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Milunic and Gehry’s world-famous Dancing House. Photo © Jan Sokol

Welcome to Marathon Consulting Group’s first

residential market report covering Prague’s seem-
ingly limitless residential real estate sector. It is our
pleasure to invite to you to examine the wealth of
current data and expert analysis we have assembled.
In the twelve years we have thrived here in Prague,
we cannot remember a more exciting time to consider
investing in Prague and all it has to offer.
Warm regards,
John Breaux
Managing Director
Marathon Consulting Group, s.r.o.

1 Prague and the Czech Republic
5 Taxation
6 Legal
7 The Residential Market
12 Prague’s Core Districts Reviewed
16 The Beauty of Bratislava
16 About Marathon Consulting Group
Landlocked in the heart of Europe, the Czech Republic
(pop. 10.4 million) sits between Germany to the west,
Poland to the north, Slovakia to the east, and Austria to
the southeast. The country is composed of the regions of
Bohemia and Moravia, as well as parts of Silesia in the
north. Comprising a total area of about 79,000 square
kilometers, the Czech Republic is considered a mid-size
EU country. Its size is comparable to Austria or Ireland
and it would fit inside France seven times. One third of
the country’s citizens reside in the five largest cities of
Prague, Ostrava, Brno, Plzen, and Oloumoc.


Prague (496 sq. km with a population of 1.9 million) is the capital city and is situated
along the banks of the Vltava River in the geographic west-central section of the coun-
try. Other nearby EU capital cities includes Warsaw (515 km northeast), Vienna (310
km southeast), Berlin (340 km due north), and Bratislava (289 km southeast). Prague is
by far the largest city in the country, outsizing Brno 4:1 and Ostrava 3:1.

In Czechoslovakia in November 1989, the communist re-
gime was unseated after a series of student demonstrations
and strikes. As it was a nonviolent affair with no known
deaths, the events became known as the Velvet Revolution.
The country then gained further independence January 1,
1993, when it peacefully separated from the Slovak Repub-
lic, thus becoming the Czech Republic.
The Czech Republic is a formal member of NATO, the
United Nations and became a member of European Union
on May 1, 2004, along with nine other former Soviet bloc
countries. It is a pluralist multi-party parliamentary rep-
resentative democracy.


Prague Castle and Malá Strana in autumn. Photo © Stefan Bauer
The Czechs have traditionally benefitted
from their strong industrialized heritage
with a particular strength in engineer-
ing. Prior to World War II, Czechoslova-
kia was one of the 10 most industrialized
countries in the world. The restructuring
of the economy following the Velvet Rev-
olution has seen a decline in the impact
of traditional industries. The economy
has diversified significantly into a con-
stantly developing service-based model
including tourism, finance, telecommu-
nications, and retail.
Prague accounts for one quarter of the
country’s GDP and has attracted nearly
half of its FDI, despite having only one
tenth of the country’s population.


The population of the Czech Republic currently stands
at 10.4 million people. Last year was a substantial year
for population growth in the Czech Republic, with the
highest reported increase in population in over twenty-
five years. Prague’s current population is 1.2 million (1.9
million including its outlying suburbs) and the average
age of all Prague inhabitants is 41.8.
In recent years, there has been a noticeable increase in
the number of young buyers, many of who have found
long-term employment after completing their university
studies and therefore are increasingly interested in pur-
chasing property. These same potential buyers are mar-
rying and having families, thereby increasing the aver-
age size of dwelling.

Sunset over St. Mikuláš church in Louny, northern Czech Republic. Photo © Petr Kraumann
The Czech Republic is considered one of the most highly
developed and industrialized economies in the region. The
principal industries are machine building, iron and steel
production, metalworking, chemical production, electron-
ics, transportation equipment, textiles, glass, china and
ceramics production, brewing, and pharmaceutical prod-
ucts. Its key agricultural products are sugar beets, pota-
toes, wheat, wine grapes, and to the delight of beer lovers
everywhere, hops.
Prague and Brno have, over the last decade, experienced
a shift from an industrial-based economy towards that of
a service-based model. Smaller regional cities’ industrial
output (specifically in the automotive sector) have spiked
FDI and contributed significantly to GDP growth.


