10. May 2019
In early May, representatives of the Svoboda & Williams real estate agency met with a delegation of the International Monetary Fund. The meeting was part of an Article IV Consultation, the goal of which is to assess the state of the Czech economy and make recommendations for further development. During these regular missions, IMF experts meet with representatives of public institutions and as well as a number of private entities.
The IMF facilitates monetary collaboration on an international scale, ensures the stability of exchange rates, and supports states that are going through an economic crisis. This important organization of 189 states explicitly requested a meeting with representatives of Svoboda & Williams due to their long-term experience with the Czech premium residential real estate market and their partnership with Christies's International Real Estate. Since the premium segment is always the first to be impacted by economic changes, the delegation found it relevant to meet with the representatives of a company that has been active in this area for a long time. The meeting took place at Offices Unlimited, an affiliate of Svoboda & Williams.
Senior Research Analyst Jana Volavková, Business Director Cyril Dejanovski, and Chief Financial Officer Petr Demel from Svoboda & Williams met with IMF experts. They prepared a twenty-minute presentation summarizing the current development of the residential and commercial real estate markets, which was followed by a discussion on the delegation’s key topics. “We were able to inform them about everything from purely economic issues, such as the factors that influence the growth of real estate prices, the situation in construction, or the lack of new apartments, to the generation of millennials and how they are changing the demand for residential properties. All in all, it was a very good meeting,” said Jana Volavková.
18. April 2019
The fifth floor of the Na Petřinách 7 residential project is currently being built. At the same time, the inner partitions on the lower floors and the future front gardens are being prepared. The sale of the units will be exclusively brokered by Svoboda & Williams.
The Na Petřinách 7 project is being built in a sought-after location on the border of Petřiny and Břevnov and will consist of 13 high-end apartments with balconies or terraces. The generously apportioned interiors range in size from 66 sq. m to 256 sq. m. Extra high ceiling heights of 290 cm contribute to the units’ airy atmosphere. The villa offers premium urban living as well as a beautiful south-facing garden with private sections and common areas for friendly get-togethers.
Completion is scheduled for spring 2020.
Official website of the Na Petřinách 7 project.
15. April 2019
Thanks to the exclusive partnership between Svoboda & Williams and Christie’s International Real Estate, Monique Ghosh, Global Head of Referrals at this prestigious real estate network, was invited to speak at the Real Estate Investment 2019 conference organized by the Stavební forum magazine. Her presentation was part of a discussion panel on How to Sell and Buy. She touched on several recent trends that could be observed on the luxury real estate market in the last year and also highlighted the interesting developments taking place in several European cities, including Prague.
The Stavební fórum conference included 3 discussion panels on various topics, such as the development of real estate investments in a long-term context, property yields and how to maximize them, legislation related to purchasing real estate in the Czech Republic and abroad, as well as Prague’s strategic plan, which will have a significant impact on future investments.
Ghosh spoke about exceptional properties in the luxury real estate segment and presented some of the most interesting sales transactions that Christie's International Real Estate realized within the last year, for instance a house in the Australian state of New South Wales that achieved the highest overall price, selling for the equivalent of CZK 1.6 billion. Ghosh also mentioned other cities, like Hong Kong, Malibu, New York, or London, which has the highest concentration of luxury properties along with buyers who are willing to invest in them. Christie’s has also taken note of interesting developments in Paris and Amsterdam, where the prices of high-end properties are rising together with the increased demand for them. In Paris at the beginning of the year, Christie’s registered a record-breaking achieved price of CZK 1.024 million per sq. m. At the end of her presentation, Ghosh spoke about Prague, where an apartment in the historic center was sold for CZK 329,000 per sq. m., the highest achieved price per sq. m. in the transactions realized last year by the Svoboda & Williams real estate agency.
09. April 2019
The Svoboda & Williams real estate agency has brokered the lease of 828 sq. m. of non-residential space for the Prague branch of the Schill Dental Clinic. The private clinic’s new dentist’s offices are located in the innovative, low-energy Main Point Pankrác building.
“I first met with Dr. Schill in 2011 when he was considering expanding his clinic to Prague. In 2016, the Schill Dental Clinic contacted us again about their plan to establish a new, supermodern dental clinic in a busy and popular area that would be easily accessible to new and current clients. We presented the clinic’s representatives with several options in the center of Prague and in the district of Prague 4. The company chose the Main Point Pankrác administrative building for the high quality of its facilities and services as well as its location close to many businesses and to the metro. PSJ INVEST, the company that leased out the space, met all of Schill Dental Clinic’s demanding technical and medical requirements, which was also a significant deciding factor,” says Jaroslav Waldhauser of Svoboda & Williams.
The Schill Dental Clinic operates private dental clinics in Slovakia and the Czech Republic. Next to Prague, where it opened in 2013, it has branches in Bratislava and Žilina, and is currently planning the opening of a clinic in Košice. The company’s goal is to provide outstanding and complex dental care using the latest technologies, such as the CEREC® system that allows dental crowns to be created while you wait, digital X-rays, and computer tomography, in a stylish dental clinic with a relaxed atmosphere reminiscent of a cafe.
