28. June 2019
Agents of Svoboda & Williams have increasingly been coming across the claim that the average price of an apartment in Prague is currently almost CZK 110,000/sq. m. When real estate owners then sell their properties, they set astronomical starting prices that don’t seem to correspond to reality. Newspaper headlines proclaim these high numbers, but don’t explain the difference between the asking price and the actual achieved price.
According to the current data collected by Deloitte, the average asking price of a new apartment in Prague is CZK 107,100/sq. m. However, this figure only includes newly built residential projects and starting prices, which don’t include any reductions or subsequent special offers. In reality, the asking price is often quite different from the actually achieved price. This is doubly true in today’s decline in demand for real estate and the increasing rate of discounts offered by developers. Deloitte’s regularly published so-called Prague Real Index factors in the average price of a realized real estate transaction, which it acquires from the cadastre of real estate, and includes prices of older resale properties as well. In fact, the average actually achieved sales price is currently CZK 77,400/sq. m. This is the number that Prague apartment owners should consider when they are thinking about how much to sell their property for. Or even rent it out for, since this misunderstanding of the market also influences how property owners establish adequate rental prices.
The Svoboda & Williams real estate agency maps the premium property segment, which has a higher average achieved price – currently around CZK 112,000/sq. m., with a median value of CZK 103,000/sq. m. Properties at the very top of the real estate pyramid are significantly pushing average prices upward.
23. June 2019
Construction of the U Hájenky residential project has commenced on a plot of land near the Lipno Reservoir. On this previously empty meadow, 15 modern houses inspired by typical Šumava cottages that will consist of two separate apartment units with a terrace and garden will gradually be built. The exclusive seller of the apartments is the Svoboda & Williams real estate agency.
The U Hájenky apartments will allow new owners the chance to live amid the beautiful South Bohemian countryside right next to the popular Lipno Reservoir and only 100 meters away from the new Loučovice ski slope. These apartments can be used and enjoyed year-round, and are therefore an excellent investment opportunity. The U Hájenky project also offers property management services that include taking care of any rental responsibilities as well as grass cutting and snow clearing.
The individual eco-friendly passive semi-detached houses are built according the Austrian STEICO construction system with a maximum emphasis on a healthy environment for future residents. Each house will feature superior insulation properties. The units are sold in a finished state, which can be upgraded to a premium standard.
More information about the U Hájenky project.
12. June 2019
The Svoboda & Williams real estate agency has been exclusively retained to broker the sale of apartments in the U Hvězdy Residence, a new project emerging in a peaceful part of Prague 6, only a few steps from Hvězda, Prague’s largest forest park. The building, equipped to a high standard, boasts a timeless architectural design and an excellent location. Construction began in March 2019.
The newly emerging residence offers housing in close proximity to the Hvězda game reserve in an area with excellent civic amenities and easy access to the center of Prague. Spread out over three floors, it will consist of 15 units with one-bedroom to three-bedroom layouts and floor areas ranging from 44 sq. m. to 140 sq. m. All of the apartments will have a terrace or front yard, and residents will have access to an attractively landscaped common garden. Large-format windows flood the interiors with plenty of natural light and views of the surrounding greenery can be seen from every room. Each apartment will come with a cellar unit and the building includes 25 parking spaces in an underground garage.
The low-energy project features modern building materials and technologies, such as heat recovery in the apartments, high quality aluminum windows, and premium thermal insulation, all of which significantly decrease energy costs. The third level, in the attic, is under a reinforced concrete roof, which helps maintain the same stable temperature as the lower floors.
The U Hvězdy Residence is exceptional for its closeness to the Hvězda game reserve as well as to the expansive Divoká Šárka Park. Residents will be able to enjoy an urban lifestyle within easy reach of nature and the countryside. The surrounding area offers many sports and relaxation activities, and green spaces ideal for peaceful walks. Families with children will appreciate the residence’s proximity to several parks as well as to kindergartens and elementary schools. Shops, a post office, a pharmacy, and a library are all within walking distance. Tram and bus stops can be reached on foot in ten minutes, and the Petřiny metro station in 13 minutes, guaranteeing quick access to the center of Prague.
Final approval is planned for October 2020. The units will be sold in complete state.
11. June 2019
The first year of the professional conference entitled Real Estate Forum Brno 2019 took place on June 10th at the Hotel International. Its central themes were current real estate market trends, transactions, how the Brno Zoning plan will transform the city, and up-and-coming residential projects. Representatives of Svoboda & Williams, one of the main partners of the conference, delivered a presentation in the “Real Estate Market Status and Trends” block and participated in all panel discussions. The entire conference was moderated by Jiří Václavek.