At the onset of summer 2008, the Czech crown set a new
record of 23 crowns against the Euro and 14.5 against the
U.S. dollar. This gave Czechs tremendous buying power
outside of the country thus bolstering foreign travel and
purchases. The Czech postal service reports much higher
than usual foreign mail order purchases, especially those
originating in the United States.

The colors of money. Photo © James Lambert


The Czech economy has been one of the healthiest in Central and Eastern
Europe. GDP growth tops 5 percent, the trade balance is well within reason
and inflation, with the exception of the last few months, has been low. Direct
foreign investment has been healthy, and the EU is injecting the economy with
billions of euros in development aid.
Major threats to the crown’s current value, however, include a decline in for-
eign investments, continued instability in world markets, and slower growth at
home. It should be noted, however, that in an effort to stabilize the crown, the
Czech National Bank board, at their August 7th meeting, unanimously voted
to lower the key interest rate from 3.75 percent to 3.5 percent. The currency
consequently weakened to 24.11 to the euro before settling slightly stronger.
It is estimated that the crown will settle at around 25 to the euro and there
might be another rate cut.
Overlooking Staré M ěsto and Malá Strana from Letná Park. Photo © James Lambert

In 2007 the gross nominal monthly wages were CZK
21,692, or about EUR 870. Over the next two years this
figure is expected to increase by 7,5% per annum, placing
the Czech Republic ahead of the pack when compared to
other bloc countries such as Poland, Slovakia, and Hun-
gary. As impressive as this seems, the Czech Republic’s
average salary still pales in comparison to other neigh-
boring EU countries such as Austria (49% of the aver-
age Austrian salary, approx. CZK 76,000) and Germany
(51%, approx. CZK 73,000).

More money, more shopping, higher GDP. Photo © Getty Images and Mike Kemp


Dating from the beginning of 2008, capital gains on the
sale of property owned by a legal entity are subject to the
standard corporate income tax rate of 21%. This number
is reduced to 15% when concerning foreign property in-
vestors who have owned the property for less than five
years and who have resided legally in the property for
less than two years. Capital gains realized by a foreign
owner on sale of shares of a Czech legal entity to another
foreign entity are generally outside the scope of Czech
corporate income tax. Individuals are then subject to the
standard income tax rate of 15%.
The real estate transfer tax is set at 3% of the selling price
of a property, or its officially assessed value, whichever
is higher. This tax is normally payable by the vendor
and the buyer acts as the guarantor. There are exemp-
tions to this transfer tax, but they deal mainly with par-
ticular types of transfers, such as in–kind contributions
to share capital and with company reorganizations.
The transfer of land is exempt from VAT except in the
instance of land with building permits issued on them.
In this case the VAT jumps to 19%. A building deed that
is transferred after three years of acquisition (or approv-
al of use) is VAT-exempt as well. VAT is levied at the
standard rate of 19%, however, on all properties over
120 m2 that are sold or leased.
Refurbishment of residential buildings and the transfer
of residential buildings that qualify as “social housing”
is subject to the reduced 9% VAT. Social housing is de-
fined as residential units not exceeding 120 m2 and de-
tached houses of up to 350 m2. If the residential project
is sold as whole, the lower VAT rate only applies if the
rest of the building is also “social housing,” which means
every unit must be within 120 m2 of floor space.

