ARTICLES LABELLED WITH TAG Prague

UBM Development Czechia has sold an apartment building in the Timber Praha residential project to the real estate investment fund Future X1. Building M in the Timber Praha project, which represents the first multi-storey apartment building made of wood in the capital city, comprises 15 apartments with layouts from 1 + kk to 4 + kk and sizes ranging from 39 sqm to 110 sqm. The price of the transaction was not disclosed. 

The Czech Post (Česká pošta) has announced a tender for the main post office building at the corner of Politických vězňů and Jindřišská streets in Prague. The asking price is CZK 1.538 billion (€62.3 million) excluding VAT. The tender was preceded by an offer of the building to state institutions, which was not taken up. This is according to information from the Czech Post on its website, the ČTK news agency reports. 

Q3 2023 did not bring much positive news from the Prague office market. Since Q2 2022, no office buildings have been launched on the Prague real estate market and the future does not look promising either, according to the latest analysis by Prague Research Forum. 

According to three independent sources of the daily e15, Microsoft will likely cancel its plans to build a data centre in Prague. "There is still some small hope, but it is more like wishful thinking on the part of the managers of Microsoft's domestic branch," one of the sources, who did not want to be named, described the project.

Developer UDI Group will launch a residential development in Prague directly opposite the Lužiny metro station. With an investment of more than CZK 1.3 billion (€52.6 million), two apartment buildings will be built here to complement the shopping centre, in line with the original plan from the 1980s. 

It would be an unfavourable purchase, Prague councillors agreed in the case of the Jindřiška Tower, for which the Prague Archbishopric is demanding CZK 100 million (€4 million). This is twice as much as an expert's opinion, according to newstream.cz which commented on the original CTK report. 

The Garden Lofts boutique project in Prague 5 with luxury apartments has been approved. New owners will be able to move in during the autumn. The lofts also include access to a private multi-purpose garden with greenery, seating, workout area and a garden pool. The exclusive sale is being handled by Luxent - Exclusive Properties. 

Property developer Finep has sold a house with rental apartments in Prague 9 to Mint's residential fund. The former Veltex building in Poděbradská Street is expected to bring mainly small apartments to the rental housing market within about two years. According to the daily e15.cz, the transaction is worth almost CZK 1 billion (around €40 million). 

Czechs will be forced to change their priorities regarding rental housing, as macroeconomic indicators and developments in Western European countries suggest, says in an interview for Property Forum Jiří Vajner, CEO of Creditas Real Estate, a company that wants to become a leader in the Czech rental real estate market. 

J&T Real Estate has purchased two hectares of building land on Rohanský island in Prague's Karlín district from the Rohan Consortium, in which Sekyra Group has a half share. In the future, J&T Real Estate plans to buy another two hectares and build the Nový Rohan district for CZK 15 billion (€613.5 million). The company did not disclose the specific price of the acquisition but said the value of one square metre exceeded CZK 20,000 (€818), ČTK reported, cited by online daily newstream.cz.