The first to speak in the opening block of the conference was Svoboda & Williams’ main analyst Jana Volavková. Her presentation, “A Perspective on the Premium Residential Property Segment in Brno,” included, among other difficult issues that the market in Brno is presently experiencing, the current trends in the premium segment. She summarized Svoboda & Williams’ findings and statistics about the premium real estate market in Brno, which has enormous potential for growth.
Just like in Prague, the interest in luxury properties is also very high in the second largest city in the Czech Republic. According to the agents of Svoboda & Williams, the supply of this level of housing in Brno is insufficient. If a developer could manage to realize a high-end residential project, the units and space within it would all be successfully sold. In order to guarantee this outcome, however, the right marketing strategy is key, as Prokop Svoboda, owner of Svoboda & Williams, emphasized in his concluding presentation. Clients in Brno are motivated to purchase properties in Brno by their interesting rental revenues, which are currently around 4-5%.
In the remaining blocks and presentations, representatives of other companies focused on questions concerning the current situation in the Brno residential and commercial property market. Ludvík Juřička from the Havel & Partners law firm touched on the amendment of the Building Act, and Milan Dembowski discussed different ways to finance properties from the perspective of Komerční banka. Lukáš Netolický of Cushman & Wakefield spoke about the office market in Brno, and his colleague Radka Novak’s presentation was on the workplace environment and how to improve it.
The conference concluded with a segment on what the future will bring in terms of the new zoning plan as Filip Chvátal, a Brno city council member, elucidated, as well as in terms of the possible transformations of dilapidated buildings and brownfields. Omar Koleilat from the Crestyl real estate development company focused on the Tesco building in Dornych and presented his vision of how this area could be changed into an architecturally unique multifunctional complex. Finally, Milan Kratina from the Accolade group revealed their plans for the Brno airport.
09. June 2019
The rough construction of the Na Petřinách 7 villa, situated in a sought-after location between Petřiny and Břevnov, is currently complete. Now is a good time to see with your own eyes what living there can be like and what views the apartments have to offer. The Svoboda & Williams real estate agency has been exclusively retained to broker the sale of the units in the residential project.
The apartments have an extra high ceiling height and the large-format aluminum windows are now being installed. The interiors are starting to emerge, giving visitors an impression of how much light each room receives and allowing them to select their preferred variation.
The project consists of 13 apartments with a terrace, balcony, or private garden in a low-energy building realized by the All New Development boutique company and the SUNCAD studio.
Please contact our office to schedule a viewing.
More information about the Na Petřinách 7 project.
31. May 2019
The myhive Flexi Offices concept by Offices Unlimited extended the range of Prague's serviced offices in May 2019. It offers furnished offices with flexible rental periods, reception support, conference rooms, coworking and other premium services in the Prague's district of Pankrác. The Svoboda & Williams real estate agency has been exclusively authorized to provide the administration and marketing of the new serviced offices and it officially started the operation of the myhive Flexi Offices on 30 May 2019.
For the implementation of the Flexi Offices concept, fully equipped offices on the first floor of the myhive Pankrác House, belonging to the Austrian company IMMOFINANZ and located directly opposite the Pražského povstání metro station, were selected. The ideal location ensures easy access from both the city centre and the D1 highway exit. The building includes a restaurant, a spacious lobby with a café and a reception, a garage, bike storage, showers, and an exercise room.
The space of 1547 m2 offers 36 equipped offices from 11 to 50 m2 and coworking of 95 m2. Those who need their own space can choose from two types of offices - daily and private. Directly on the first floor, there are 2 meeting rooms, a meeting room for clients, and a larger conference area on the ground floor. Office facilities include a reception, two kitchens and bathroom facilities. The interior features paintings that renowned Czech painter and sculptor Petr Písařík created especially for Flexi Office.
The main advantage of the Flexi Offices concept is its flexibility in terms of layouts and lease terms. Tenants can pick the office they need without being tied to a long fixed-term lease.
More about myhive Flexi Offices.
More equipped offices in Prague.
21. May 2019
The Svoboda & Williams real estate agency has been exclusively retained to broker the sale of apartments in the Hradešínská residence – a new luxury residential project with a singular genius loci. The construction of the residence is nearing completion, with 40% of the units already sold. Generously apportioned, mostly family apartments with parking spaces are still available.