Living the modern life above Smichov, Praha. Photo © James Lambert


Full ownership (or vlastnické právo) is the most common form of
ownership. This “freehold” title enables the owner to exercise stan-
dard ownership rights on a property. Easements (věcné břemeno)
and leases (nájemní právo) are also available. Cooperatively owned
apartment buildings (društvo) can be owned by the residents who
live there. All titleholders in this instance own a share of the build-
ing but none of the residents owns an individual flat.
Foreigners from the United States and the EU are allowed to acquire
real estate directly from sellers if they possess a long-term EU resi-
dency permit. If not in possession of a long-term residency permit,
these people may acquire property through the establishment of a le-
gal entity known as an S.R.O. (společnost s ručen’m omezeným). The
foreigner may own 100% of this entity, which in essence is a limited
liability corporation.
Property is registered through a system known as the Cadastral Reg-
istrar (“Katastr nemovitostí”), which details a property’s ownership
and any liens or mortgages on it. Any servitude on a given property
is entered in the Cadastral Registrar on the date an application is
filed to transfer a title. Conversely, anyone may check for liens on a
property with the Cadastral Registrar before applying for a transfer
on any property entered into the system after the January 1, 1993,
the date of the Czech Republic’s first date as an independent nation
following its split from Slovakia. This database is online, which fa-
cilitates research for prospective buyers.
Leases on property are subject to certain mandatory provisions of
the Civil Code and the Act on Lease and Sublease of Non–Residen-
tial Premises. Recent amendments have increased the contractual
freedom to lease non–residential premises. Additionally, rent control
will be abolished in 2010, following two years of regulated 20% in-
creases on controlled dwellings, as permitted and encouraged by the
Czech government.
There is a comprehensive reprivatization law in the Czech Republic
and all deadlines for claiming ownership have expired. Certain prior
proceedings may still be pending. These are to be listed in the Ca-
dastral Register.


The Czech Republic experienced a real estate boom over the last several
years, and 2007 was no different. This dynamic progress in housing de-
velopment has been catalyzed by the improving economic situation of citi-
zens and resultant demands for higher standards of living and housing.
One key factor for the positive trends in housing development, according
to our professional experience and supported by the Czech Statistical Of-
fice, is the continued favorable mortgage market – even with an increase
in base mortgage rates, potential buyers continue to look for new housing
Prague continues to be the epicenter of the booming Czech market al-
though a shift to other regional cities is being seen. Prices on flats in
Prague grew over 15% on a citywide average last year, outpacing 2006’s
already impressive 12.5% growth. In 2007, the most impressive growth
within Prague was situated outside of the central districts. These tradi-
tionally overlooked areas (Prague 9, for example) wowed market watchers
with, in some cases, up to 30% increases while the more established cen-
tral districts posted modest increases closer to 10%. It is our opinion that
overall growth will continue to slow and stabilize in the center of Prague
in 2008 and beyond. We do not expect any price declines, however. Year-
on-year growth will, more than likely, level off to somewhere between 6%
and 8%. Prague’s positive market conditions continue to enthuse buyers
and developers alike, however, and many new interesting projects (and
opportunities) are underway.
According to government statistics, 47% of flats in the Czech Republic are
privately owned, 17% are owned by building cooperatives, and 29% are for
rent. The remainder is social housing segment or company-owned flats.
Prague’s once robust rental market may be showing signs of softening.
The Regional Development Ministry reported recently that the average
advertised rents in a number of regional cities are stable or slightly de-
creasing. This includes Prague and its environs. Owners of rental proper-
ties, including those in the center, have seen stable to slightly decreased
rental prices. There is one exception, apparently. Demand has shifted
more toward smaller flats in the range of 50 to 70 square meters, and
prices within this sector appear to remain strong with signs of growth.
The ministry, as well as many industry experts, also expects that market
rents will drop further in many parts of the country. “After 2010, when
rent control will be abolished, the currently unregulated rents will de-
crease as those flats that are so far rent-stabilized will enter the market,”
says Hynek Jordán, spokesman for the ministry.


