Prague penthouse
The Czech Republic property market has begun to boom

There’s a Prague penthouse on the market which is the perfect city love nest – what’s more it’s priced to sell in a Czech market that’s waking up from a long sleep. Glynn Evans, managing director of selling agent Ibiza Sotheby’s International Realty, comments: “Like much of the western world, the Czech Republic property market was suppressed for many years but it’s turned a corner and begun to boom. Banks are lending, interest rates are at a record low, house prices have fallen on average 20%, and the pent-up demand accumulated in the ‘hibernation’ period is making itself known.

Seduced by more reasonable prices, investors are back and things are looking very optimistic for 2015. Capital city, Prague, has already seen a small two per cent house price increase and a daily publication recently reported that developers sold 6,000 new-build apartments in Prague last year – more than the pre-crisis year of 2007 – with every sixth flat going to a foreigner.”

Set in the petite, leafy ‘Prague 2’ district

Glynn continues: “This particular penthouse is the third property in our portfolio from the same vendor – the others being a country retreat in Ibiza and a decadent mansion in South Africa – and they’re all immaculately presented with not one penny spared when it comes to home automation, interior design and quality of fixtures and fittings. The Prague home was fashioned from six apartments spanning the two top floors to form a big loft-style townhouse overlooking the City. Currently on the market for less than the cost of build and furnishing, it’s perfectly suited to a bachelor, actor, artist or couple who like to entertain. A few tweaks, and it would also cater to family living.”

Prague penthouse
This property is set in an art nouveau building with views over Prague Castle

Set in the petite, leafy ‘Prague 2’ district, this location has the advantage of easy access to the centre as well as having its own identity characterised by trendy restaurants, parks and green space – more light and air than popular but crowded ‘Prague 1’. Prague has transformed over the past 15 years into a stunning cosmopolitan city that has everything you’d expect from, say London, but with an out-of-this-world beauty to match. From coffee shops to bistros, including renowned Boulangerie Paul from Paris, the culinary offering is excellent with a cost of living massively undercutting the major northern European capitals.

A grand staircase

Located in an art nouveau building with panoramic views over Prague Castle, the largest ancient castle in the world, this penthouse is centrally located in a high-end residential area next to Namesti Miru Square which is dominated by the pretty Church of Ludmila. Offering vast entertaining spaces and natural light throughout, the property is distributed over the top two levels interconnected by a grand staircase.

The home has two bedroom suites, an elegant office, additional bathroom, open-plan reception and dining room, a lounge with fireplace and fully-fitted kitchen with state-of-the-art appliances. Furnished and decorated with exquisite taste, a long list of antiques and objets are also for sale.

The property has three-bedrooms, three-bathrooms with a built area of 385m²

Price – €936,000 (approx £700,000)

Contact Ibiza Sotheby’s International Realty via the site: