Zeitgeist Asset Management nears completion of rental apartments in Prague’s Old Town

Zeitgeist Asset Management Nears Completion of Rental Apartments in Prague’s Old Town

Prague, March 4, 2025 – Zeitgeist Asset Management is finalizing the renovation of three historic apartment buildings in Prague’s Old Town on Karolíny Světlé Street. The project, which began in September 2022, is set to deliver 37 rental apartments, with move-ins scheduled to begin in May.

The development offers a range of apartment layouts, from compact 1+kk units to larger 6+1 apartments, with sizes between 22 and 177 square meters. Some of the units are designed as duplexes. The project adds to Zeitgeist’s HOME by Zeitgeist portfolio, which currently includes 15 rental residences across Prague.

The renovation preserves the architectural character of the original 15th-century buildings, integrating modern residential features. Historic elements such as coffered doors and wooden parquet flooring have been retained or replicated, while kitchens and bathrooms have been modernized. Ground-floor units include private front gardens, and residents will have access to a private courtyard garden.

The buildings consist of two five-storey structures, each with 14 apartments, and a third four-storey building accessed via a courtyard with nine units. The project also includes four commercial spaces on the ground floor, intended for shops and services.

According to Peter Noack, CEO of Zeitgeist Asset Management, the development addresses a gap in the Prague rental market for larger apartments, which are in demand among expatriates and professionals working from home. The units provide flexibility for tenants seeking dedicated workspaces, children’s rooms, or additional living areas.

The apartments are located near the Rotunda of the Finding of the Holy Cross, within walking distance of cultural landmarks, theatres, museums, and shopping centers. The area is well connected by public transport, with tram stops on Smetanovo nábřeží and metro stations at Národní třída and Staroměstská.

The Karolína Světlé 12 and 14 project expands Zeitgeist Asset Management’s presence in Prague, reinforcing its position as a leading provider of institutional rental housing. The company manages more than 500 apartments across the city, ranging from historic properties to newly developed residential areas.