From an old ground floor flat into a profitable property.
This investment apartment was acquired by one of our existing investors with 10 apartments in 2018. The price of the unit was relatively low as it was a ground floor apartment with a First Republic old interior.
The apartment is located in Zizkov, which is not as close to the historical center, so in order for us to set nightly prices above average, the apartment had to look above average as well. However, the initial demolition and construction work cost a lot of money and the investor didn't want a very expensive renovation, so we opted for a minimalist interior design.
Due to the original layout, we could comfortably accommodate up to 8 people in the apartment. Regardless of the fact that the apartment is located in Zizkov, the average annual occupancy is over 85% with a price per night of 7,000 CZK. Why? Because of our Airbnb and Booking profiles, tasteful interior, small nice touches like a table football and infrared sauna, professional photos, great customer and technical service.
In less than 5 years under our management, the investor has returned most of the original investment in the property.