By Tim Crighton

There is no doubt that Prague is the most developed, and also the least "Eastern" European city I have seen so far in Central and Eastern Europe. It is also the most beautiful. But as investors should invest with their head and not their heart, I won't dwell too much on that one!

Even so, Prague is definitely more of a "head" investment given it's a capital city and within one of the best performing economies in Europe (if not the world).

However, it's clear that the days of investments being found all over the city are over and good quality new (or refurb) developments are both hard to find and becoming more expensive - local knowledge is paramount in this city to find a good deal.

A local told me that the Czech Republic considers itself to be Central Europe (rather than categorised as Eastern Europe) and I would agree that the country does indeed have a much more Western feel to it than, say, Sofia. In fact, thinking about it further it's more of an international feel.