12. April 2018
Jaroslav Waldhauser has been appointed the Head of Commercial Leasing at Svoboda & Williams. He will oversee further development of the company's activities in the sector of office, retail and warehouse space for lease.
During his 9 years at Svoboda & Williams, Jaroslav has gained a reputation as an expert in the field of commercial property leasing. “There is great potential for further expansion of Svoboda & Williams,“ says the new head of the department. "In recent years we have established ourselves as a significant player in the field of office leasing, last year alone we mediated almost 100 transactions. My goal is to further develop the activities of the Commercial Leasing department, to strengthen our position and to continue building a stable and successful team to be reckoned with in the market,” adds Jaroslav Waldhauser.
10. April 2018
Jana Volavková, a Senior Research Analyst at Svoboda & Williams, gave a talk at the Perspectives of Housing panel at the Real Estate Market > Spring 2018 conference. In her presentation called Premium Residential Market: Facts & Myths, she stressed that even in the times of high real estate prices, premium properties remain in strong demand.
The data collected by Svoboda & Williams reveals that the increase of the average price of Prague apartments is a result of the skyrocketing prices of mid-range apartments which have, according to available information, risen by as much as 50% during the last three years. In the same period, the price growth has been much slower in the premium segment, reaching about 24%, according to Jana Volavková. Nevertheless, the average sales price of "secondhand" apartments situated in Prague 1 is currently getting close to CZK 150 000 per square meter, in Prague 2 and 6 it´s around CZK 105 000 per square meter. Only in Prague 4, 9 and 10 the average sales price is below CZK 90 000 per square meter. Apartment prices in new residential projects are approx. 30-50% higher. The presented data is based on an analysis of a Svoboda & Williams sample, which only involves realized, i.e. not advertised prices.
A significant increase can also be seen in the Prague rental housing market. According to the Svoboda & Williams Rental Index, which has been developed in cooperation with the Faculty of Informatics and Statistics at the University of Economics in Prague, the prices in this segment have increased by 19.2% since the beginning of 2015. This new analytic tool can record the change of the price level more accurately than mere monitoring of the development of the average rental price. Moreover, it processes only data concerning realized rental transactions.
The growth of rental prices is a result of the increasing demand for rental housing among Czechs, which is, as Jana Volavková emphasized, caused primarily by the economic rise of millennials. This generation tends to be less interested in property ownership and favors the flexibility of rentals. Another important factor influencing the rental market is the rapid growth of sales prices of Prague apartments and the tightening regulations on mortgage loans imposed by the Czech National Bank.
21. March 2018
Based on exclusive instruction the Svoboda & Williams real estate agency has launched the sale of apartment units in the PRAGA Residence project. The architecturally unique building in the old neighborhood of Karlín, just a few steps from Karlín Square, offers a total of 43 stylish apartments with loggias, balconies or terraces. Six generously designed penthouses occupy the top floors of the residence, while the ground floor features 2 three-story townhouse apartments.
The nine-story PRAGA Residence with a large private garden is set at the foot of the green Vítkov Hill, on the site which was once home to the repair garage of the legendary PRAGA automobiles. The impressive new structure will be part of a mixed-use three-building complex, complete with a new pedestrian avenue linking Křižíkova and Pernerova Streets.
Featuring clean, timeless design created by the A.D.N.S. architectural studio, PRAGA Residence offers ideal 21st century housing – right in the heart of a vibrant city quarter with a unique spirit of place boasting an abundance of rich cultural and culinary establishments, yet with nature still close at hand. The project is being developed by the M2 Real Estate company.
Official website of the project: PRAGA Residence
20. March 2018
Based on exclusive instruction, the Svoboda & Williams real estate agency has launched the sale of apartments in the unique residential park Šárecký dvůr, which is rising in the most charming setting of a Baroque courtyard in a tranquil part of the Prague 6 city district. The project offers premium housing in a gated complex with a reception and underground parking. Šárecký dvůr is situated within reach of the Divoká Šárka nature reserve and, at the same time just a few minutes' walk from a metro station. The apartments in the project will be move-in ready by August 2018.
Consisting of a total of 51 premium apartments in an attractive residential park, the Šárecký dvůr project blends original Baroque architecture with 21st century design. The one-of-a-kind project will result from a complete renovation of what once was a farmstead with a history dating back to 1433. Alongside apartments with traditional layouts, the project also includes three-story apartments with impressive vaulted ceilings, duplexes with private gardens and generously designed penthouses.
Privacy and security of the residents will be maintained by an on-site reception as well as an original, protected stone wall surrounding the complex. The concept of the project and the exteriors were created by Bogle Architects, while the interiors come from the Chmelař architekti studio. The project is being developed by the CRESTYL group.
