The first COVID-19 case in the Czech Republic was confirmed on March 1st, 2020. Since then, more than a month has passed and it’s been 4 weeks since a state of emergency was declared. Despite these circumstances, Svoboda & Williams has adapted to the situation and provided its services in full throughout the month of March.
All of Svoboda & Williams’s teams are complete and continue to be ready to provide all of our services as usual. Every segment of the real estate market without exception had to adapt to the current situation. Svoboda & Williams’ real estate agents offer real-time video property viewings through video calls, and many clients have taken advantage of this option. Our residential rental and commercial leasing departments responded by offering Flexi Rentals and Flexi Office Management services that reflect the new market demands.
In March, the Residential Sales Department registered a 20-30% drop in demand. The number of newly signed reservation contracts also fell by about 20% in the same time period. We nevertheless consider this to be positive news. It’s a good market for opportunistic investors, who can now benefit from discounts that would normally not be available. Our Property Management Department saw an increase in client interest in their services. For real estate agencies, the situation is not as bleak as the media makes it seem. However, one thing is already clear: the post-coronavirus market will a buyer’s and tenant’s market, at least for some time.
