The number of people choosing to live and work in the Czech Republic has increased significantly in recent years, according to a report published by the country's ministry for labour and social affairs.

Approximately 194,000 foreigners were working in the country by the end of March this year the department stated, compared with 108,000 in 2004 when the country joined the European Union (EU), reports the Czech News Agency.

The country's decision to join the EU is cited as the main reason for this growth in the number of foreigner migrants, particularly those from Slovakia, choosing to work in the country – a trend which may be of benefit to those considering purchasing a property in the republic.

Daily newspaper Mlada fronta Dnes recently stated that the price of flats and apartments in the Czech Republic had increased by ten per cent since the end of last year, with demand from foreign investors seeking properties in the capital of Prague rising significantly, the Prague Daily Monitor reports.

According to the newspaper, investors are attracted to the country because EU citizens can take out bank loans for property purchase and it has one of the lowest base rates of interest in the union.

Investors have also been able to capitalise upon strong demand from domestic buyers, while the rental market in the country's larger cities has had the potential to provide good yields and capital growth, Amberlamb reported recently.