Real Estate

REAL ESTATE: Over 250 New Apartments Rising Next to Želivského Station

Construction has begun on Kappa, a new residential building in Prague’s Hagibor district, located directly next to the Želivského metro station. Developer Crestyl Group launched the project in October, with Metrostav DIZ serving as the general contractor. Completion is expected by the end of 2027. Kappa will be the fifth residential building in the Hagibor complex, which is gradually transforming the area into a modern urban quarter. The project aims to combine housing, offices, shops, and services within one integrated neighborhood. The new building will feature more than 250 apartments, ranging in size from 27 to 180 square meters. The design includes compact one-bedroom units on lower floors and larger family apartments with balconies on the upper levels and recessed towers. On the ground floor, space will be reserved for shops, restaurants, and resident services, along with a reception area and courtyard for relaxation. Designed by Ian Bryan Architects, who are responsible for all residential buildings in the Hagibor development, Kappa will meet the BREEAM sustainability standards, emphasizing energy efficiency and environmental responsibility. The building will also include underground parking with electric vehicle charging stations. The public spaces for the Hagibor complex are being created by Michel Desvigne, a globally...

 by Prague Morning Nov 07, 2025

Reconstruction of Prague’s Kotva Department Store Delayed Until 2028

The long-planned renovation of Prague’s Kotva department store has been delayed once again. Generali Real Estate, which owns the landmark building on Náměstí Republiky, has moved the expected completion date of the reconstruction to 2028, extending the timeline by at least a year. The company initially announced that the extensive modernization, which began in February 2025, would finish by the end of 2027. “The rehabilitation of such a large and technically complex building is a long-term process that demands careful coordination and patience,” said Jana Vrábelová from Generali Real Estate. “We appreciate the cooperation of authorities, experts, and the public throughout this stage.” The next step involves selecting a main contractor for the full-scale reconstruction, which will include modernizing the interiors, expanding commercial and office space, and restoring the building’s architectural character. Plans envision six floors dedicated to retail and services, along with two floors of offices. While the façade will be replaced, Generali intends to preserve Kotva’s distinctive brutalist design, including its hexagonal concrete structures and communication towers. The building’s honeycomb-like grid, inspired by architectural structuralism, remains one of its most recognizable features. Kotva, designed by architects Věra and Vladimír Machonin, opened in 1975 as a symbol of modern...

 by Prague Morning Nov 06, 2025

GALLERY: Archistar Brings His First Czech Project to Prague’s Karlin

A long-forgotten stretch of Prague’s riverfront is turning into one of the city’s most ambitious urban developments. On Rohanský ostrov, between Karlín and the Vltava River, construction has begun on Rohan City — a modern neighborhood combining housing, offices, shops, and public parks. The project involves several Czech and international architecture studios, but its highlight will be the work of archistar Daniel Libeskind, a Polish-American architect based in New York and known worldwide for designing the master plan of the World Trade Center site after the 9/11 attacks. Libeskind’s Prague debut, named Sekyra Flowers, will feature four residential buildings with roughly 500 apartments. The developer Sekyra Group expects to receive final permits within the next 18 months. When completed, by 2035, the Rohan City project will offer around 1,650 homes, offices, retail spaces, and large green areas — with a total investment exceeding CZK 30 billion. Libeskind said the project represents his personal tribute to Prague, describing it as “an opportunity to create spaces that reflect openness, community, and the future.” Streets Inspired by Philosophers The plan includes a new public square, a park, and streets named after Czech and international philosophers. A National Center for Reading Culture with a...

 by Prague Morning Oct 15, 2025

Why Prague Lags Behind Europe in Affordable City Apartments

Prague has one of the lowest shares of municipal housing among Central European capitals, leaving affordable apartments increasingly out of reach for residents. According to a study by the Institute of Planning and Development of Prague (IPR), municipal apartments represent just 4.1% of the city’s total housing stock, with roughly 47 residents competing for each unit. The capital owns 29,836 apartments, a figure that has barely changed in recent years after decades of decline following post-1989 privatization. By comparison, Vienna controls 420,000 municipal apartments, and together with housing cooperatives, manages 42% of all homes in the city. Berlin has 370,000, while Warsaw manages 81,000. Even Brno, half the size of Prague, holds nearly the same number of city-owned apartments. Only Bratislava, with 1,870 units, ranks lower among neighboring capitals. Who Gets a Municipal Apartment? The Prague municipality directly manages about 7,250 units, which are primarily allocated to five groups: seniors, people with disabilities, households in social distress, young families, and workers in essential professions such as teachers, healthcare staff, police, and firefighters. A resolution passed two years ago set quotas: 10% reserved for seniors, 10% for people with disabilities, 20% for households in crisis, 15% for young families, and 35%...

