Study: growing number of Czechs buy property abroad

A growing number of Czechs are buying real estate abroad, the Czech News Agency reported on Sunday, citing a study by the real estate company Rellox. Czech clients are buying property mostly in Austria (47 percent), Croatia (20 percent), Italy and Spain. According to the study, they usually invest in studios, but they also buy houses and villas. Most clients, around 65 percent, use their foreign property as a holiday home and rent it out during their absence. Last year, Rellox recorded an 11-percent increase in foreign property investments compared to the previous year.