I can understand saying why flip, but with high ltv mortgages and the rise in the interest rates earlier this year and the Koruna, it is very difficult to obtain a self-financing investment.

I have thought though I might try and let my flat on the holiday/short break market although it is more hassle, the yield should be enough to cover the mortgage

Its possible to find older properties that will finance themselves, in Prague and elsewhere. New builds are considerably more expensive, but generally don't get much of a premium in rent. New builds tend to have a garage, which will add a bit to rental income. People renting tend to look for convenient location, especially in Prague, as there are quite a lot of nicer old buildings available already.

If you look outside Prague, yields can be much higher.