According to recent government statistics, a total of 171,383 dwellings were
under construction as at March 31, 2008, representing a 1% (+1,730 dwell-
ings) increase year-on-year. Slight more than half of dwellings under con-
struction was family houses (50.2%), only 1.3% were converted non-residen-
tial spaces (1.3%).
In the first quarter of 2008, 9,158 dwellings were completed, i.e., a year-on-
year growth of 9.8% (+821 homes). The highest increases were registered
for flats completed in family houses (by 22.1%, i.e., +813 homes), homes
completed as extensions to multifamily buildings (by 51%, i.e., +157 homes)
and homes in converted non-residential spaces (by 37.4%, i.e., +71 homes).
Decreases were recorded for homes in multifamily buildings (by 3.0%, i.e. -
102 homes) and homes in community care service homes and boarding hous-
es (by 57.4%, i.e. -93 homes).
While the delivery of new homes and flats appears to continue almost un-
abated, demand for them has become sluggish by as much as 20% from this
time last year. This is particularly evident in the lower price range and in
less desirable locations, as buyers have become more demanding in terms
of locations (i.e., proximity to public transportation is important) as well as
the finishes and equipment they expect. Demand at the upper-mid level and
luxury markets remains relatively strong.

Open floor plans are more common in today’s flats. Source: Marathon Consulting archives


The table above shows the average size of flats in the Czech Republic accord-
ing to the Czech Statistical Office. Dwelling sizes have increased in recent
years from an average of 60 m2 to 70 m2 as family size increases. The aver-
age number of occupants level now rests at 2.75 people per dwelling.
An awe-inspiriing example of panelák living in Prosek, Praha. Photo © Packa
A full one-third of the Czech Republic’s housing supply is in the
form of Panelaks, high-rise communist-era block apartments. Un-
less they have been renovated, they are often unsightly and out-
dated and are increasingly viewed with disdain by younger Czechs.
Insufficient maintainance repairs and construction deficiencies
have accumulated to the point that an estimate for repairs on
the nation’s panelaks approaches CZK 500 billion (approximately
EUR 18 billion).
In 2007, the EU provided to the Czech government a grant to im-
prove conditions in especially hard-hit areas. CZK 3 billion in aid
from the EU and the Czech government will not halt the migration
of young buyers away from the panelaks of their youth. This mi-
gration, however, does bode well for developers and investors.
Since before the fall of communism, regulated rents in the Czech
Republic have been a necessary blessing and burden. One aspect
is not in dispute, however; regulated rents have hindered the
rental market’s economic efficiency. Twenty percent of all rent-
als (760,000 units) fall under pricing regulation and beginning
last January 1st, effective changes made to regulated rental law.
Since then, these long-static prices have increased sharply (29%)
and will continue to do so as time marches forward towards 2010,
when parity is achieved.


2007 was a banner year for the nation’s mortgage lenders, regis-
tering almost 78,000 loans totalling nearly CZK 148,000 million,
up 28% from 2006. The standard real estate practice is to trans-
fer the majority (85% or more) of the purchase price to the seller
upon the signing of the final purchase agreement. This benefits
both parties, thanks to the typically high LTV ratios, although
this practice is meeting increasing opposition in other markets.
The Czech Republic currently has the lowest interest rates in
the Eurozone. In the longer term, however, rates will approach
those within the Eurozone. As a result, this has encouraged many
Czechs, especially young people (65% of current applicants), with
little or no savings to purchase their first home. Four out of every
five buyers purchase their home with at least partial assistance
from a mortgage.
Because of the current US credit and housing crisis, Czech banks
are taking a cautious approach and imposing stricter loan approv-
al conditions. This is in an effort by the banks to stem any future
losses. Any applicant who, with limited income, may have qualified
just a year ago might find it more difficult today under the tighter
guidelines. Many believe, however, that Czech salaries are still
growing and that the new rules will not have such an impact.
And while getting a mortgage seems to be more difficult, the market
for home-building savings has been growing steadily since the be-
ginning of the year. Building societies are reporting a 20% growth
in the business since the beginning of 2008, while mortgage lend-
ers report the same percentage decline. It should be noted, how-
ever, that the average loan from building societies is about CZK
500,000. Proceeds are generally used toward home reconstruction
and not necessarily for the purchase of a new home or flat.
The recent boom in the nation’s real estate market cannot and will
not last forever, but a “bubble” does not exist and there should not
be any backslide in current values. The market, however, is un-
able to support continued growth given the current pace.
Since its entry into the EU, the Czech Republic has experienced
phenomenal gains, peaking in 2007 at a national average of 16%.
Look for this figure to begin to fall in 2008 but rise again as we
approach 2012, the proposed (though unlikely) date of adoption of
the Euro.