The Main Point Pankrác building, designed by the DAM architects studio, boasts a distinctive textured facade and a unique floor plan in the form of five rounded triangles. Low-energy and planning to achieve LEED Platinum certification, it uses recently patented Japanese technologies to eliminate smog and other pollutants from the surrounding atmosphere. The roof is designed to include an accessible garden with mature trees and shrubs. Offering a total of 24,500 sq. m. of office and commercial space and 406 underground parking spaces, it stands only a few steps from the Arkády Pankrác shopping center and a metro station in a neighborhood with a full spectrum of civic amenities that is easily accessible from the center of Prague.
08. April 2019
The Svoboda & Williams real estate agency has been exclusively retained to broker the sale of 21 apartments in the newly emerging U Hájenky project, which is situated in the immediate vicinity of the Lipno Reservoir close to Český Krumlov. It will offer 15 passive Šumava cottages built in a modern style. Each will consist of two separate units with a terrace and a garden. The construction will be divided into three stages, the first of which will be completed before the end of 2019.
The U Hájenky project offers modern living in the heart of the South Bohemian countryside, a popular destination for outdoor activities and sports. The separate duplex houses with gardens and terraces inspired by traditional Czech country covered entrances will be arranged in a symmetrical pattern. Each house will include 2 three-bedroom, 130 sq. m. apartment units. Their efficient layouts will be spread out over two floors and an attic, which can be used as an additional bedroom or storage space.
The houses will conform to passive housing standards and be built to respect the pristine nature that surrounds them. They will be offered in a basic standard that includes top-class ventilation, heating, and cooling systems. The premium option will offer air recuperation, a fireplace insert, outdoor window blinds, and photovoltaic panels. It will also be possible to add a space for hypoxic therapy, which simulates a high-altitude environment, in one of the bedrooms. There is also the possibility of property management services, which include cutting the grass, cleaning, clearing away snow, as well as rental management services.
The project is located between the mountains and the reservoir, allowing future owners to use the houses all year round, instead of only seasonally. Besides the famous Lipno Reservoir, they can also look forward to a ski slope and a cable car, which will be placed only one hundred meters from the houses. The surrounding area offers many hiking trails and bike paths. There are only a handful of places like it in the Czech Republic, which are more reminiscent of what can be found in Alpine countries. The U Hájenky project houses are a wonderful opportunity for lovers of outdoor activities, winter sports, and relaxation in nature.
The project will be constructed in three stages, the first of which will be completed before the end of the year. The individual units will be sold in a finished state.
07. April 2019
The Commercial Leasing Department of Svoboda & Williams continued in its success in 2018 and brokered several important transactions in the first quarter of 2019.
In the last half year, the Commercial Leasing Department brokered the lease of 16,645 sq. m. of office and commercial space, 98% of which consisted of landlord representation and the lease of offices. The FlixBus, Itadel, Nordic Investors, Konektor, and DPD companies all have brand new addresses. Another significant success was the exclusive appointment to manage and provide marketing services for myhive Flexi Offices, a project that offers fully equipped offices with flexible lease terms and coworking space. Commercial Leasing also signed an exclusive cooperation agreement to lease office space in the PRAGA Office & Garden building in Karlín and the Riveroff Office House in Holešovice.
14. March 2019
The Svoboda & Williams real estate agency has been retained to broker the sale of apartments in the Slavíkova 4 residence, which is situated in Vinohrady only a few steps from Jiřího z Poděbrad Square. The project entails the sensitive reconstruction of a 19th century building and will offer elegant units that artfully combine current interior design trends and period elements. The planned completion of the residence is scheduled for September 2019.
The Slavíkova 4 residence offers urban living of the utmost elegance in a vibrant neighborhood boasting a full spectrum of services, easy access to the center of Prague, as well as a wealth of cultural activities and quality restaurants. It consists of 11 apartments with floor areas ranging from 50 to 120 sq. m. and layouts from one to three bedrooms, and one studio (22 sq. m.). The two ground-floor apartments come with landscaped front gardens in the courtyard, and most of the units have balconies. Features include stylish interiors designed by the SMLXL studio, high quality hardwood floors and replicas of original casement windows, and brand name sanitary ware.
The six-story building is being carefully reconstructed by the Hradečný Architekti studio, which was inspired by the original architectural plans. The roof, the load-bearing structures, and the common areas will be repaired and renovated and the building will also be completely rewired. The decorative facade, as well as the wrought-iron banister and ceramic floor tiles will be restored to their original beauty. A new elevator with a glass shaft will be installed.