Official website of the Šárecký dvůr project
16. March 2018
The Svoboda & Williams real estate agency has received exclusive instruction to sell apartments in the Florian Residence, situated in the popular Prague quarter of Vinohrady, just a few steps from the Flora metro station. The residence will result from a sensitive reconstruction of a late Functionalist building.
The Florian Residence consists of 10 airy apartments in a building from the 1930s with elegant common areas and an elevator. It is situated in Vinohrady, just a few steps from a metro stop and the Atrium Flora shopping mall and minutes from the Jiřího z Poděbrad square. The building is currently under reconstruction, with emphasis placed on paying respect to the structure's original architectural style. Adjacent to the building is a courtyard which will undergo a thorough revitalisation and will include a garden and a relaxation zone with space for barbecuing and socialising.
The apartments in the Florian Residence have high ceilings and spacious layouts. What's more, many of them also boast balconies which face southwards into the above-mentioned quiet courtyard. The apartments on the top floors offer impressive views of the Žižkov neighborhood, including the green Vrch sv. Kříže hill and much more.
The Florian Residence is conveniently located on the border of Vinohrady and Žižkov and features easy access by both public transport and car. The surroundings offer a wide range of services and amenities, including an elementary school as well as a nursery in the Jiřího z Lobkovic square. Also in the immediate vicinity is an IMAX cinema, which has the largest screen in the Czech Republic, as well as the famous Erhartova cukrárna or the popular farmer's markets and a number of whimsical cafés and eateries in the nearby Jiřího z Poděbrad square. Several large parks including the popular Parukářka are just a few minutes' walk away.
15. March 2018
The basic construction of the U Pernikářky 7 residential project, situated in the lovely villa neighborhood of Hřebenka, has just been completed. The project offers premium apartments with balconies or terraces in a passive villa with an underground parking garage. Currently, in the elegant new building which is developed by JRD, the last 3 apartments remain for sale. The sale of the apartments in the U Pernikářka 7 project is exclusively mediated by Svoboda & Williams.
The U Pernikářky project is located on a southern slope under the Prague quarter of Strahov, in a luxurious setting of the Hřebenka villa neighborhood with a unique vibe of the 1920s and 1930s. Featuring a bold and distinctive architectural design, the project consisting of just 10 sunny apartment units offers a comfortable home amidst greenery.
The new building with attractive common areas, elevator and sauna for residents also boasts an underground garage, with the purchase price of each apartment including two parking spaces. There are only two elegant, airy and spacious apartments on each floor. Currently, merely 3 apartment units are available for sale, all of which have a three-bedroom layout. Triple-glass windows and an automatic ventilation system with heat recovery will secure a healthy interior environment and lower energy costs.
Thanks to its position on a dead end street with full-grown trees and city parks, the U Pernikářky 7 project offers peaceful housing with a high level of privacy and excellent sports & leisure opportunities. Petřín hill, the Kinsky garden and the popular Ladronka park which are all nearby are well-suited for long, tranquil walks. Another perk of the project is the easy access to the city center and other parts of Prague. The nearest public transport stop is just a few steps from the villa and a ride to the business & entertainment zone of Anděl takes only 7 minutes.
Final inspection of the project is planned for August 2018.
Official website: U Pernikářky 7
22. February 2018
The two-day event welcomed network owners and brokerage executives from North and South America, Europe, Asia and Australia to discuss trends and innovations in luxury real estate.
Christie's International Real Estate, the world's leading luxury real estate network, chose Buenos Aires as this year's global conference venue. The invitation-only event for network leadership, which took place at The Four Seasons Hotel included representatives of the Svoboda & Williams real estate company. "The agenda was rich in information relevant to the luxury real estate industry: online marketing, cybersecurity and how to anticipate opportunities in today's economic arena," says Dan Conn, Chief Executive Officer of Christie's International Real Estate.
"The conference offered useful insight into the latest global market trends, including detailed analyses of investor behavior. The good news for owners of properties in Prague is that the Czech capital enjoys a reputation as one of the most attractive cities in the world. Together with a stable economic and political situation, this renders Prague a perfect investment destination," says Veronika Krejcárková from Svoboda & Williams. "We managed to network with multiple other members of Christie's International Real Estate at the conference. This will enable us to present new foreign markets and regions to our clients."
Since September 2017, when Svoboda & Williams became the exclusive Affiliate of Christie's International Real Estate for the Czech Republic and Slovakia, the company added to its portfolio properties in Switzerland, France and Portugal. All these properties are listed by leading real estate companies, other Affiliates of Christie's International Real Estate. This real estate network has common ownership with Christie's, the world's leading art business.
14. February 2018
The Svoboda & Williams real estate agency has been appointed as the exclusive selling agent for the apartments in the Šárecký dvůr (Šárka Court) project, which will be set in a historic courtyard with an impressive gate. Surrounding a landscaped yard, five new residences will complete a meticulously reconstructed Baroque building. The project, situated within easy reach of the Divoká Šárka nature reserve, yet just a few minutes' walk from a metro station, will provide comfortable living in a gated complex with a reception and underground parking.