Prague’s neighborhoods are numerous, unique and varied. Luckily,
all of them fall into one of the four concentric residential “zones”
that emanate outward from the center of the town. First there is
the city center itself, downtown Prague, comprised mainly of the
popular commerce and tourist districts of Staré M ěsto (Old Town)
and Malá Strana (Lesser Town). Circling the center is a populous
“central ring” of residential neighborhoods, which includes Vino-
hrady, Žižkov, Letná, Holešovice, Smichov and Karlín.


The panorama to Prague and the Vltava River is nothing if not spectacular. Photo © Lukáš Hron

Further still from the city center are the less affluent (but some-
times equally desirable) areas that comprise the spacious remain-
der of the city limits and beyond that are the city outskirts and
newly-popular satellite suburbs such as Libeň and Vysocany in
Prague 9.
Along with an overview of these areas is information on average
sale and rental prices. These are estimated using 68 square me-
ters as the average size. Sale price averages includes both existing
and new build sales.
The picture-postcard heart of the city is reflected in its hefty real
estate prices across the board. Heritage Preservation laws almost
exclusively protect Prague 1 and as such redevelopment and new
construction is rigorously constrained. This, in turn, drives prices
up even higher. Foreign buyers dominate the market here, and
typically local Czechs are unable or unwilling to match the high
market demands. The stunning architecture and cosmopolitan
lifestyle, however, often prove irresistible to many buyers once
they hit the pavement.
Average Sales Price : 8.2 million CZK (about 120,000 CZK/m2)
Average Rental Price per Month : 27,200 CZK (400,- CZK/m2)


The vast majority of today’s buyers will purchase flats in one of
these attractive districts. All of these neighborhoods border (in
one way or another) the city center and are considered the silver
standard for modern Prague living. The neighborhoods are typi-
cally quiet (Žižkov has proven to be a bit of an exception here)
and are well serviced with plenty of shopping, entertainment, and
public transportation.
While posting lower average prices than Prague 1, these neighbor-
hoods are very strong performers and are often considered first by
potential buyers thanks to the high quality of life and convenience
they can provide.

The Vinohrady Water Works on Korunni Street in posh Vinohrady. Photo © ŠJů
Vinohrady (Prague 2) is by far the cream of the crop of all of
Prague’s neighborhoods. The district is quiet, beautiful, and af-
fluent. Shady sidewalks and bustling bars, cafes and restaurants
combine to form an unforgettable living experience. Vinohrady
also boasts two of the city’s most beloved parks: the sprawling
Riegrovy Sády and the Havličkovy Sády, which overlooks the vast
Nusle Valley. Vinohrady’s treasures don’t come cheaply. Prices are
higher than other “ring” neighborhoods, but perhaps not surpris-
ingly the district’s continued growth (an impressive 15% over the
last year) is a testament to its allure.
Average Sales Price: 5.4 million CZK (about 79,000 CZK/m2)
Average Rental Price per Month: 20,400 CZK (300,- CZK/m2)


A beautiful study in architectural contrasts in Žižkov. Photo © Tismey

Žižkov (Prague 3) is a bit of an anomaly. Part of the
district is every bit as posh as its neighbor, Vinohrady,
while other less-fortunate pockets remain stuck in “up
and coming” mode. Žižkov is one of Prague’s most vi-
brant places to live and its values will continue to climb
no matter the location. The district saw 16% growth last
year. This trend looks to continue into 2009 as buyers
snap up more of the affordable existing housing stock
and as several new developments begin to come online.
A bit of research goes a long way in this neighborhood, as
there are deals to be had almost everywhere in Žižkov.
Average Sales Price:
4.6 million CZK (about 68,000 CZK/m2)

Average Rental Price per Month:

18,360 CZK (270,- CZK/m2)


