Zeitgeist expands its rental portfolio in the CEE region

by   CIJ News iDesk III
2021-05-04   08:22

Zeitgeist Asset Management is newly expanding its real estate offer to include new residential buildings, on which it will cooperate with selected developers. In addition, the current portfolio of 750 apartments in the CEE region will be united under the common brand Home by Zeitgeist. In the Czech Republic, the company has just approved its tenth Prague residence and at the same time the first new building, which was created thanks to a partnership with the development company Finep. The first unfurnished apartments in the Home Barrandov project will be ready to move in from May, and will be fully furnished during August. The company is currently preparing other rental housing projects and plans to expand its domestic portfolio to more than 3,000 apartments over the next five years.

"We are convinced that rental housing has great potential. We are seeing growing demand in all markets where we operate. Whether it is Germany, Poland, Hungary or the Czech Republic, interest in rented housing is rising sharply. The main reason is the long-term rise in property prices. The current corona crisis also played a role. It is obvious that more and more people are dealing with income shortfalls and have no chance of reaching a mortgage. At the same time, however, the group of inhabitants for whom owning an apartment is no longer a priority is expanding. For them, rental housing means less commitment and at the same time greater flexibility in their personal lives, "comments Peter Noack, CEO of Zeitgeist Asset Management, adding:" We are pleased to be able to offer truly high quality and affordable rental housing within many attractive Prague locations, which we choose on the basis of excellent transport accessibility and civic amenities in the vicinity. "

The Home by Zeitgeist brand will cover both modern new buildings and newly reconstructed apartment buildings. For them, Zeitgeist always emphasizes the preservation of the original genius loci and the overall character of the place in accordance with current trends and demands for quality housing. Rental apartments are designed for a wide range of people - from economical layouts for singles through medium-sized apartments for couples to generously designed housing suitable for families. The locations of the projects are also very diverse: it is possible to live both right in the center of Prague and within reach of nature on its quieter edges. The benefit of the common brand is that if the tenant decides to move from one Home residence to another for various reasons - whether due to family expansion or a change of workplace, he is not bound in any time by the original length of the lease or other restrictions.

"We want to make living as pleasant and simple as possible for our clients. Starting with a simple selection of an apartment on our website, clear and fair terms of the lease and also the professional service that our team provides to all tenants during the entire rental period, "says Michal Nečas, CEO of Zeitgeist Asset Management.

Zeitgeist Asset Management's rental portfolio currently includes 10 completed residential properties located in various Prague locations: Kotevní 3, Křižíkova 125, Mlynářská 4, Musílkova 7, Myslíkova 8, Na Struze 5, Na Švihance 2, Na Zderaze 10, Svornosti 27 and Hugo Haase 4 (mentioned by Home Barrandov).