 by Prague Morning Sep 17, 2025

Why Converting Offices into Apartments Could Be Prague’s Next Big Housing Solution

Every day in my work as a real estate consultant, I see the same problem: Prague doesn’t have enough new apartments to meet demand. Buyers face record-high prices, yet properties continue to sell because demand remains strong. This imbalance is pushing owners and developers to explore creative solutions. One trend, common in Western Europe and the US but only now emerging in the Czech Republic, is converting office buildings and hotels into residential spaces. A clear example is the Trianon office building near Budějovická metro station. Built in 2009, it offers over 20,000 square meters of rental space and is currently occupied by Česká spořitelna employees. Once the bank moves its headquarters to Smíchov, Trianon will be empty. Its owner, the real estate fund Reico, is already considering whether to sell the building or transform it into apartments. The idea makes sense. In Prague 4, where Trianon is located, several new office projects are in the pipeline, creating strong competition for tenants. Converting Trianon into housing would better reflect market reality: Prague needs homes more than it needs additional offices. This isn’t the first example of such a conversion in the city, but it would be among the first involving...

 by Alexandra Kurbanova Sep 07, 2025

Prague City Plans 600,000 m² of New Offices by 2029

Prague’s office market may expand by up to 600,000 m² of new space by 2029, according to Colliers. The city currently has 3.94 million m² of offices, but completions this year remain at record lows. Only 11,300 m² was finished in the second quarter of 2025, bringing the year’s total to 26,600 m². Despite the slow pace, construction is picking up: four projects started in Q2, raising the pipeline under construction to 212,600 m². By the end of 2025, five additional projects with a combined 119,500 m² are expected to start, all in Prague 4. This could move demand back to areas such as Pankrác, Brumlovka, and Roztyly, where new supply has been limited in recent years. “If at least half of the planned projects proceed, the market will finally get a much-needed supply of offices,” said Josef Stanko, Director of Market Research at Colliers. He expects most new completions between 2027 and 2029. Gross demand in the first half of 2025 reached 253,100 m², similar to recent years. Net demand was 97,400 m², almost equal to renegotiations and subleases (94,700 m²). Large pre-leases continue to shape the market. ČEZ secured three buildings in Smíchov City, while Creditas Bank began...

 by Prague Morning Aug 22, 2025

GALLERY: New Loft Apartments Under Construction in Prague’s Chodov

In Prague, the trend toward smaller apartments continues to dominate the real estate market, and the City Lofts Chodov project is responding to this demand with style. The development, known as City Lofts Chodov, is scheduled for completion with units available for occupancy in the last quarter of 2027. The seven-story building on Litochlebské náměstí, is designed with a segmented, crystalline facade that separates individual balconies and provides privacy for residents. While the exterior differs from typical Prague apartment buildings and may attract mixed opinions from architectural observers, it shares geometric qualities reminiscent of Prague’s historic cubist structures, though on a larger scale. Interior Layout and Design Apartments are planned with an industrial-inspired interior, allowing future residents to customize the space. The project includes penthouse units measuring up to 120 m², each featuring a terrace extending along the full length of the apartment. All units face south and include large floor-to-ceiling windows to maximize natural light. Residents will be able to access doors via QR code, summon elevators automatically, and enter the garage using license plate recognition. Location City Lofts Chodov is located within a five-minute walk of the Opatov metro station, with nearby bus stops providing additional public transport...

 by Prague Morning Aug 15, 2025

Prague’s Palmovka to Welcome 200 New Apartments by 2027

A new housing project called Near Living will introduce 212 modern apartments to Prague’s Palmovka neighborhood. Developed by the investment group Fidurock, the project breaks ground this September and is slated for full completion by the end of 2027. Conceived by Ian Bryan Architects, Near Living offers a clean, contemporary profile thoughtfully segmented into smaller volumes. The new development will feature a range of apartment configurations—from compact one-room units with kitchenette (1+kk) to three-room layouts (3+kk). Beneath the residences, underground parking will accommodate vehicles, while aboveground spaces will include a communal garden accessible to all residents. Construction’s main structure, or “rough completion,” is expected in the final quarter of next year. Final approvals will follow roughly a year later, paving the way for move-in readiness by late 2027. Palmovka isn’t the only area experiencing growth. Prague also sees development momentum on Rohanský Island and in the city center. “NEAR Living represents a key moment for our entire group, but we did not want to inform the public before we had all the necessary permits and could officially start construction,” says David Hauerland, Managing Director of Fidurock. “This is our first major development project with a building permit. Details on layouts,...