The Hradešínská Residence is being realized by the A.K.F. Projekt company. It is located in Královské Vinohrady, a neighborhood with a unique 1930s atmosphere. A total of 13 premium apartments will be move-in ready this summer, allowing new owners to start enjoying their new homes during the nicest time of the year, whether on the terrace with a glass of wine looking out over gorgeous villas, or in nearby Grébovka Park, where you can easily find the perfect spot for peaceful relaxation.
Please contact our office to schedule a viewing.
More information about the Hradešínská Residence project.
16. May 2019
The Svoboda & Williams real estate agency has been exclusively retained to broker the sale of two penthouses that crown the iconic V Tower, Prague building. In partnership with Christie’s International Real Estate, these high-end apartments will be brought to the attention of potential buyers around the world.
The Prague panorama now has a new addition in the shape of a “V.” Built by PSJ Invest, the V Tower, Prague high-rise building is unlike any other project built in Central Europe. With a dizzying height of 104 meters, it is now the highest residential building in the Czech Republic. Due to its cutting-edge technologies and careful construction, it bears comparison with prestigious skyscrapers in New York, Dubai, or London. The building was designed by architect Radan Hubička, who consulted with experts from around the world to come up with a structure that far surpasses European standards. It is planning on achieving LEED Platinum certification, which emphasizes respect for the environment, comfortable living, as well as operational efficiency.
The distinctive V-shape of the V Tower, Prague skyscraper ensures that each floor is unique. With each meter, new perspectives open up and infinite spaces and views are created. The topmost multi-level penthouses have their own terrace, a rooftop pool, and boast stunning views of the city of a thousand spires. Each unit is offered in a state of white walls, allowing future owners to select the surfaces, kitchen, and other equipment. The skyscraper was also designed and constructed with a maximum emphasis on noise-reduction: each unit has graphite ceiling cooling panels and silent underfloor heating, and the walls between the apartments are built to reduce noise within the units. The façade was designed on the basis of a noise study of the surrounding area and special asphalt was laid around the building.
Hotel-style concierge services such as those found in premium residential projects in New York or London add a luxurious touch of comfort. V Tower, Prague residents will also have access to a private club, which takes up an entire floor and includes a wellness area with a sauna, Jacuzzi, swimming pool, fitness room, as well as a children’s corner and conference rooms. This building also houses a private movie theater with a high-end audio system and a professional grade golf simulator.
Only a small fraction of the properties in the Czech Republic can compare to luxury residences abroad. Thanks to Svoboda & Williams’ exclusive partnership with Christie’s International Real Estate, the V Tower, Prague penthouses will be advertised worldwide and reach potential buyers on a global scale.
14. May 2019
The construction of the timeless PRAGA Office & Garden administrative building is continuing successfully and has now reached the sixth and highest floor. Svoboda & Williams has been exclusively retained to broker the lease of the newly emerging offices located in the oldest part of Karlín.
The PRAGA Office & Garden building, designed by the ADNS studio and realized by the M2 Real Estate development company, is part of the multifunctional PRAGA complex. It will offer a total of 2,000 sq. m. of modern office space. Thanks to its glass northern façade, the interiors will receive an abundance of natural light and boast views of the peaceful courtyard garden. The complex is located only a few steps away from Karlínské náměstí Square at the foot of Vítkov Hill. The neighborhood is not only full of greenery and pleasant restaurants and shops, but is also easily accessible from the center of Prague.
The offices will be available from Q2 2020.
More about PRAGA Office & Garden.
13. May 2019
Earlier this spring, Svoboda & Williams added several new faces to its team. The Marketing, Property Management, and Residential Rentals departments all welcomed new members, and the Prague office has a new receptionist.
Sára Goldbergerová, a graduate of the Faculty of Humanities at the Charles University, is the newest member of the Marketing team. She has been a copywriter for Svoboda & Williams since the end of 2018, and became its PR Manager in March 2019.
The Property Management Division hired Jana Rýznarová and Ilona Fanfrdlová, both to the position of Senior Property Manager. Jana studied English and Applied Economics at the Palacký University in Olomouc, and she speaks French and Italian. She has been working in real estate for more than 3 years. Ilona acquired a Master’s Degree in Public Policy and Human Resources from the Masaryk University. For 9 years, she was in charge of Facility Management for the British Embassy.
The new Letting Representative in the Residential Rentals team is Andrea Hladíková. She is a graduate of the University of Economics in Prague and she holds a diploma in the Principle of Interior Design and Decoration from the London Inchbald School of Design. She helped found the VIP Photo Booth company, based in South Africa, where she worked as Business and Marketing Director.
In April, Barbora Šudomová became the main receptionist in our Prague office. She studied Hotel Management and Tourism, and lived for a time in Italy, where she learned to speak Italian fluently.