CREDITAS Real Estate has doubled its portfolio of rental apartments
CREDITAS Real Estate has been strengthening its position in the institutional rental housing market. It has expanded its existing portfolio of rental apartments with the addition of 100 new fully equipped units. Currently, it manages more than 200 rental apartments in four projects in the capital.
Institutional rental housing has become a standard part of the rental housing offer, especially in the capital. The majority of the rental market consists of private rentals (67%), while the portion of institutional rentals in the Czech Republic is still relatively small – around 7%. But that is now gradually changing.
“The growing interest in institutional rental housing is mainly due to the higher standard of the apartments offered, which are fully furnished in a contemporary style, due to significantly lower acquisition costs as compared to ownership housing, and also due to a change in the attitude of younger generations, who prefer greater flexibility and limited-term contracts. Institutional rental housing is also associated with a higher quality of services offered,” says Jiří Vajner, CEO of CREDITAS Real Estate, explaining the reasons for the growing interest.
CREDITAS Real Estate noted a huge interest from those interested in rental housing last March, when it launched 95 modern apartment units with premium quality furnishings and fixtures in the LOOX Prosek Apartments project. All 38 units in the Pobřežní Apartments project were leased very quickly in the autumn. In the autumn, there was just as much interest in the apartments in Lisbonská Apartments. There are 62 units offered in the project. The latest addition to CREDITAS Real Estate’s portfolio of rental apartments is the intimate Bořivojova Apartments project.
“CREDITAS Real Estate currently manages over 200 rental apartments in Prague. We want to increase this number still further in the coming years. We plan to build rental apartments mainly in Prague and Brno," Jiří Vajner says in closing.