 by Prague Morning Aug 13, 2025

Prague’s Savarin Project Gets Green Light, Opening Planned for 2029

The transformation of a hidden courtyard behind Wenceslas Square has taken a decisive step forward. Developer Crestyl has secured a final zoning permit for the Savarin Project, paving the way for construction to begin in 2026 and for the site to open to the public by 2029. The redevelopment will connect Wenceslas Square with Na Příkopě, Jindřišská, and Panská streets, creating an open, accessible route through the city block. At its center will be a restored Baroque riding school, surrounded by a landscaped square with cafés, restaurants, and public seating. The design, by London-based Heatherwick Studio, marks the architecture firm’s first completed project in continental Europe. “This project is a matter of the heart for us,” said Crestyl CEO Simon Johnson. Public spaces will feature arcades, roof gardens, and leisure zones. Plans also include a multipurpose cultural hall, an art gallery—potentially housing the Slav Epic—and a barrier-free entrance to the Můstek metro station. One of the gastronomic highlights will be Time Out Market with around fifteen dining outlets, alongside retail spaces and a courtyard restaurant. The Savarin project’s first stage was completed last year with the full renovation of the Baroque Savarin Palace, which began in late 2021. The work...

 by Prague Morning Aug 12, 2025

GALLERY: Prague to Debate ‘Levitating’ Building on Revoluční Street

Plans are moving forward for one of Prague’s most talked-about architectural proposals: Revoluční 30, a modern apartment complex that would appear to “hover” above a centuries-old baroque building. In an international architectural competition involving more than 80 studios from all over the world, an independent jury selected the design by the Czech-French duo Peer collective and Studio Muoto from the top six finalists. If completed, the project would add a minimalist residential block with an open arcade at ground level, located directly above the preserved baroque structure. The design also introduces a publicly accessible walkway connecting Revoluční Street to the nearby Novomlýnská Water Tower — a space the developers hope will revive an overlooked corner of the city. The proposal is still in its early stages, with discussions underway between the developer, city officials, conservation experts, and local residents. The developer has also suggested transforming the baroque building — currently used by the Prague Services company — into a cultural or educational centre. This would depend on agreement with the city, which owns the property.   Location and history The completion or renovation of the Revoluční and Lannova corner area was already considered after World War II. At the site of Revoluční 30, there used to...

 by Prague Morning Aug 11, 2025

“Czechia Needs 60,000 New Apartments Each Year,” Says Expert

Czechia faces a housing shortage of roughly half a million apartments, with industry experts warning that housing construction needs to almost double to meet demand. Kamil Jeřábek, CEO of Wienerberger s.r.o., says the country should be building at least 60,000 new units annually for the next 15 years to match Western European housing availability. Current figures show that only about half that number are completed each year. Between 2006 and 2024, Czechia completed an average of 32,600 apartments annually. This falls well short of demand, contributing to rising prices and declining accessibility for buyers and renters. By comparison, Western European countries average 525 housing units per 1,000 people, while Czechia has just 484 – a shortfall of around 40 units per 1,000 residents. Jeřábek notes that interest rates remain a key barrier to homeownership. Buyers often consider 3.5% the “trigger point” to enter the market, but although the Czech National Bank has lowered its base rate to that level, banks are still offering mortgages closer to 4.5%. “We do not expect a significant drop this year, but rates could approach 4% early next year,” he said. Internal figures from Wienerberger’s Porotherm and Tondach brands suggest demand for building materials remains...

 by Prague Morning Aug 10, 2025

Prague’s Coworking Market Grows by 9% Year-on-Year

Coworking spaces in Prague have seen sharp expansion, with total shared office space now exceeding 144,000 square meters – a 9% increase year-on-year, according to a new analysis by Knight Frank. What was once a marginal offering on the office market now makes up nearly 4% of the city’s modern office space, and the trend is far from slowing. “Coworking offers a hybrid solution that fits post-pandemic work habits,” says Lenka Šindelářová, Head of Research & Consultancy at Knight Frank. “It brings together flexibility, community, and professional facilities. Companies benefit from the ease of leasing, scalable space options, and added services — especially in locations with strong transport links and high-quality amenities.” New Players and Projects Over the past 12 months, five major coworking centers have opened in Prague. WorkLounge launched two new locations: Žižkov (3,000 m²) and Dejvice (1,540 m²). Scott & Weber added Idea Hub (4,100 m²) and NR7 (4,630 m²), while Regus unveiled Signature OFFY (1,000 m²) in Prague 4. Looking ahead, more openings are already planned. Among the largest are Regus Lighthouse (1,500 m²) in Prague 7 and Dva Domy (1,000 m²) in Prague 8. Scott & Weber also plans to open PK8 (3,991 m²) in...

 by Prague Morning Aug 07, 2025

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