In the past year, the real estate market was expected to take a financial hit due to government measures.
This was not the case however as made evident by data from the real estate server Bezrealitky.cz which services the Czech Republic and Slovakia.
Data from their report found that there was no significant loss of revenue and they even experienced a high margin of profits during 2020 as last year alone they leased 47000 properties at a 35 percent increase for from the previous year.
The company is known for the direct sale and leasing of properties which benefits the consumer because it cuts out the middle man and avoids any intermediary parties. Those seeking housing can use Bezrealityky.cz to avoid paying agency fees.
The company has seen massive growth because of its intuitive and user-friendly website. The site includes virtual tours, online contracts, and digital signatures making buying and leasing a property a much less complicated process. It is an ordeal that has now been made entirely digital and remote.
Because of enforced border restrictions and lack of tourism, rental prices in cities like Prague have generally stagnated. Many flats intended for tourism have stood empty and companies like AirBnB have unable to operate effectively.
AirBnB paid their hosts worldwide an estimated six billion crowns to cover their losses during the pandemic with an additional 10 million 250 million crowns given to its “super hosts”.
Bezrealitky secured the sale of 6,775 properties with a total value of 32 billion CZK: 5,301 apartments and 1,474 houses. The average price of real estate sold on the portal exceeded six million crowns, a year-on-year increase of 40 percent.
The growing number of rents and sales influenced the company’s financial results. Revenues rose by a quarter from 40 million in 2019 to last year’s 50 million CZK. Bezrealitky increased its net profit by a third, reaching almost 20 million CZK.
“This year we want to significantly expand the range of services. Our ambition is to become a comprehensive real estate service that can offer solutions to property owners and those looking for housing,” CEO Hendrick Meyer of Bezrealityky.cz said.