New housing is still one of the safest investments in the Czech capital

Despite the scarce supply of new housing in Prague, there are some attractive properties below the average market price. Staff

Written by Staff Published on 19.04.2022 17:00:00 (updated on 20.04.2022) Reading time: 3 minutes

How to protect your savings is an increasingly important question. The conflict in Ukraine will have major macroeconomic effects, and the closer countries are to Russia, the more their economies will slow down.

The beginning of the year already brought an energy crisis that triggered a domino effect of rising prices, and the Organisation for Economic Co-operation and Development (OECD) has warned of further increases.

There are many options to protect savings, such as fixed-term deposits, mutual funds, stocks, or even cryptocurrencies. However, in times of uncertainty, one of the safest ways to protect assets has always been real estate. While the value of money is declining, real estate is doing the opposite. It is an asset that can generate returns in addition to increasing its value.

According to the latest surveys, in the last year sales of new apartments in the capital have risen by 28 percent and their price has increased by almost 30 percent year on year. New housing, especially in Prague, is a scarce commodity. Last year saw the lowest supply of new flats in a decade.

Two apartment buildings currently are under the average price for the Prague market: Juliett and India in Prague’s Kbely district. Both are being prepared by Skanska Reality. The favorable price is guaranteed to be fixed. It will remain the same from the signing of the contract until you move in. The increasing prices of building materials will not be reflected in the price of the apartment.

In addition, through its subsidiary HypoSka, the company offers the option to defer 90 percent of the mortgage payment until after the new home is completed. This gives the client over an extra year in which to save some of the cash and start paying the mortgage just before moving in.

This is the third phase of the Albatros Kbely project, which will provide ideal housing for young families. The emphasis is on sustainability and quality public space, which will include a kindergarten, playgrounds, a cycle path with a workout zone, a green park, public barbecue areas, and a supermarket. 

All the apartments will be built in accordance with BREEAM certification, which assesses sustainability. They will save 32 percent more energy than required by current legislation, while reducing water consumption by 25 percent. People can choose from 96 new homes with a predominance of 2+kk and 3+kk layouts. Larger families can also choose 4+kk apartments on the top floors with their own terraces. The apartments have practical and efficient use of space, which is very airy and light.

The entire project uses blue-green infrastructure features and technologies that, in addition to efficient energy use and stormwater management, also ensure biodiversity protection, the use of healthy materials, and efficient waste management.

Skanska has also placed great emphasis on quality public space and this year will complete a kindergarten, which will subsequently be operated by the district. The first playground will also be completed this year. In addition, a large green park will be created in the immediate vicinity with a flowery meadow, trees lining the streets, and lawns interspersed between the houses.

The Albatros Kbely project will offer 652 residential units in 11 apartment buildings on an area of 98,089 square meters. It will be built in five phases, with the completion of the first phase planned for autumn this year. The project was named after the legendary Aero L-39 Albatros trainer aircraft, which is on display in a hangar at the nearby Kbely Aviation Museum.

Aviation-related themes permeate the extensive public space. Individual apartment buildings are named after the international aviation alphabet: Alfa, Bravo, Charlie, Delta, Echo, Foxtrot, Golf, India, Juliett, Kilo a Lima.

This article was written in cooperation with Skanska. Read about our sponsored content policy here.

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