09. October 2019
The timeless family houses of the Dobřejovice Villas residential project offer pleasant living in a peaceful location close to Prague, surrounded by nature and close to full urban amenities. The residences successfully received final approval in September and are currently move-in ready. The Svoboda & Williams real estate agency has been exclusive instructed to mediate their sale.
The Dobřejovice Villas residential project consists of 5 spacious family houses, each with a southwest-facing garden and three terraces. The houses, which were designed by architect Miroslav Gebas, have been successfully completed and approved, and so it’s an ideal time for potential buyers to explore them. Each house is equipped with high-quality facilities that fit the project’s elevated standards and includes large-format French windows, three-layer wooden floors, terraces with pinewood surfaces, top-class sanitary ware, and doors with concealed hinges. The Dobřejovice Villas also feature a distinctive interior design, which is helped by their saddle roofs with large skylights. The village of Dobřejovice and its surroundings offers many opportunities for sports and relaxation—a bike path goes right by the villas and Průhonický Park is only a short walk away. Prague is easily accessible, as is the D1 highway.
Please contact our office to schedule a viewing.
More information on the Dobřejovice Villas residential project.
02. October 2019
After a quiet summer season, the Svoboda & Williams real estate agency once again expanded its staff. The Property Management and Marketing departments as well as the Analytics Team all have new members, and new colleagues have been welcomed in the Residential Sales, Residential Rentals, and Commercial Leasing departments.
New Senior Property Manager Petra Řehořková began working in the Property Management Department at the beginning of September. She is a graduate of the University of Economics, Prague with a degree in Business Economics and Management. She has extensive experience in real estate management and worked in this capacity for 2 years in Bohemian Estates. Petra is also well versed in financial analysis. Pavlína Paštová has been our new digital marketing specialist since September. She has a degree in Anglophone Studies from the Metropolitan University Prague and previously worked as a Social Media Manager in GLAMI. This October, Pavel Zadina joined Svoboda & Williams as the agency’s new analyst. He recently held the same position at the Arendon Development Company. Pavel graduated from the Czech University of Life Sciences Prague and lived in Iceland for several months.
The Residential Sales team also expanded at the end of the summer. Jana Kociánová joined the team as a Sales Representative. She studied international business and international relations at the University of Economics, Prague. In addition to English and German, she is an advanced speaker of French. For the last three years, she worked as a marketing manager and also spent several years working in interior design. Kelly Buiová is the newest Letting Representative in the Residential Rentals Department. She has a degree in Human Resources from Newton College Prague and previously worked in production and business development before joining Svoboda & Williams. Aneta Krubnerová recently began working in the Commercial Leasing Department. She studied journalism and new media at the Academy of Journalism, and is an experienced editor and copywriter.
Ester Macháčková is the new receptionist at myhive Flexi Offices, managed by Svoboda & Williams. Ester speaks English and Vietnamese, and has worked as a makeup artist and English teacher.
26. September 2019
The 20th annual international conference CEDEM 2019 took place on September 25th at the Slovanský dům in Prague. The Svoboda & Williams real estate agency was one of the more than two dozen participants that took part in its 6 panel discussions, focusing on the hottest topics and trends in the current Central and Eastern European real estate market across all segments.
The experts addressed the current state of the global economy, which many find difficult to grasp due to recent changes. Despite a number of negative factors, such as Brexit, a stagnant industrial sector, and the overall slowdown and uncertainty in global markets, economists in the Czech Republic are not expecting a major recession or real estate prices to fall significantly. In fact, they are projecting prices to rise further. One of the topics discussed by the panelists was the great potential of rental housing in Prague. With rising property prices, fewer and fewer people can afford to live “in their own place.” However, Prokop Svoboda, owner of Svoboda & Williams, pointed out that this is a natural development that does not necessarily have to be negative. Svoboda believes the greater threats to be the mortgages that a large part of the population will be saddled with as well as rent regulation. The current situation, when owning residential property in Prague is becoming a luxury, reflects a well-balanced Czech real estate market. Any direct interference could tip it in the wrong direction.
12. September 2019
The Svoboda & Williams real estate agency has been exclusively appointed to broker the sale of the unique Chateau Žinkovy, surrounded by two large ponds and a well-maintained forest park. The building, a significant example of Late Historicist palatial architecture in the Pilsen Region, will also be presented in the portfolio of Christie’s International Real Estate.
