Foreigners are quickly realising that the Czech Republic offers the ideal new home, according to the latest figures.

Bohdana Hola from the Czech Statistical Office (CSU) revealed that almost 310,000 foreigners have relocated to the country and they are mainly attracted by the region's favourable social and economic conditions.

The first nine months of 2006 saw a strong increase in the number of people opting to move to the country. Foreigners now make up a total of 2.5 per cent of the country's population and provide essential overseas investment in the local economy.

It is estimated that by the end of September a total of 131,884 foreigners lived full-time in the Czech Republic - 21,286 more than in 2005. In addition, 149,652 foreigners with permanent residence permits now live in the country and a total of 26,562 foreigners hold visas allowing more than 90 days stay.

CSU deputy director Stanislav Drapal said: "Initially, the Czech Republic was a transit country for foreigners, but it is now becoming a country of their destination. Foreigners come here to remain and they are led not only by political, but also economic reasons."

The majority of foreigners have opted to live in the main city of Prague and now make up around 7.5 per cent of the region's residents. However, there are growing numbers of people who are taking advantage of favourable real estate prices in other areas of the country and choosing to live outside the capital city in smaller towns and more rural locations.