The recent commercial presentation held in Prague on October 9, 2024, shed light on various key topics impacting the real estate market in the Czech Republic. The event, organized by Leading Real Estate Companies of the World, brought together approximately 160 experts from 30 countries, including the sole representative from the Czech Republic, Philip & Frank real estate agency led by managing partner Filip Šejvl.
During the symposium, Filip Šejvl highlighted the economic stability, growing technological sector, high quality of life, and sense of security that make the Czech Republic an attractive investment destination. He emphasized the lucrative position of Prague’s real estate market, comparing it to other major European cities like Vienna. According to Šejvl, Prague offers significant opportunities for real estate investment, especially in the central areas, with the expectation of continuous price growth in the long term.
The trend of cross-border investments gaining traction among investors was a prominent theme at the symposium. While major European cities like London, Paris, Berlin, and Madrid continue to attract attention for exclusive properties, emerging markets with high growth potential such as Prague and Brno are also garnering interest. Understanding the unique characteristics of regional real estate markets is crucial for investors navigating the diverse European real estate landscape effectively.
Sustainability emerged as a key focus within the real estate market, particularly concerning eco-friendly buildings. Regulatory requirements and consumer preferences are driving the emphasis on ESG factors (environmental, social, and governance) in investment decisions. The upcoming years are expected to witness a significant trend towards sustainability, with Scandinavian countries and the Netherlands leading the way in promoting innovation and quality of life in real estate.
Efforts to enhance collaboration among commercial divisions of real estate agencies were also discussed at the symposium. Creating a robust global platform for commercial property trading, similar to the model in the American market, was a key objective. The symposium aimed to explore ways to deepen cooperation and improve efficiency within the industry.
Trends such as hybrid work models, affordable housing concerns, and digital innovations like artificial intelligence and digital platforms are shaping the present and near future of the real estate market. These technologies are streamlining real estate transactions and property management processes, indicating the direction in which the industry is heading.
The annual international symposium organized by Leading Real Estate Companies of the World provides a valuable platform for industry professionals to exchange insights and discuss emerging trends. This year’s event, held in Budapest from September 24 to 27, 2024, attracted participants from 30 countries, primarily owners and executives of real estate agencies. The symposium also delved into luxury housing trends under the Luxury Portfolio International program, available exclusively to selected LeadingRE members.
Philip & Frank, an independent real estate agency founded in 2014 by Filip Šejvl and František Jungre, specializes in the sale, rental, and management of premium residential and commercial properties in the Czech Republic and abroad. The agency’s services prioritize personalized attention and top-notch quality to cater to the needs of their clients.
In conclusion, the commercial presentation and the discussions at the symposium offer valuable insights into the evolving landscape of the real estate market, emphasizing the importance of sustainability, cross-border investments, and technological advancements in shaping the industry’s future trajectory.