15. September 2020
The reconstruction of the Schön building on Obchodná Street is continuing according to plan and is scheduled to be finished in the early part of 2021. The reconstruction aims to preserve the original Functionalist architecture from the first half of the 20th century while ensuring comfortable 21st century living in the center of Bratislava.
The Schön Residence consists of bright apartments with one-bedroom to two-bedroom layouts and floor areas ranging from 43 sq. m. to 139 sq. m. Retail and office space will take up the first two floors of the building. At the end of the summer, work on the façade was completed and new windows were installed. Currently, work is continuing in the interiors—layout modifications, preparation for air-conditioning, and underfloor heating in all units.
Contact our office to schedule a visit of the construction site.
More information about the Rezidence Schön project.
11. August 2020
The COVID-19 pandemic affected the global economic system and the Bratislava real estate market was no exception. The number of new build apartments sold in Bratislava in the quarter-on-quarter comparison decreased by 40%, but in the year-on-year comparison actually increased by a third. Apartment sales prices have also reached new heights—the average price of a unit in Bratislava is currently just under EUR 3,000 per sq. m.
Experts estimate that the fallout from the economic downturn caused by the new Coronavirus pandemic will be felt especially in the second half of 2020, which, if they are correct, would put pressure on real estate prices. The National Association of Real Estate Agencies in Slovakia (NARKS) stated that housing preferences may change in the future after society’s experience with lockdown measures and quarantines. People will be more likely to take into account the importance of space and quality when it comes to buying property. “Many of our clients are currently searching for properties with a balcony, terrace, or front garden. The popularity of primary or secondary housing, where owners can comfortably spend their weekends, part of the workweek, or the summer months, has also increased,” says Dagmar Skalníková, real estate agent at Svoboda & Williams.
The COVID-19 travel ban was naturally followed by a decline in the number of short-term rental or Airbnb customers, which resulted in an increase in offers of properties for long-term rent. In Bratislava in the first half of the year, the situation caused a 28% growth in available apartments. The real estate market thus changed from a landlord’s to a tenant’s market.
During the Coronavirus crisis, the Svoboda & Williams real estate agency quickly adapted to the new demands of the market and came up with several innovations, such as real-time video viewings, Flexi Rentals services, or Flexi Office Management. Even with the Coronavirus pandemic in full swing, Svoboda & Williams was actually exclusively retained to sell new apartments in the Koliba and Schön residential projects. “The crisis has not stopped clients who need to discuss housing issues from contacting us. On the other hand, clients who have acquired real estate as an investment have chosen to bide their time and wait until the crisis starts having an impact on property prices. At this point in time, however, developers working in the Bratislava real estate market aren’t thinking about lowering prices,” adds David Martan, head of the Slovak branch of Svoboda & Williams.
12. June 2020
Based on an exclusive instruction, the Svoboda & Williams real estate agency has launched the sale of apartments in the Schön Residence, an architecturally significant building designed by the architects Weinwurm and Vécsei that is currently being reconstructed. The Functionalist residence is located on Obchodná Street, close to the city center and with full civic amenities within easy reach.
The seven-floor residence is currently being completely renovated and should be move-in ready by the end of 2020. The first two floors will consist of office space and the basement will be turned into a parking garage. The Schön Residence offers 10 apartments with layouts that range from one-bedroom to two-bedroom units with floor areas from 43 sq. m. to 139 sq. m. All of the apartments will receive plenty of daylight thanks to their practically designed interiors, high ceilings, French windows, or balconies and terraces that overlook a courtyard. Noise-reducing aluminum windows will block out the sounds from Obchodná Street, creating a comfortable home environment, and the final standard of the apartments will include underfloor heating, a preparation for air-conditioning, and Sherlock security doors. Each apartment also comes with a cellar storage unit.
The multifunctional Schön building built in 1943 was designed by the renowned duo of Functionalist architects Friedrich Weinwurm and Ignác Vécsei as the first department store in Bratislava. Located on the upper part of Obchodná Street close to Hurbanovho Square, it therefore presents a unique opportunity to purchase property, the value of which is likely to increase once the street is completely revitalized. With services, urban amenities, restaurants, cafes, and historic Old Town at your fingertips, this is truly 21st century housing. With services, urban amenities, restaurants, cafes, and historic Old Town at your fingertips, this is truly 21st century housing. The combination of all these factors makes buying an apartment on Obchodná Street an ideal investment.
