Rents of Luxury Apartments Soar

Clients are willing to pay higher rental prices mostly for attractive properties with views of Prague landmarks, with a high standard of equipment, intelligent technologies, sumptuous joint premises, as well as for apartments with a balcony, a terrace or the possibility of parking in the building. They also prefer architecture combining restored original elements with contemporary design features. The most coveted locations include Pařížská Street and its surroundings, Janáčkovo and Rašínovo embankments, Kampa, and also some parts of Vinohrady.

“Besides new apartments for rent, apartments well-entrenched in the market are also in high demand. This leads to the permanent deficiency of both types of properties. An apartment that appears in the market usually finds its tenant within several days, in exceptional cases several clients interested in the same apartment appear at the same time, which sometimes leads to a significant increase in the price, a result of a so called 'bidding war'", says Andrea Střechová, Head of Residential Rentals at Svoboda & Williams, commenting on the latest trend in the segment of luxury apartments for rent.