Leading Real Estate Companies of the World® (LeadingRE), the global network of premier real estate firms, has announced Las Immobilien as the latest member of its professional network.

As an invitation-only business-to-business real estate community, LeadingRE is the world’s most established real estate network, with 550 quality-focused firms and more than 138,000 sales associates in 70 countries worldwide. The company interconnects top local and regional real estate firms across the world and supports their success with best-of-industry assets, like referrals, exclusive events, elite training and education, marketing and technology resources, and support.

For over 30 years, Las Immobilien has brought expertise and innovation to the Antwerp property market. A family business into its second generation, the firm is known for representing the city’s most prestigious properties in the most desired neighborhoods, now catering to a wide range of international clientele.

The announcement comes at an exciting time for the Antwerp market, which has shown record high value real estate transactions in recent years. The city’s stunning architecture and world-renowned interior design is supported by its buyers’ willingness to embrace modern technology.

Chris Dietz, president of Global Operations at LeadingRE, commented: “We are thrilled to welcome Las Immobilien to our ever-expanding community of industry leading professionals. Las Immobilien is a clear market leader in Antwerp, a market that has all the ingredients for an exciting and dynamic 2024. We believe enhanced clarity on inflation and interest rates will boost transaction activity in Antwerp and other leading European cities this upcoming year.”

Benjamin Las, founder and CEO of Las Immobilien commented: “We join LeadingRE at a time where clients increasingly appreciate international exposure for their properties. We have specialised agents with many years of experience, including those with ESG and legal backgrounds. This puts us in a unique position to advise our clients across all fronts, and LeadingRE is the ideal partner in the growth path of our agency, connecting us to other market-leading firms around the world. We are dedicated to strengthening our position and quality of our services in an ever-evolving market to ensure our clients achieve success in their real estate ventures.”

Selected companies in the LeadingRE international network are recognised for their expertise and superior knowledge of both local and global markets. All LeadingRE members are vetted, not just for performance, but also for a continued commitment to quality customer experience.

Read More

LeadingRE member Filip Sejvl of Czech luxury property agency Philip & Frank talks us through property market trends in Prague and beyond, as published by PrimeResi (subscription).

 

 

 

By Filip Šejvl, Founder and CEO of Philip & Frank s.r.o, a member of Leading Real Estate Companies of the World

 

The current residential real estate market in Prague and the wider Czech Republic offers an encouraging mix of stability and anticipation for what is to come, writes Filip Sejvl, Founder and CEO of Philip & Frank and member of LeadingRE. The average new home price per square metre is approximately 140,000 CZK (c.£4,830), reflecting a market that has remained resilient despite facing challenges – and still good value compared to other European hubs.

While the country grapples with high-interest rates of around 6%, and a decline in the number of property sales, Prague’s real estate prices have remained consistent in the past 12 months. The expectation for 2024 is more activity, with an anticipated decline in interest rates expected to lead to an increase in sales and property prices.

In terms of property types, Prague’s unique character as an old historic European city has a considerable influence on the market. Attractive condos in typical historical buildings are the most sought-after homes within the city, while single-family homes and modern apartments dominate the suburban areas.

Buyers in Prague often prioritize specific features and amenities, such as open-plan kitchens, smart home technology, and built-in storage solutions. The city’s compact layout, characterized by narrow streets and a busy downtown, emphasizes the importance of having amenities within walking distance to avoid traffic congestion.

Several trends shape the wider Czech real estate market. Over the last five years, home prices in the country have risen by a substantial 64%. The recent increase in interest rates, coupled with a decrease in demand for property purchases in Prague, has created pressure on the rental market. Czechia stands out with a high percentage of people living in their own homes, but the current pricing trends may influence this dynamic.

One notable trend is the emergence of large real estate funds focusing on the rental market, with a focus on building expansive rental residential areas and apartment buildings.

Foreign investment plays a significant role in the Czech real estate market, particularly in Prague. The city’s historical monuments, rich culture, low crime rates, and robust tourism make it attractive to investors from Western European countries such as Germany, Italy, and France. However, there has been a shift in recent years, with Russian investors withdrawing from Prague due to the ongoing war in Ukraine. For foreign buyers considering investing in the area, the advice is clear: focus on properties in the famous and historic downtown area of Prague, as prices are expected to remain stable or even increase further.

Although no significant legislative changes regarding real estate transactions are anticipated in Czechia, potential regulations for short-term rentals of apartments or condos, similar to those imposed on hotels and accommodation services, may emerge in the near future.

The allure of living in Prague is multifaceted. The city’s rich culture and history, coupled with an efficient public transportation system and low crime rates, make it an amazing place to call home. Compared to other major Western European cities, Prague still boasts attractive property prices.

Read More