Czech became independent on Jan. 1, 1993. It nestles between Poland to the north, Slovakia to the east, Austria to the south, and Germany to the west. For many, the Czech Republic consists almost exclusively of Prague, its capital and largest city. Much of the wider country is unexplored by foreign visitors, but the topography is extremely varied with the mountain region of Western Bohemia being particularly attractive.

Many of the Czech Republic's counterparts in Eastern Europe have more obvious natural tourist attractions such as coastal, lake side or ski resorts. The Czech Republic has Prague, one of the most beautiful cities in Europe. The architecture and ambience of the city is greatly appealing no matter what season and over recent years the capital's appeal has become more and more widespread bringing it well on the beaten tourist track.

However, for Prague and Czech Republic more broadly, it is not the tourist or second home industry that is driving the property market. Much of the market stimulation is internally generated and this is set to continue with the economic advantages brought by its recent EU membership. The economy has performed well over recent years and there remains a significant lack of housing stock. This means that the property boom is more likely to look like Britain's recent boom than Spain's.