Prague has been a popular tourist destination since the early 1990s, when the Velvet Revolution (a mass revolt against the Communist leadership following the fall of the Berlin Wall) was followed by an influx of curious visitors from western Europe.Now, Prague is developing into a business hub as well. In recent years, particularly since the Czech Republic’s EU accession in 2004, more businesses have moved to the capital and major international companies such as Hewlett Packard, McKinsey & Company, Allen & Overy and Boeing now have offices there. Thanks to its position at the heart of Europe, it’s a perfect gateway between east and west and is therefore of huge strategic importance. Key industries thriving in the city include communications technology, life sciences and automobile manufacturing.
Businesses are attracted to Prague because it’s a great place to live and work: it’s one of the most beautiful cities in the world, with a café culture and nightlife to rival those of its western European counterparts. Its architecture survived the cataclysms of the 20th century relatively unscathed, and its gothic, baroque and art nouveau buildings are permeated with its rich history. Although it’s not as cheap as it used to be, it remains a great place to drink and dine, its streets lined with restaurants, cafés and bars offering contemporary and traditional cuisine, not to mention the lager for which the city’s famed. Needless to say, Prague is considered one of the best European capitals to work in.
As Prague’s importance as a business destination grows, and as more and more business goes to central and eastern Europe, it’s vital that at SilverDoor we stay up to date with the city’s developments. As part of our rolling programme of property visits, our Sales Director, Chris Gee, and Managing Director, Marcus Angell, recently spent three days in the city. Such visits are beneficial in two ways. Firstly, they allow us to meet our property providers face to face, which makes it much easier for us to gain an understanding of each other’s businesses and discuss how we work together. Secondly, they allow us to experience the apartments – and the city itself – in person, and bring our knowledge back to SilverDoor, where it’s used to ensure we can find the apartments most suitable for our clients’ needs.
Chris and Marcus discovered a picturesque city, full of character. Chris said: “The centre is full of cobbled streets, pedestrian areas, and attractive old buildings. Public transport is very good… All the apartments we saw were in lovely buildings with amazing views.”
Among the numerous apartments they visited were Pachtuv Palace Apartments, which are in the city’s Old Town, right on the river. Chris described the apartment block as a “really discreet, small-scale hotel-style building, where every suite is different. It is upmarket and is fantastic for those with big budgets and short stays”. Chris was also impressed with other central apartments, such as Residence Brehova Apartments, which were “in a pleasant fairly central area and well connected with public transport. If you’re working in this part of Prague or nearby, this is perfect.”
While in the city Chris and Marcus also met with new property providers: it’s much easier to explain how we work when meeting property providers in person, and it allows us to build new relationships more quickly. Thanks to the visit we will be adding several excellent new locations in Prague onto our website in the future.