The Slavíkova 4 project is located only a few meters from náměstí Jiřího z Poděbrad Square with its iconic Church of the Most Sacred Heart of Our Lord by the Slovenian architect Josip Plečnik. There is much in the neighborhood for future residents to explore, including pleasant cafes, bistros, and bakeries with the smell of freshly baked bread. Families with children will appreciate the proximity of kindergartens, schools, and several parks. The popular Riegrovy sady Park offers a wide range of sports and relaxation activities, wonderful panoramic views of the city, and an outside cafe and beer garden. A post office, a pharmacy, shops, and other services are all within walking distance. A metro station and tram stops providing quick access to the center are only two minutes from the residence.
The units will be sold in a finished sate with the possibility of white walls finishing, i.e. before the completion of the final surfaces.
12. March 2019
The Svoboda & Williams real estate agency has brokered the lease of 1,334 sq. m. of office space for Nordic Investors. In May 2019, this high-profile Czech investment group will occupy part of The Greenline, an architecturally significant building in a sought-after business location in Prague 4.
The Nordic Investors company is a Czech financial group that runs the Nordic Telecom telecommunication operator, which has acquired 3.7 GHz frequency in an auction and is successfully building and launching a 5G ready network. The group also focuses on eHealth and real estate. It is working on the Nové Vajnory development, one of the biggest real estate projects in Bratislava, the Hotel Hradec project, and other smaller-scale projects. The group has realized the acquisition of the Géčko Shopping and Social Center in Liberec as well as its subsequent sale. It has also participated in saving the the Kovosvit Mas company. The company’s overall investment portfolio currently exceeds CZK 2.4 billion.
“Nordic Investors’ headquarters are located in the City Tower building in Pankrác, and so the company was looking for a location that would be easily and quickly accessible from there. The Greenline building, which is very close to the Kačerov metro station and the entrance ramp of the highway to Brno, was an ideal fit. Besides its accessibility, the building’s visibility as well as the storage and utility spaces available in the basement, also played a large role,“ said Petra Schinkmannová of Svoboda & Williams.
The Greenline modern administrative complex consists of seven floors, the two topmost of which have spacious terraces, and four underground levels that include a parking garage with a charging station for electric cars. Thanks to its large-format windows, the building receives an abundance of daylight, and noise protection layers ensure a peaceful workspace. The building boasts charming views of the surrounding neighborhood, excellent technological equipment, relaxation zones, and a cafe.
25. February 2019
Svoboda & Williams published its second Market Report, which biannually analyzes the situation in the premium sector of Prague’s residential real estate market. The new issue focuses on key trends in the second half of 2018.
The Market Report analyzes data on sales and rental transactions realized by Svoboda & Williams. It also includes information that was acquired from the Cadaster of Real Estate about the sale of properties with similar parameters to ones in the portfolio of Svoboda & Williams. The monitored sample therefore covers a significant portion of Prague’s premium residential market.
We noted the following trends in the premium residential property market in the second half of 2018:
- cooling of demand
- a year-on-year decrease in the average achieved price per sq. m. for apartments in S&W’s sample; exceptional properties at the tip of the real estate iceberg continue to break records
- prices of apartments in Prague reached the limits of people’s purchasing power, but construction costs are still rising – developers are in a difficult situation
- a persistent strong interest in rental housing, developers gradually increased their activities in this sector
- a wider offer of quality rental apartments, the supply was catching up with the increased demand
- lowering the pressure on the growth of rents
- gradual change from a landlord’s to a tenant’s market
The Market Report also includes a detailed analysis of sales and rental prices in Prague’s premium residential property market. In order to interpret the development of the rental market more accurately, Svoboda & Williams utilized the The Rental Price Index by S&W+VŠE, an analytical tool, developed in cooperation with the Faculty of Informatics and Statistics of the University of Economics in Prague. The Market Report works exclusively with data that is based on achieved rather than listed prices.
Svoboda & Williams Market Report | H2 2018 to download (pdf)
13. February 2019
The last remaining apartment in the U Pernikářky 7 residential project, located in the sought-after neighborhood of Hřebenka (Praha 5) with many beautiful villas, is waiting for its owner. The low-energy villa received final approval last month. Svoboda & Williams has been exclusively retained to broker the sale of the apartments in the project.
U Pernikářky 7 is situated in the exclusive neighborhood of Hřebenka and offers a unique opportunity to live in a peaceful area surrounded by greenery with a First Republic atmosphere. The elegant new building was constructed by the JRD company in cooperation with Podlipný Sladký Architects. Both firms specialize in sustainable real estate projects with high energy efficiency ratings. The villa includes attractive common areas, an underground garage, and a relaxation zone with a sauna that is reserved for residents. Energy costs are low thanks to the apartments’ insulated triple-glazed windows, central ventilation with heat recuperation, and passive convection heat distribution systems.
There is currently only one apartment available for sale: an airy, south-facing three-bedroom, 116 sq. m. unit with a large balcony. The purchase price includes two underground parking spaces and a storage space in the cellar.
The apartment will be move-in ready in March 2019.
More information about U Pernikářky 7.