Karlín and Libeň (Prague 8) experienced widespread
devastation during the floods of 2002 and are still
recovering, albeit with gusto. The flooding afforded
the districts an opportunity to re-brand themselves,
and these areas have taken full advantage over the
past six years. Walking through Karlín is now a
more pleasant experience and is an excellent way
to get a feel for this neighborhood. Broad, uncrowd-
ed streets, a burgeoning nightlife scene, abundant
parks and many new shops and businesses are sev-
eral reasons to consider Karlín. The best reason of
all may be Karlín and Libeň’s riverfront location,
just a few short tram stops from the city center.
Values jumped almost 8% last year and will contin-
ue as more people discover all that these districts
have to offer. It is our belief that Karlín and Libeň
may be the best bets for those seeking a long-term
residential investment.
Average Sales Price:
4.4 million CZK (about 65,000 CZK/m2)

Average Rental Price per Month:

17,950 CZK (264,- CZK/m2)


The Danube House reflects Karlín’s new look. Photo © Hynek Moravec
Holešovice (Prague 7) is a large district located across
the Vltava River to the north of the center of Prague.
Its topography varies greatly and there is much to offer
potential buyers. Its legacy as an industrial city center
remains visible, but increasingly these parcels are ripe
for redevelopment as modern loft-style on water front
residences. Closer to the center, residents of Holešovice
are afforded stunning views of the Prague skyline from
the cliffs above the Vltava. Park Letna may be the most
breathtaking overlook in all of Prague. The beer garden
there is a living landmark for locals and tourists alike.
In many ways, Holešovice is the antithesis of posh Vino-
hrady and benefits greatly because of it.
Average Sales Price:
4.6 million CZK (about 68,000 CZK/m2)

Average Rental Price per Month:

17,000 CZK (250,- CZK/m2)
The grounds of Troja Castle offer a serene view to Holešovice. Photo © Packa

Just south of Malá Strana on the western side of the
Vltava lies the Smichov district of Prague 5, a beauti-
ful, busy district as varied as Prague itself. Rising up
from the riverfront into the hills high above the city,
locals can experience both urban and truly suburban life
in one neighborhood. The focus of a huge redevelopment
push earlier in the decade, Smichov’s local economy has
benefited greatly from these efforts. Property values
have jumped over 20% annually since 2006, the highest
increase of any “ring” district. The area is flush with
excellent shopping and services and an impressive clus-
ter of entertainment and transportation options. The
district is not without a few trouble spots due to heavy
commerce. Nevertheless, Smichov remains an oft-over-
looked gem in Prague’s crown worthy of every prospec-
tive buyer’s consideration.
Average Sales Price:
5.44 million CZK (about 80,000 CZK/m2)

Average Rental Price per Month:

18,500 CZK (272,- CZK/m2)

Smichov’s bustling shopping mall draws thousands daily. Photo © Honza Groh
Dejvice (Prague 6) is an affluent neighborhood located diametri-
cally across the city from its “sister” district Vinohrady. Often con-
sidered an older, quiet area, Dejvice is home to some truly impres-
sive manors and most of the capital city’s national embassies. The
quality of life here is high, and it comes at a price. Several notable
foreigners’ schools and easy access to Prague’s airport make De-
jvice the district of choice for wealthy businesspeople and diplo-
mats. Dejvice is also home to the spectacular open space known
as Divoka Šarka (Wild Sarka). This vast natural playground finds
many Praguers visiting year-round and remains a treasured pre-
serve amidst the urban development. The good news for the aver-
age buyer is that Dejvice has a share of increasingly renovated
panelaks that offer good value in a truly excellent location. Prop-
erty value increases were in line with much of the city at 15%.
Average Sales Price: 5.23 million CZK (about 77,000 CZK/m2)
Average Rental Price per Month: 17,000 CZK (250,- CZK/m2)

