In many areas of the Czech Republic, especially Prague, real estate development accounts for a substantial portion of both domestic and foreign investment. Prague is the center of both commercial and residential development. Commercial real estate (especially shopping centers and mini-malls) is also being developed in all regional centers of many smaller towns. Development of logistics centers, which are very important in the Czech Republic due to its central location in Europe, is concentrated along main road transport arteries.
Despite the huge interest of investors in real estate development in the Czech Republic, completing such projects is not easy. At present, there are limited plots of land suitable for development, local government permitting is an extremely lengthy and complicated process, and last but not least, those plots of land that are available often have issues with legal title. Due to today’s tight employment situation in the Czech Republic, developers often experience problems with contractors keeping to construction deadlines and can face penalties from their clients. The help of an experienced Czech real estate lawyer is absolutely essential to success in this area.
rutland & partners’ real estate team consists of Czech real estate lawyers with over 25 years of experience on the Czech real estate market. We assure that issues relating to ownership, encumbrances, permits and environmental protection are discovered and addressed early in the process of due diligence. We also offer assistance throughout the construction process, starting with seeking modifications of zoning plans and representing clients in appeals of wrongful administrative decisions by municipalities.