Chateau Žinkovy’s vivid history goes back to the 12th century. Originally, the 188,445 sq. m. property held a fortress that was surrounded by a moat and was later rebuilt as a castle. Several influential Czech families called Chateau Žinkovy home at one time or another. In the middle of the 15th century, for instance, it was owned by the lords of Klenová, who oversaw its first significant reconstruction. Ownership then passed from Prince Lobkowitz to Count Jan Nepomuk Harrach and then to the knights of Wesselý, who hired the Viennese architects Fellner and Helmer to create a fresh, Neo Renaissance look for the castle. Its final owner before it was taken over by the state after the Second World War was the Škoda family. Since 1950, Chateau Žinkovy has served as a sought-after recreational and rehabilitation center overseen by the Communist Revolutionary Trade Union Movement, and in 1963 it was declared a cultural monument. It remained under state ownership until 1999, when it was bought by Crown Estates. The chateau was gradually renovated until it acquired the form and appearance that we can admire today.
Besides the chateau’s main building, its grounds include a reconstructed administrative building with a restaurant, a conference room, a reception, office space, and 4 apartment units. There is also a partially renovated farm building and 12 bungalows, half of which have been refurbished. The mill and granary can be turned into a restaurant with accommodation. Thanks to its size and disposition, Chateau Žinkovy is an ideal place for holding weddings, conferences, and other company or private events.
Chateau Žinkovy not only has a rich history, but it is also fabulously located amongst pristine nature. In close proximity to its almost 19 hectare estate, you will find the Žinkovský and Labuť ponds. It’s entirely surrounded by a beautifully maintained forest park with an English garden and the area also offers many hiking paths, including the popular Svatojakubská trail. The deep forests of Šumava are nearby. Pilsen and parts further west, including Germany, can be comfortably reached by car. Another surprising fact that adds to Chateau Žinkovy’s overall charm is that its living area of almost 12,000 sq. m. makes it one of the largest privately owned castles in the Czech Republic and Slovakia. All of this together with its unmistakable spirit of place ensures that it will be one of the most standout properties in the portfolio of Christie’s International Real Estate.
More information about Chateau Žinkovy.
12. September 2019
At the end of the summer, construction work commenced on the second phase of the Trio Harrachov project, which is beautifully situated in the heart of the Krkonoše Mountains. Units in the Amálie and Beáta apartment houses are now on sale and the project’s exclusive agent is the Svoboda & Williams real estate agency.
The Trio Harrachov alpine residential project consists of three five-story residences situated in a peaceful valley of the Kamenice River. Together with the start of construction work on the second phase of the project, the sale of apartments in the Amálie and Beáta apartment houses has been launched. Both houses together contain 30 apartments with one-bedroom to two-bedroom layouts that face either south or southeast. The units will be sold in a finished state that is completed to a high standard and will offer lovely views of the picturesque Krkonoše countryside. The completion of the two remaining residences is scheduled for December 2021.
More information on the Trio Harrachov project.
10. September 2019
The Nile House office building, which offers 19,000 sq. m. of administrative space, is now fully occupied. The Svoboda & Williams real estate agency, which mediated the lease of 2,952 sq. m. of office space for the C2H Equity investment group, helped make this possible. The headquarters of this important Czech company recently moved from Holešovice to Karlín.
The C2H Equity holding company, a parent company with three subsidiary investment groups, plays a significant role primarily in the Czech and Slovak fashion markets. In 2017, it bought a majority stake in the Pietro Fillipi brand. Six months later, its investment portfolio expanded to include Kara, a leather clothing and accessories brand from Trutnov, and this May it signed a five-year affiliation agreement with the French lingerie company Etam. Besides the fashion industry, the company also invests in real estate, technologies, and innovative projects. It owned a share in the Liftago startup, which it successfully sold this January, and is an investor in the company that manufactures Favorit Czechoslovakia bicycles. “C2H Equity’s growth was one of the reason that the company began to look for a new office,” says Sylva Turinská of Svoboda & Williams, who mediated the transaction.
Interior designer Simona Fritz is the author of the company’s unique offices. She decided to add statement upholstered furniture pieces or artwork by contemporary Czech and Slovak artists to make C2H Equity’s new headquarters more distinctive. The result is a unified space with a client zone, conference room, and offices. The Nile House building, which is part of the River City administrative complex, has a pleasant atmosphere. It was built by the Austrian CA Immo Real Estate Management company, an important office building developer. Nile House is one of the company’s most successful projects—it was the first building in the Czech Republic to acquire the prestigious LEED Platinum certification. It therefore adheres to strict demands for energy efficiency, uses a higher percentage of renewable energy sources, ensures good air quality, implements water saving measures, and uses more recycled materials.
