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.
09. August 2019
A team of agents from Svoboda & Williams participated in the fifth annual beach volleyball charity cup, which took place on August 7th, 2019. The event was organized by the JLL consultancy company and was held at Žluté lázně. A total of 29 teams made up of professionals from the Czech real estate market competed in the tournament.
A grand total of CZK 270,000 was raised by the Czech Real Estate Charity Beach Volleyball Tournament 2019. The proceeds will go to the Sun for Everyone Endowment Fund, which offers a wide range of educational and social services for children and adults with special needs. The fund organizes psychiatric rehabilitation stays, purchases special equipment, and provides nursing care, therapeutic workshops, and many other activities.
30. July 2019
The Celínka residential project, located on Elišky Krásnohorské Street in an area with a rich history, has successfully received final approval. Two commercial premises on the ground floor have already been sold, as well as 50% of the generously apportioned apartments designed in an authentic 1930s style. The Svoboda & Williams real estate agency has been exclusively appointed to mediate the sale of these units.
The seven-story Celínka building has been completely reconstructed under the guidance of the Mimolimit architectural studio. There are two apartments on the first floor, but each floor above it features only one approx. 240 sq. m. unit. With truly spacious interiors and carefully configured layouts, they satisfy contemporary demands for high-end urban living.
Potential buyers can now come and experience the unique atmosphere of Josefov and imagine what living in this exceptional residence could be like. All of the apartments have balconies that face a peaceful courtyard and are sold in a state of white & walls. If desired by their new owners, the interiors can be completed, for example by architect Barbora Škorpilová.
Please contact us to schedule a viewing.
More information about the Celínka residential project.
12. July 2019
In terms of personnel, this summer was a time of growth for the real estate agency, both in Prague and in Brno. Svoboda & Williams welcomed new members to the Residential Sales, Residential Rentals, and Commercial Leasing departments, and the Marketing and Investment Management departments have also expanded their staff. The Brno branch now has a new Business Development Manager.
Kateřina Kubíčková joined the Residential Sales Department in June as a Junior Agent. She studied engineering while at secondary school and previously worked for 18 years in human resources and office management. Kateřina speaks English fluently. David Čermák is the latest member of the Residential Rentals team. He studied photography in college in České Budějovice, and until recently was the Deputy Manager of the Bibloo Concept Store. The Commercial Leasing Department welcomed Monika Dixová, who has experience in journalism and was also in charge of several of her own projects. She is currently training for her first marathon.
Tereza Šimerdová, who has been working for Svoboda & Williams since 2017 as an assistant in the Commercial and Analytics team, joined the Marketing Department as a Project Manager in July. Klára Zemanová began working in the Investment Management Department. She has a degree in economics and management from the Czech University of Life Sciences and worked for two years as a financial accountant.
David Kočařík is the newest member of the Brno team and has been in charge of the branch’s business development since June. He is a graduate of the Faculty of Business Management at the Brno University of Technology, with a degree in economics and management. David also has 13 years of experience in construction; he first worked as a technician, then as a building site manager, project manager, and finally as the chief executive officer of a construction company. Besides his native Czech, David is also an advanced speaker of German.
The Prague branch of Svoboda & Williams also acquired a new assistant in July. Božena Maršíková is currently studying creative marketing at the University of Creative Communication. She also enjoys skiing, which she occasionally teaches.
11. July 2019
The Riveroff Office House administrative center is currently being reconstructed. Together with several other buildings, it will be part of the multifunctional Rivera and Port7 projects, which are significantly contributing to the transformation of one of the banks of the Vltava River. The Svoboda & Williams real estate agency has received an exclusive instruction to mediate the lease office space in the Riveroff building.
The Riveroff complex will offer office space with a variety of different features that consists of two studios, a showroom, a five-story tower, and non-residential space in the basement. The tower will be completed in the final quarter of 2020, and the rest of the space will be ready by the end of 2019. The studios and showroom already have a new roof, the plastering is finished, and soon the floors will be laid and Schüco aluminum windows will be installed.
GEONE Real Estate, the developer of the Rivera complex, acquired permission to construct a port, and so besides offices, a hotel, and apartments, there will also be a unique “floating house” on the river. Moreover, the construction of the modern Port7 multifunctional campus, a project realized by Skanska Property, will soon begin.
More information, including about the Riveroff Office House project.