We developed our own so-called two-level assessment of residential projects or development plans for investors and developers. Since we mediate over 2,000 sales and rental transactions per year, we have in-depth knowledge of the demands of the current market. At the same time, we have been monitoring the premium residential market in Prague, Brno, and Bratislava for a long time. From the data we obtain we create our own price map that includes achieved rents and property sales prices in specific locations. We always rely on the actual achieved real estate prices. To calculate the price per sq. m., we use a unique algorithm, which takes into account the ratio of the exterior to the interior of the housing unit. When calculating the price per sq. m. we also factor in the standard of the given property (shell & core, white walls, fully fitted) and whether it comes with parking spaces, storage space outside of the unit, etc. Our methodology allows us to accurately determine the price of the monitored properties.
Thanks to our price map, detailed knowledge of the residential markets in Prague, Brno, and Bratislava, and our monitoring of real estate demand in general, we can appropriately set the price list and floor plan of the units in a new residential project.
In the first part of our two-level report, we set the average price level of the assessed residential project. We acquaint the client with the development and current situation in the given residential segment. In determining the price of the project, we primarily take into account our own data (Svoboda & Williams’ price map + reference projects) together with the actual demand of buyers/tenants in the market. We can thus relatively easily create an ideal price range, i.e., the average price of a unit in the project.
The second part of the two-level report is the so-called product setup. In cooperation with architects and other project partners, we follow up on the determined price and define an ideal competitive product, including its features, such as setting the appropriate layout and adequate standards. Once this is done, we come up with a corresponding sales and marketing strategy. The project is then ready to be sold.