08. September 2019
At the beginning of August, the announcement of the Danish Jyske Bank, which decided to offer a ten-year mortgage with a −0.5% interest rate to potential homeowners, resonated throughout the global financial market. At the same time, Nordea Bank unveiled its offer of a twenty-year home loan with a zero interest rate. If foreign financial institutions are slowly starting to go down this path, we can expect to see similar practices in the Czech Republic.
Upon examination of these negative interest rates, things might not be so black and white once all of the bank charges and fees have been added. Jyske Bank itself emphasized that this type of mortgage is not intended to finance an entire property. But the fact of the matter is that interest rates on loans continue to decline, even in the Czech Republic. If the surrounding markets will follow the worldwide trend of zero or sub-zero interest rates, the Czech National Bank (the local regulator) will have a hard time resisting them. And as interest rates decrease, real estate prices are likely to increase.
But there are two sides to every coin, and this is true for negative interest rates as well. As mortgage interest rates go down, banks will increasingly demand better collateral, which will have a negative impact on demand. This development in capital markets indicates that well-secured home loans with negative interest rates are gradually becoming a safe investment.
03. September 2019
The U Rajské zahrady 18 residential project, which consists of the reconstruction of a classic Vinohrady apartment building, offers premium living in a popular Prague neighborhood on the border of Vinohrady and Žižkov. The 2 remaining apartments, which are sold exclusively through the Svoboda & Williams real estate agency, are still waiting for their new owners.
The meticulous renovation of the building was carried out according to the designs of SBORWITZ Architekti. Thanks to the architects’ ingenuity, the U Rajské zahrady 18 residence has a unique and charming atmosphere, underscored by a decorative stucco facade and sumptuous common areas, which boast sandblasted glass, wrought iron railings, and handmade tiles. The final 2 remaining units, both with 2-bedroom layouts and large floor plans, are completed to a high standard. In the near future, residents will be able to purchase a parking space.
Please contact our office to schedule a viewing.
More information about U Rajské zahrady 18.
15. August 2019
The Svoboda & Williams real estate agency has published its third Market Report. The recent developments in the premium segment of the Prague residential property market are once again summarized in a practical overview, together with key trends in the first half of 2019.
The Market Report analyzes the data on sales and rental transactions that are generated by the activities of the Svoboda & Williams real estate agency. Together with property sales figures from the cadaster of real estate with parameters that fit into the portfolio of Svoboda & Williams, we developed a comprehensive overview of the current sales and rental prices on the Prague premium residential market. The price analysis also includes a summary of the demand and supply of properties in this segment of the market as well as commentary from agents of Svoboda & Williams. The Market Report has a section entitled Focus, which examines various topics associated with the real estate market. This time, its subject is Nusle – a neighborhood that is currently undergoing a major transformation.
Svoboda & Williams noted the following trends in the premium residential segment in the first half-year of 2019:
- demand is stagnant and is returning to the level prior to the outbreak of the purchasing euphoria of 2017
- average achieved prices of premium apartments have stayed more or less the same as in 2018
- prolonged approval processes, an insufficient construction workforce, and rising construction prices continue to slow down the completion of new residential projects
- almost half of the monitored projects are reconstructions of older apartment buildings
- demand continues to be strong
- the achieved rents of premium apartments increased slightly, year-on-year growth was 3.8%
in Prague, rental yields are 2-3% and are even higher in Brno and the countryside
- Czech tenants are increasingly moving up into higher price segments and are slowly catching up to foreigners
the number of rental housing projects rose only slightly
A detailed analysis of sales prices and rents on the Prague premium property market based solely on realized and not offered prices is a traditional component of the Market Report. For this purpose, Svoboda & Williams created the analytical tool The Rental Price Index by S&W + VŠE in cooperation with the Faculty of Informatics and Statistics, University of Economics in Prague.
Svoboda & Williams Market Report | H1 2019 download here (pdf)
12. August 2019
Construction of the Na Petřinách 7 apartment building is continuing successfully. Svoboda & Williams has been exclusively retained to mediate the sale of the apartments, the interiors of which are currently where work is proceeding in full force.
In each unit, underfloor heating is being installed and the floors are getting ready for laying down BOEN wooden floors. Now that the walls and ceilings are newly plastered, the generous clear height of the interior spaces is even more noticeable.
Please contact our office to schedule a viewing.
More information on the Na Petřinách 7 residential project.