Murman property development together with architect Norbert Konrád are behind the reconstruction of the Schön building. Their goal was to preserve its original architectural style. The Murman company is interested in improving public spaces and has experience with reconstructing Functionalist buildings from their work on the Dunajská 1 residential project.
More information on the Schön Residence.
15. April 2020
The Svoboda & Williams real estate agency has been exclusively retained to launch the sale of apartments in the newly created Koliba Residential Project. The complex boasts one of the most lucrative addresses in Bratislava thanks to its green surroundings yet easy access to the city center.
The residential complex consists of three apartment houses with indoor as well as outdoor parking spaces and green roofs. Each building has 4 floors. Apartment house A consists of 17 units, and apartment houses B and C both contain 15 units. The apartments come in studio to three-bedroom layouts and range in size from 43 to 368 sq. m. All of the units have impressive views of Bratislava, and some come with front gardens or large terraces. With its designer finishes and quality materials and equipment, the residence’s high standard includes wooden floors, brand name sanitary ware, 210 cm interior doors, underfloor heating, and triple-glazed aluminum windows. The apartments all come with a cellar storage unit.
The lucrative Bratislava neighborhood in which the residential project is located offers timeless housing in a peaceful area at the foot of the Little Carpathians with an abundance of sports opportunities in the immediate vicinity. It is also home to complete urban amenities, including public transport stops, cafes, restaurants, schools, and the popular Gaštanica Park with a playground.
More information on the Koliba Residential Project.
08. April 2020
The current situation will inevitably disrupt the entire office segment of the real estate market. In this difficult time, Svoboda & Williams offers help with optimizing operating office, manufacturing, and warehouse space costs.
Svoboda & Williams now offers tenants of non-residential premises an initial free consultation and analysis of their current lease terms. The aim of this service is to reach an agreement with the landlord that would lead to the overall reduction of the tenant’s operating costs, a renegotiation of the lease terms, the sublease of unoccupied space, or the relocation of the tenant. Alternately, companies can take advantage of our Flexi Office Management services, allowing Svoboda & Williams to find temporary shared offices with flexible lease terms.
“Tenants of commercial premises are starting to ask us about ways to deal with the sudden situation. Many companies have seen their revenues fall sharply. We are trying to monitor the market and offer assistance during negotiations with landlords, whose situation is no less complicated,” adds Dagmar Skalníková, who is in charge of tenant representation at Svoboda & Williams.
06. April 2020
The first COVID-19 case in the Slovak Republic was confirmed on March 6th, 2020. Since then, more than a month has passed and it’s been 3 weeks since a state of emergency was declared. Despite these circumstances, Svoboda & Williams has adapted to the situation and provided its services in full throughout the month of March.
The Slovak team of the Svoboda & Williams real estate agency is complete and continues to be ready to provide all of our services as usual. Every segment of the real estate market without exception had to adapt to the current situation. Svoboda & Williams’ real estate agents offer real-time video property viewings through video calls, and many clients have taken advantage of this option. Our residential rental department responded by offering Flexi Rentals that reflects the new market demands.
In March, the Residential Sales Department registered a 25-35% drop in demand. The number of newly signed reservation contracts also fell by the same amount in the same time period. It’s a good market for opportunistic investors, who can now benefit from discounts that would normally not be available. For real estate agencies, the situation is not as bleak as the media makes it seem. However, one thing is already clear: the post-coronavirus market will a buyer’s and tenant’s market, at least for some time.
26. March 2020
The coronavirus pandemic has affected all segments of the real estate market, including rental housing, and this doubly applies to the Bratislava short-term rental market, which, according to current estimates, consists of about 2,500 apartments. Tenants are now likely to demand flexible relationships with landlords in this uncertain time. Svoboda & Williams is therefore launching a new concept of rental housing—Flexi Rentals—fully furnished apartments with flexible rental terms.
One of the first measures enacted after the global spread of the coronavirus was a complete ban on tourism. The full impact of this on the real estate rental market can only be speculated. Moreover, some form of regulation of this segment can also be expected. Housing units that have until now been used as accommodation for visitors and tourists are already starting to create a surplus in the selection of apartments for rent in the wider center of Bratislava. The market thus has to contend with an unprecedented disruption that will affect all landlords, including those who rent their properties on a long-term basis.
