15. October 2018
Veronika Krejcárková, International Property Consultant at Svoboda & Williams, attended an international conference in New York organized by the Christie’s International Real Estate global network. The program focused on visual and decorative art, luxury goods, collectables and marketing and real estate sales techniques.
This year’s Luxury Specialist Conference, which took place at Christie’s auction house in New York City’s Rockefeller Plaza, was attended by over 250 affiliated agents from Christie’s International Real Estate network. The aim of the conference was to deepen the agents’ knowledge of all kinds of luxury assets, including artwork, jewelry, watches, handbags, and, of course, real estate. Representatives of the world’s leading real estate agencies and developers, Christie’s specialists, and the economist Elliot Eisenberg, who presented his prognosis for the year 2019, spoke at the conference.
“This conference provides network agents the opportunity to better understand and leverage Christie’s full spectrum of expertise in art, luxury goods, and real estate. The agents who attend are proven experts in their local markets, motivated to pursue continuing education in the luxury market,“ stated Dan Conn, CEO of Christie’s International Real Estate network.
“We have long been of the opinion that there is a natural synergy between high art and premium real estate, and so it was inspiring to discuss this topic with our colleagues from around the world. The new contacts we acquired will help us expand our portfolio of properties in attractive locations throughout the world,” said Veronika Krejcárková, International Property Consultant at Svoboda & Williams.
Properties in New York City.
24. September 2018
On the basis of an exclusive instruction, Svoboda & Williams has launched the sale of apartments in the Záběhlické výhledy (Záběhlice Vistas) residential project. This unique minimalist style residence is set in an older neighborhood of Prague 10. With charming views of the green valley of the Botič Creek, it offers peaceful living combined with today's high housing standards.
The Záběhlické výhledy project will consist of a modern tiered building located on a slope of the Botič valley in a historic part of Záběhlice. The building is situated on Dolní Chaloupky Lane, which has a peaceful atmosphere that is underscored by the ubiquitous greenery. The residence will offer 8 one-bedroom and two-bedroom apartment units, ranging in size from 58.6 to 101 sq. m. On the ground floor, there will be 10 garage parking spaces. Each apartment has its own south-facing terrace (6.9 to 37.9 sq. m.) as well as a cellar storage unit. The apartments range in price from 6.6 to 11.8 million Czech crowns.
The neighborhood offers a wide spectrum of services, including kindergartens, elementary schools, shops, playgrounds, and sporting facilities. Future residents will also appreciate the location’s easy access to the center of Prague by car or by public transport – the bus stop is a three-minute walk away. Those who seek an active lifestyle will have plenty of opportunity to go on hikes and bike rides around the Hamr pond park or along the Greenway Botič recreational path.
The Záběhlické výhledy project is being built by the ED Development & Engineering s.r.o. company and is sold exclusively by Svoboda & Williams. The scheduled date of completion is spring 2019.
More about the project: Záběhlické výhledy
17. September 2018
Svoboda & Williams has been exclusively retained to broker the sale of apartments in the Na Petřinách 7 project. The low-energy building, surrounded by a landscaped garden, is situated in an attractive part of Prague 6, close to the Břevnov Benedictine Monastery and the Ořechovka villa quarter.
The Na Petřinách 7 project consists of 13 luxury apartments with balconies or terraces in the sought-after area between Břevnov and Petřiny within walking distance of a metro station. The building’s high-end design and attractive location complement the size of the apartments, which range from 66 sq. m. (for one-bedroom apartments) to up to 256 sq. m. The units are spacious and airy due to their extra high ceilings (290 cm). Each apartment comes with a large storage space in the basement and two underground parking spaces (the first residents may select their spaces).
The villa has a large garden with mature trees, which was designed by the renowned landscape architects of Atelier Flera. Besides private sections, it includes space for get-togethers with friends and neighbors, family barbecues, relaxation zones, and a sandbox.
The name of Jiří Šalda, the developer and spiritual guru of the project, who was also in charge of its construction management, guarantees that the project will be of prime quality. During the careful preparation of the project, realized by his own company, Jiří Šalda relied on his 20-year experience of working in construction. The project is planned to be finished in 2019.
More information about the project: Na Petřinách 7
12. September 2018
Svoboda & Williams has been retained on an exclusive basis to arrange for the sale of 39 alpine-style apartments situated in the attractive location of Harrachov, a picturesque resort town in the Krkonoše Mountains. The Trio Harrachov project, which consists of three apartment buildings, will be set in a peaceful valley of the Kamenice River just a few steps from a ski slope, cross-country trails, and bike paths.
