In previous years, the total value of real estate sold by us ranged between CZK 1 and 1.5 billion. In 2021, we sold residential buildings worth CZK 2 billion, says Lukáš Křenek, Team leader Residential and Commercial Investment.
In 2021, we sold 31 residential and commercial buildings, a third more than the previous year. We are talking about residential buildings mostly in popular Prague locations, such as Smíchov, Vinohrady, Nové město (The New Town) or Malá Strana (The Lesser Town). Today, our team consists of 16 experienced agents. The result is a „product“ of our teamwork. All members of the team helped, but Dominik Šesták, Dušan Kniha and Robert Kraus did an extraordinary job.
Many people felt uncertain during the Covid-19 pandemic and this was reflected in the real estate market. Owners who were considering selling their property often tended to keep it for some time due to this uncertainty of the time. Those who needed to sell for a variety of reasons did so during despite of the pandemic. In 2021, on the other hand, fears of inflation and devaluation of money dominated, which is why many people decided to invest in real estate. Thanks to this trend, real estate prices are still rising. In our market segment, I mean in Prague residential or commercial investment, the year-on-year increase in prices in 2021 ranges from 7 to 15% depending on the location. To help you to understand, here are some examples of prices in popular Prague districts: Žižkov 80,000 - 110,000 CZK / m2, Smíchov 85,000 - 120,000 CZK / m2, Vinohrady 95,000 - 135,000 CZK / m2, Nové Město (The New Town) 90,000 -140,000 CZK / m2, Malá Strana (The Lesser Town) 180,000 - 290,000 CZK / m2. These price ranges are just the view, it always depends on the specific property. This year, we sold a residential building in Podolí for CZK 111 million, which in this case would correspond to the sale of every housing units separated. When you sell the whole house, you usually do not get such a price. This house was renovated and was in an exceptional location, houses like this are rare.
Sometimes it takes 6 months to sell a residential building, but there are cases when we mediate the interested party in 4 hours. Usually the sale takes from 1 day to 3 months, it's really different. We often know exactly who to call, who would be interested in a building. It is always important to understand the needs of both parties, of the buyer and the seller as well. The right combination of the needs of all parties then creates successful trade.
There are few experts in selling residential buildings. We met the owner of a commercial building who decided to entrust his house to a broker who was not proficient in selling residential buildings. Sometimes you can recognize it easy, for example this brooker had houses of various types throughout the whole country in his portfolio and used a public real estate portal to sell the house. He brought the owner CZK 35 million for the sale of the building. The new owner decided to sell the property immediately. We were in touch in the past, so he contacted our real estate agency. Four months later we sold this same building for more than CZK 50 million.
Our team specializes only in the residential and commercial investment in Prague. Each of my colleagues works 10 hours a day. Consider for yourself whether you want to take a risk with an unprofessional seller or use the services of an experienced real estate agency and get the highest possible price on the market for your property.
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