Svoboda & Williams has therefore come up with a solution for the rental market: Flexi Rentals. This new concept of rental housing offers landlords complete management services of their unused units. “Tenants will be able to sign contracts for a rental period that suits them. We believe that this type of rental option will be greeted positively by people due to the current situation,” adds David Martan, Head of the Slovak branch of Svoboda & Williams.
23. March 2020
Due to the current recommended preventive measures that aim to minimize personal contact, in addition to standard property viewings Svoboda & William real estate agents are now offering real-time video property viewings. Clients can tour the property from the comfort of their own homes via WhatsApp, FaceTime, Skype, Messenger, and other apps.
“Video viewings are nothing new to the real estate market, however, the current situation has forced us to take a more innovative approach to property viewings. Just like they would schedule a normal viewing, our brokers arrange a video call with clients at a set time. Unlike previously filmed property tours, the advantage of this format is that the broker can interact with the client in real time,” explains Michaela Koudelová, Sales Department Manager.
Please contact Svoboda & Williams if you’d like to schedule a real-time video viewing and our brokers will explain the process to you. Standard property viewings are still available for clients who prefer a more direct contact.
06. March 2020
The main topics of the two-day conference, which took place at the end of February 2020, were the current trends in the premium real estate market and the latest innovations in marketing. These and other issues were discussed among the participating representatives of real estate agencies from Europe, North and South America, and Australia that are affiliates of the Christie’s International Real Estate network.
Members of the Svoboda & Williams team attended this year’s conference organized by Christie’s International Real Estate. Held in Palm Beach, its program was devoted to the development of the premium real estate market, the new generation of marketing strategies, as well as to environmental issues and the impact of the coronavirus on the global economy. “The conference allowed us to see the premium real estate segment from a global perspective, making it easier to predict what awaits us in the coming period, and we also got to know what marketing tools are most effective for this particular segment,” adds Prokop Svoboda, owner of Svoboda & Williams.
“The collaboration and exchange of ideas over the two days of meetings, through both guest speakers and networking opportunities, provided our Affiliates with strategies to strengthen and grow their luxury businesses,” stated Dan Conn, CEO of Christie’s International Real Estate.
Christie’s International Real Estate has been active on the global premium real estate market for more than 30 years. It currently has affiliates in 49 different countries. Svoboda & Williams has been the exclusive affiliate for the Czech Republic and Slovakia since 2017.
17. February 2020
The Svoboda & Williams real estate agency has published its fourth Market Report, which analyzes the situation in the premium segment of the Prague residential real estate market in the second half of 2019. The most significant event of the previous year was Svoboda & Williams’ expansion to the Slovak market, and so this issue has a Czecho-Slovak theme and is published for the first time in Slovak.
The analysis contained in the Market Report is based on data from the sales and rental transactions conducted by Svoboda & Williams. Complemented by sales data obtained from the Cadastre of Real Estate with parameters that correspond to the portfolio of Svoboda & Williams, a comprehensive overview of sales and rental prices on the Prague premium residential market has been created. The Market Report also summarizes the events on the Prague real estate market, placing it within the context of the domestic and international economy. On the occasion of Svoboda & Williams’ entry on the Slovak market, the topic of the report’s Focus section this time is Bratislava.
In the second half of 2019, Svoboda & Williams recorded the following trends in the premium property segment:
- Rising demand from investors is putting pressure on property prices, causing them to increase
- Rising construction costs and premium standards of completion lead to an increase in prices in the premium real estate segment
- The average achieved price per sq. m. of the properties monitored by Svoboda & Williams had a year-on-year increase of 3%
- The number of projects whose construction began in 2019 rose by 102%
- The supply in the premium segment remains stable, it only decreased in the segment of more affordable apartments
- Demand weakened slightly due to tenants’ lack of motivation to move
- Increase of the short-term rental offer
An integral part of the Market Report is also a detailed analysis of sales and rental prices on the Prague premium residential market. It is based solely on data from realized, not asking, prices. Svoboda & Williams therefore created the Rental Price Index of S&W + VŠE analytical tool in cooperation with the Faculty of Informatics and Statistics of the University of Economics in Prague.
Svoboda & Williams Market Report | H2 2019 download (pdf)
Rental Prince Index of S&W + VŠE (pdf)
Overview of all Market Reports published so far.