Thanks to their location, the Trio Harrachov apartments are a perfect second home for outdoorsy types and nature lovers. Situated in a renowned Krkonoše resort that offers a wide spectrum of services and sports activities for the whole family year-round (including a golf course, tennis courts, or a rope park), these apartments are a great alternative to a country cottage or a cabin. The project was designed by the ArchiSPACE studio, which deftly added contemporary elements to the typical architecture of the Krkonoše region. The trio of houses thus boasts a freshly modern yet traditional look.
Each house includes 13 cozy, mostly south or southeast-facing apartments with layouts ranging from studios to two-bedrooms and floor areas from 25 to 88 sq. m. Most units have a balcony or a front garden and their own parking space. They boast views of the Kamenice River and the opposite forested hillside. Each apartment comes with a cellar unit that is well suited for storing sports equipment. They will be sold in a finished state, including triple-glazed insulated windows, high quality wooden floors, and security doors.
“The Trio Harrachov apartments are an ideally located weekend mountain getaway for active families and individuals, who like to ride their bikes, go hiking, cross-country skiing, or play other sports. Their great potential as rental properties makes them an interesting investment,” says Jan Mráz, Senior Agent at Svoboda & Williams.
The first mountain residence will be completed in the fall of 2019, the remaining two will be finished in the spring of 2021. The sale of apartments in the first residence will be launched in October 2018.
Official project website: Trio Harrachov
11. September 2018
Svoboda & Williams, in cooperation with the Polverini Strnad law firm, presents the Asset Protection (AP) service. Its aim is to protect real estate and other assets from theft or other risks. Attorney Mgr. Pavel Strnad, Ph.D. answered our questions about AP.
What does asset protection (AP) entail and who is it for?
AP is a set of legal tools that protect the client and his or her assets from everyday risks. In effect, it is something that goes beyond regular insurance in that it protects the client’s assets from events that cannot be insured against. You can, for example, insure your real estate against destruction or damage, but not against theft. Life is full of risks which concern, for instance, asset inheritance proceedings (especially of real estate or shares in a company) with multiple heirs, complicated family relationships, matrimonial property (MP) with existing debts, ungrateful descendants, owning shares in a company with multiple shareholders, being bullied, being the object of envy, or having the privacy of your assets infringed upon.
Some of the AP tools could previously only be used by very wealthy people due to their high cost. We offer solutions that a wider spectrum of clients can afford. The AP service is tailored for those who want to live a peaceful life and realize that they may find themselves in an unexpected situation and want to be assured that they won’t lose their assets if unfavorable circumstances occur. These are typically real estate investors, entrepreneurs (statutory representatives, managers, etc.), people who have complicated family relationships, or have been the target of envy.
How does your office cooperate with clients? Is it a one-time engagement or a long-term cooperation?
Mostly it’s a long-term collaboration because we help the client with more than one issue. But we also have clients who we represent only once. Consider, for example, someone who intends to buy a property, signs a reservation contract, and then – ideally before signing the purchase contract – contacts us about getting asset protection. We meet with them within 48 hours to discuss their situation. For simple cases, we provide legal advice immediately, for more complicated cases, we come up with tailored solutions generally within a week. Costs for the initial consultation and asset protection proposal start at CZK 1,000, and generally don’t exceed CZK 10,000. In some cases, we find out right away that the client’s assets are already sufficiently protected and our AP services are thus not needed. From the client’s perspective, it’s crucial that the process of acquiring AP services does not slow down the purchase of the property.
The AP service helps people avoid problems. Do you offer something for those who have already gotten into trouble?
In the 20 years that we’ve been specializing in real estate law, we’ve dealt with hundreds of residential property cases. It was clients who needed help with their real estate problems who motivated us to launch our AP services. We would often see the same legal issues over and over and we realized that simplifying some of the processes would significantly lower their costs. In some cases, our prices are as low as 30% of the usual market price.
We also represent clients in court as well as in out-of-court settlements. We’ve won over 150 complicated court cases and represented clients in more than 30 insolvency proceedings in which the debt amounted to over 20 billion CZK. We also specialize in complicated cases that are often seen as lost causes.
Property – unlike a car or a wallet – can’t be easily stolen. Nevertheless, there are cases of people losing their property. Is there an easy way to eliminate the main risks?
I’ll answer your question by using one of our cases as an example. A client randomly checked on her property and found out that her land was owned by a company she’d never heard of. Her permanent residence was in Znojmo, but she lived in Prague. The problem started when she lost her ID and a fraudster used it to sell the land. Although the usual bureaucratic processes took place, nobody noticed anything wrong and the cadastre changed the ownership of the land based on a fraudulent claim.
