Svoboda & Williams Opens Permanent Office in Karlovy Vary

“The Karlovy Vary Region has an enormous potential. It boasts a long spa tradition, but tourists also come here to explore its beautiful countryside. In three years, the strategic D6 highway, connecting Karlovy Vary to Prague, will be finished and under discussion is the establishment of a university. All of these are important steps that will help galvanize the local economy, which should translate into higher property prices,“ says Prokop Svoboda, owner of Svoboda & Williams.

The agency has been active in the region for a long time, in fact. “We brokered the sale of several trophy properties, including the Baťa department store and the Postal Court, both located in Karlovy Vary,” Svoboda adds. With the departure of Russian capital from the region, a number of interesting properties have appeared on the market, offering an attractive opportunity for quality redevelopment aimed at a new clientele. “I believe that Karlovy Vary will once again acquire the status of a popular spa and holiday destination for the domestic elite, the kind that it enjoyed in the 1920s and 1930s,” says Magdalena Rouha Svatková, senior property consultant at Svoboda & Williams.

There are already significant Czech investors in the city who have openly declared their interest in further developing the local spa tradition. “A house on the Colonnade is a trophy property—a prestigious jewel in the portfolio of any elite investor,” states Svoboda. Moreover, demand for premium residential housing with Western standards is steadily rising, while the price of land remains favorable. “We see a great potential in this segment not only in Karlovy Vary, but also in the entire spa triangle and in other locations that have already been or are currently being revitalized, such as in the Sokolov or Cheb regions,” concludes Svatková.