Savills has announced the launch together with Lexxus, of a pioneering residential property service in the Czech Republic.
Established over 25 years ago, Lexxus handles the residential sales and lettings of both re-sales and new developments across the city and is a regular commentator on the market.
In the Czech Republic, from its office in Prague, Savills covers investment advisory, valuation, leasing agency, property management, building and project consultancy, and research.
Hugo Thistlethwayte, head of global residential operations, Savills, said, 'The continuing growth of the central European economy and, in particular, the Czech Republic, has led to an increase in residential property prices and opportunities for new residential and mixed-use developments. The market in Prague is attracting international interest and Savills is delighted to form an association with Lexxus to create a business that can advise and transact for our clients across all real estate sectors.'
Stuart Jordan, managing director and head of investment, Savills Czech Republic, said, 'We have been examining the possibilities to expand our service offer to the residential sector, where we are very strong internationally. When we analysed the local market to identify the partner with the highest level of expertise and a reputation to match, Lexxus was the obvious choice. Bringing together a leading global real estate advisor with a leading local real estate agency will create a best-in-class services provider, opening up opportunities in the Czech Republic not present before.'
Peter Visnovsky, director of Lexxus, added: 'We are honoured to join the international network of Savills as a principal global real estate advisor and look forward to securing business opportunities together in the rapidly developing local and international residential property market. Czech high net worth individuals are frequently looking for investment opportunities in the principal European capitals and vacation locations and our partnership with Savills will enable us to provide the highest standard of premium residential advisory directly from our Prague office. Further the global reach of Savills will be an attractive proposition for our developers and owners and will add additional value to the service we provide.'