The Šárecký dvůr project will feature a total of 51 premium apartments situated in an attractive residential park, in which original Baroque architecture blends with 21st century design. The unique complex will arise through a complete renovation of what once was a farm yard with a history dating back to 1433. The project will - alongside apartments with ordinary layouts - include three-story apartments with impressive vaulted ceilings, two-story duplexes with private gardens as well as generously designed penthouses. The upper floors of the complex will feature intriguing views of the tranquil water surface of the Džbán reservoir and the lush greenery of the Šárka valley.
Privacy and security of the residents will be secured by an on-site reception as well as the original, protected stone wall surrounding the complex. An impressive Baroque gate evokes the long history of the place. Šárecký dvůr was designed by the renowned Bogle Architects studio, whose director, Ian Bogle participated in the construction of the iconic Swiss Re Tower (commonly known as the "Gherkin") in London. Interiors were designed by the Chmelař Architects studio.
"Šárecký dvůr brings about exceptional housing in a project which uniquely combines modern architecture with an original historic complex. We have decided to entrust the sale and marketing of the project to the Svoboda & Williams real estate agency, whose high level of professionalism is perfect for this premium project and which, as an affiliate of Christie's International Real Estate, is able to reach relevant clients all around the globe," says Viktor Peška, the Business Director of the CRESTYL group, the company that is developing the Šárecký dvůr project.
The apartments in the project will be move-in ready by August 2018.
12. February 2018
Immoreal Investment appointed Svoboda & Williams as the exclusive leasing agent for office and retail space in the Za Poříčskou bránou 6 & 8 building. The administrative building, created by connecting two houses from the the 1920's, is situated in a quiet part of Karlín, right by the Florenc subway station.
"Immoreal Investment addressed us, as - thanks to our well established brand and effective marketing - we are considered the leader of the market with office space for small and medium-sized enterprises (SMEs). The Za Poříčskou bránou building is simply a great choice for these kinds of businesses," says Zuzana Virbová from Svoboda & Williams, commenting on the newly gained exclusive mandate.
The building, which is to undergo a renovation in the near future consists of office and retail space featuring modern technologies in combination with the architectural style of the 1920's. The administrative building with a floor plate of roughly 400 sq.m. is situated in an attractive location in the city center, on the border of Prague 1 and Prague 8, right by the Florenc metro station (lines B and C) and next to the important brownfield around Masarykovo nádraží.
07. February 2018
At a time when their prices continue to soar, apartments in Prague still remain an interesting investment opportunity. Cyril Dejanovski, the Business Director at Svoboda & Williams, recaps some key factors to consider when investing in an apartment.
"The prices of premium Prague apartments have grown by approximately 30% over the past two years - the average price per square meter of the apartments in the Svoboda & Williams portfolio is approaching CZK 100 000. Even so, apartments in the Czech Republic's capital retain much investment potential," says Cyril Dejanovski. When purchasing an apartment with all cash, the yield may near 4.5%. In the case of the typical investment pattern of 30% cash down supplemented by a 70% mortgage, the return on equity may (given the current average interest rate of 2.2% and taking into account the factors influencing the net rental profit) reach approximately 12%.*
Along with the sale prices, the rental prices of Prague apartments have too been growing significantly. In newly built and newly renovated apartments in premium Prague locations, their growth has been copying the growth of sale prices. "In recent years, we have been recording a notable shift in clients' interest towards rental housing. This is a result of the growth of the economic significance of millennials, who are less ownership-oriented and prefer the flexibility of rental housing. Moreover, due to tightening conditions on taking out mortgages and the gradual interest rate increase, rental housing is for many becoming the only way to live in an apartment of the standard they require," adds Dejanovski.
The most interesting properties from the investment point of view are ones in Prague's city center and the wider central area as those are the most sought-after by potential tenants. However, an investment apartment must be chosen carefully. "According to our data concerning realised rental transactions, the actual rental price depends more on the apartment layout than on the floor area. A one-bedroom 50 sq. m. apartment is usually rented for basically the same price as a 60 sq. m. apartment of the same layout," explains Cyril Dejanovski. Acquisition costs of such apartments, on the other hand, may differ by as much as 15 to 20%.
"In the era of an ongoing shortage of quality rental apartments, the investor should consider whether it's worth paying extra for an apartment with a balcony, terrace, garden or garage. While these factors may lead to shortening of the period before the apartment is rented out, according to our data, they are not significantly reflected in the rental price," concludes Dejanovski.
* The net rental profit is calculated as 85% of the market rent. The figures reflect possible delayed rent payments, rental agency fees, maintenance, investment in furnishings, contribution to repair funds and rental income tax.