The Czech Republic has one of the longest and most complicated building procedures in the world and is ranked 156 out of 190 countries observed by The World Bank. Fortunately for real estate developers, the situation is slowly changing. Erwin Hanslik MRICS, Partner and CEE Head of Real Estate at Taylor Wessing talked to us about the legal and regulatory challenges investors and developers need to face in the Czech Republic.

While most tertiary-educated adults in the Czech Republic hold a master’s degree, their employment advantage over those with upper secondary or post-secondary non-tertiary education is among the lowest across OECD countries. Total expenditure on primary to tertiary educational institutions is relatively low in the Czech Republic. Similarly to other OECD countries, the large majority of funding is publicly sourced. Teachers’ salaries in the Czech Republic are among the lowest across OECD countries and consistently below those of tertiary-educated adults at all levels of education. Vocational upper secondary education is attractive in the Czech Republic: Almost 7 out of 10 uppe secondary graduates obtained a vocational qualification in 2017 compared to 4 out of 10 on average across OECD countries.