This case would never have happened if the client had taken several very simple steps. The simplest and least expensive step to protect your property is to get the Service for Monitoring of Changes that the Cadastre of Real Estate offers for CZK 200 per year for up to 20 properties. The client then could have had a much higher chance of finding out that somebody was trying to steal her property. But even in this case the fraudster could have falsified her signature in the request for this service. We therefore recommend that clients use several legal tools at the same time. If, for example, the client would have borrowed money from a good friend and secured her return of the money with a contract with a negative pledge, she would have basically eliminated any possibility of theft. We often hear that a mortgage and an encumbrance are bad things that must be gotten rid of as quickly as possible. But there is something positive about encumbrance. It’s usually the “clean” unencumbered properties that are the targets of thieves and scammers.
Can you mention some of the myths about property law that you often have to convince your clients are not true?
I’ve already mentioned one myth. Many people believe that if their ownership is registered in the cadastre, their property is safe or untouchable. There are also many myths about matrimonial property (MP). People forget that any property gained during a marriage is generally considered MP (even the salary paid into your bank account), as are the debts incurred by one of the spouses. People who try to eliminate risks by entering into agreements that limit MP often erroneously believe that this solution gives them absolute protection.
We also often hear that the articles of association of a limited company with multiple shareholders is a standard document that one doesn’t have to think about too hard. We disagree. We dealt with a situation in which the majority shareholder died and was replaced by his wife and children aged 16 and 19. The articles of association lacked a clause about what happens in the event of the death of a shareholder and the inheritance shares, and so his shares automatically went to all of his inheritors. As it often happens, each had their own opinion about what to do with their shares and in the end agreed to sell them. The minority shareholder didn’t want to sell his shares, and so they removed him from his position as the executive director. He lost control over the company and couldn’t even manage its business. The divergent interests of the shareholders thus froze the company. Since the minority shareholder didn’t have enough funds to buy out the majority shareholder, he was, in effect, forced to sell his shares. And so he lost a prosperous company that he helped build as well as his only source of income. This could have been prevented by a simple check of the articles of association and their amendment at a notary’s office. The cost of the notary’s services is several thousand Czech crowns.
Some people try to protect part of their family’s property with an agreement that narrows the scope of MP. To what extent is this solution effective?
Narrowing the scope of MP can be an effective measure, but it is by no means a universal solution. The main risk is that the agreement between spouses or fiancés must not touch on a third party’s rights (i.e. any creditor), unless this third party agrees with the agreement. If this agreement is signed without the agreement of the creditor, it’s not effective with respect to them.
Due to the absence of established court practice concerning the relevant regulations of the Civil Code, it’s not even certain that these agreements can act as sufficient protection against the future debts of the other spouse. To eliminate this risk, it’s imperative to register the agreement into the electronic List of Matrimonial Property Agreements at the Notarial Chamber of the Czech Republic. For things entered into public lists (i.e. property lists) it’s necessary to register the agreement into this list as well to make it effective against third parties. In short, the basic downside of narrowed MP may be the fact that anyone can easily look up that one’s assets have been “set aside“ by one of the spouses and can legally challenge this, even just for calculated reasons.
Arrange a legal consultation about Asset Protection.
14. August 2018
Svoboda & Williams is exclusively launching the sale of the Záběhlické
výhledy (Záběhlice Vistas) residential project. As its name suggests,
this lovely residence is characterized by gorgeous views of the lush
greenery of the Botič creek valley. It is perfect for all those
looking for peaceful living and first-class housing standards.
The Záběhlické výhledy residential project will consist of a modern tiered house with a flat roof, set on a slope of the Botič valley, in a historical part of the Záběhlice quarter. Dolní Chaloupky, the lane on which the property is situated, features a peaceful atmosphere that is amplified by abundant greenery. The residence will offer a total of 8 apartments with one-bedroom and two-bedroom layouts whose sizes range from 58.6 to 101 sq. m. The apartments will cover three above-ground floors, while the ground floor is where 10 parking places will be situated. Each apartment boasts a south-facing terrace (6.9 to 37.9 sq. m.) and has its own cellar storage unit. The purchase prices range from CZK 6.6 million to CZK 11.8 million.
The future residents are sure to appreciate a wide array of services and amenities available in the close surroundings of the residence, including kindergartens, grammar schools, various stores and playgrounds. Another significant merit is easy access to the city center both by car and public transport – the nearest bus stop is only three minutes on foot from the property. What is more, the immediate surroundings have much to offer to history lovers, who will surely be impressed by the Neo-Baroque charm of the Záběhlice Chateau, the originally Romanesque Church of the Nativity of the Virgin Mary and the unique Práče historic settlement. Those who pursue an active lifestyle will likely spent hours walking or cycling in the Hamr pond area or along the Greenway Botič recreational path. There are also several sports facilities located within reach of the residence.