The Vysočany district of Prague 9 served as a manufacturing site
for locomotive producer CKD, the Praga car factory, a Kolben fac-
tory and Avia Aero among others. It reached its peak during World
War II and continued well into the 1950s. A restructuring of the
city’s industrial zones since the early 90s has driven a number of
factories out of business and literally cleared the air. The facto-
ries were slowly replaced with office parks, and new residential
developments began filling the vacant parcels. The main boule-
vard, Sokolovska, has been restored, adding to the gradual gen-
trification of the entire neighborhood. Vysočany is home to the O2
Arena (originally Sazka Arena), a world-class indoor sports and
entertainment stadium, as well as a new indoor ice-skating rink
currently under construction that will be opening shortly. There
are many local shops, including the new Fenix Hotel and Shopping
Center (with one of the largest congress facilities in the city) and
restaurants, affording a true neighborhood experience. A Metro
(subway) line as well as several tram lines will help the district
grow, as many budget-conscience buyers look specifically for loca-
tions in close proximity to public transportation. These service get
local residents into the city in well under 30 minutes.
Average Sales Price: 3.4 million CZK or about 50,000 CZK/m2)
Average Rental Price per Month: 15,000 CZK (220,- CZK/m2)


The “Blue Danube” flows gently through red-hot real estate in Bratislava. Photo © Stano Novak


Bratislava, “the beauty on the Danube,” as she was once called, is on its way
to regain that title as the real estate market in Slovakia is literally going
through the roof.
Bratislava’s recently renovated old town is complete with baroque palac-
es, thriving squares and a youthful exuberance combined with big ideas
and possible large investments. Investors are increasingly attracted to this
once-noble capital and are convinced it will be revived in the next ten years.
As such, they are willing to put their money to the test, with all segments of
property facing development by local companies and world-renowned compa-
nies such as Ballymore. Properties in every segment are being identified all
over the city, from shopping centers with new and interesting restaurants
and pubs to offices. Following the commercial boom which is aimed at ac-
commodating companies moving into the city, new residential construction
comes in a very close second. Plans to revitalize the banks of the Danube to
its original grand style, together with the arrival of major companies such
as Heitman and Axa in the city only make Bratislava a more sought-after
real estate player on a global scale. Moreover, investors also have plans to
expand the lively old town, renovating more historical buildings and extend-
ing the quarter toward, and perhaps along, the river. The old Communist-
era factories will disappear and be replaced by attractive, modern, commer-
cial and residential loft developments that will bring life to the center.
The construction boom in Slovakia is the result of the thoughtful econom-
ic reforms of the government from 2002 to 2006. The impressive economic
growth will be most evident in Bratislava, with other regional cities taking
up the slack. In the not-too-distant past, mentioning Bratislava wouldn’t
even raise the interest of investors or developers. Today, however, this ro-
bust capital is one of the most rewarding investment locations in Europe.


Marathon Consulting Group is a real estate sales and marketing company
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Our team is at your disposal to provide you with constant support, up-to-date
competition reports, market analyses, innovative marketing ideas and creative
solutions. We customize our service to suit each builder’s individual needs and
We are very goal oriented at Marathon and our experts who know what to fo-
cus on. You want your project sold out as quickly as possible and at the highest
prices possible. So do we! This requires specialists who know the secrets and
nuances of successful project sales and marketing because this is what they do
every day.
• Finding the key features and benefits of your project and using
• them as incredibly powerful sales tools;
• Identifying who your buyers are so you can design your project for maximum
• appeal;
• Locating your buyers quickly and cost effectively.
Everything associated with your marketing and sales program must be linked
together with the goal of making sales; otherwise it is a waste of your time and
money. The sale center’s design, advertising, direct mailings, signage, staffing,
and systems are not stand-alone items but integral parts of a larger picture
that come together into one package that says “Buy Here!”
• Experts who specialize only in project sales and marketing to minimize •
• risks and maximize results;
• Integrated sales and marketing efforts to produce the quickest,
• most cost-effective sales;
• Clearly defined and managed plans so you are always in control;
• Customized programs capturing unique features and benefits to
• maximize sales appeal;
• Faster sales to reduce carrying costs and risk.
For more information feel free to contact us at info@marathon-group.cz