficient period of time before the transfer can be performed. This statutory period is set by the law for 21 days.
Following are some of the important points why online selling/buying of the property is better.
It saves their money as there is no third party involved.
It’s safe since you don’t go out and expose yourself to people during the pandemic.
Saves time as otherwise, meetings can take hours.
Online Virtual (3D) tours, drone videos, and pictures can help people to make better choices.
While mentioning the ways to deal with your property, it’s also pertinent to mention here changes to the European real estate investments. Keeping in view all the analyses and reports, the overall market environment remains highly uncertain. Currently, according to some expert reports the residential market remains to be more resilient with the order of magnitude of the decline in the valuation of 5%, followed by offices 10% to 20% and retail real estate up to 30%. With different governments now relaxing the lockdown and restrictions getting loosen down, Europe’s housing market may show signs of life.