The Záběhlické výhledy project is being built by the ED Development & Engineering s.r.o. company and sold exclusively by Svoboda & Williams. The scheduled date of completion is Spring 2019.
More information about the project (only in Czech): Záběhlické výhledy
14. August 2018
Svoboda & Williams real estate has published the first volume of its Market Report which will biannually analyze the developments in the premium segment of the Prague residential market.
"For quite a long time, we have been considering how best to work with the data on the real estate deals that our business is constantly generating. Finally, we have decided, in the name of transparency, to publish the non-sensitive part of this data regularly, in the form of the Market Report. Alongside the raw data itself, the Market Report, of course, also includes our interpretations and comments – simply put, it is a view of the real estate market through our eyes," says Prokop Svoboda, Managing Partner of Svoboda & Williams.
Released twice a year, each volume of the Svoboda & Williams Market Report will focus on the past two quarters. Close attention will be paid to the rental market in Prague, which has recently been undergoing a considerable revival. Aiming to achieve an accurate interpretation of the development of the rental market, Svoboda & Williams has been using the S&W + VŠE Rental Price Index, an analytical tool that the company developed in cooperation with the Faculty of Informatics and Statistics at the University of Economics in Prague. Crucially, the Market Report only works with data concerning realized, not advertized, prices.
The current issue of the Market Report is dedicated to:
- The gradual rationalization of the property demand in the second quarter 2018
- The widening of the offer of new apartments and resales
- The impact of the Czech National Bank’s restrictions on the real estate market
- The rise of rental housing
- The influence of the cultural & gastronomic scene on residential development in Prague 7
Click here to download (pdf) the Svoboda & Williams Market Report | H1 2018
13. August 2018
Svoboda & Williams newly offers the Private Home Search consulting service for clients looking for a premium property of unique parameters. This new tailor-made service will provide them with professional assistance in finding the perfect property, unbiased advice, and consultancy throughout the acquisition process.
Thanks to Private Home Search, the client will gain access to properties across the entire market, including off-market properties, listings of other real estate companies, and projects that are in preparation. Whether it’s a luxury apartment in the center of Prague, an exceptional family estate, a property of unique provenance or a recreational property, thanks to its extensive list of contacts, Svoboda & Williams is sure to identify the best that the market has to offer in the given category and location. The search isn’t limited to the Czech market: in cooperation with the other Affiliates of the Christie’s International Real Estate network, Svoboda & Williams will help you discover the right property for you in some of the most attractive locations around the globe.
For each of the properties that spark the client’s interest, Svoboda & Williams will compile all available information and write out an unbiased assessment. We will also provide consultancy services during the acquisition process, including legal services. If needed, Private Home Search can also include expert consultation on investment projects and advice on the possibilities of generating long-term yield, including rental and property management options.
More information about the service can be found here.
13. August 2018
At www.svoboda-williams.com you may now use our new Watchdog service, which constantly monitors our real estate offers and sends you automatic notifications of new or repriced offers according to the filters you have selected.
Monitoring the real estate market and searching for properties and apartments is a tedious process. Moreover, sometimes it can happen that you blink and the “perfect” property for you is gone. This is the reason that Svoboda & Williams has created a service that will monitor our real estate offers 24 hours a day for you. As soon as a new listing that fulfills your requirements appears, you will receive an e-mail notification.
Using Watchdog is easy: just select the basic parameters of the property you are looking for (location, size, price range, etc.) and choose how often you want to receive e-mails. You can also set up multiple parallel Watchdogs with different filters, which will help you monitor the corresponding property types.
Watchdog monitors the properties that are in the portfolio of Svoboda & Williams. The service is free and there are no obligations attached. You can register here.
16. July 2018
Svoboda & Williams has launched the sale of Phase II of the PRAGA Rezidence project, a new architecturally unique building that seamlessly blends with the surrounding neighborhood in the historic part of Karlín.
Phase II offers 7 stylish one-bedroom to four-bedroom (52-261 sq. m.) apartments, including two three-story townhouse apartments with large terraces and a separate floor for a bedroom. The apartments are finished to a high standard and unfurnished, and their interiors feature all of the comforts of urban living. Their future owners will have the option of buying a parking space in the underground garage.
The nine-story building with its large private garden is situated at the foot of the green Vítkov Hill, on the site of the former PRAGA automobiles garage. The striking new building will be part of a mixed-use complex of three buildings with a pedestrian zone connecting Křižíkova and Pernerova Streets. PRAGA Rezidence, with its clean, timeless lines, designed by the A.D.N.S. architectural studio, offers ideal 21st century housing – at the heart of a vibrant neighborhood with a unique ambience, yet with nature close at hand. The project is being developed by the M2 Real Estate company.
Official website of the project: PRAGA Rezidence