Viktoria Center is an oasis in a revitalized section of Prague's Žižkov

Bordering on the upscale Vinohrady district, Žižkov was once the realm of factory workers, and Vinohrady was more likely to house factory owners, but that distinction is no longer true.

The district still has its counterculture ambiance, but new housing, more shops, and amenities have come to the area in recent years making the neighborhood worth a second look as a place to settle down.

A new apartment complex is one example of how Žižkov, sometimes called Prague’s Brooklyn, is undergoing big changes. Viktoria Center with a total of 200 residential units, retail spaces, and offices next to the Viktoria Žižkov football stadium was completed in the fall of 2021. With an attractive location near office districts such as Karlín, Masaryčka, and Florenc it’s a nice option for employees as well as families and students.

Developer CTR Holding has been on the Prague market since the 1990s. The company started with smaller developments but its big pioneer project was the Albertov Rental Apartments completed in 2008. Since then, CTR has completed more than 1,200 residential units and also operates similar rental apartment projects – more than 330 rental units plus retail space and offices – in Košice in Slovakia as well as Regensburg and Dresden in Germany.

Viktoria Center was designed to continue this trend. It combines the company’s expertise gained via premium developments in the city center of diverse European metropolises. The company says its new project is notable for bucking a number of trends in the current real estate market with just one slight difference: some of the units are available for sale now.

"One of the big advantages is that you can buy something now and move in or rent it out directly," says Jan Horvath, CEO of CTR´s division Real Estate, who adds that this can be an appealing prospect given the current high mortgage rates in the Czech Republic.

"Usually, you buy 20 percent and then wait two or more years, but the Viktoria Center is already finished. You can move in immediately, the flats are completed."

Horvath says that the complex is also unique due to the fact that a large percentage of buyers are foreigners. Buyers come not only from Slovakia as is quite usual for the Prague market but from all over the world. "Currently 50 percent of buyers are foreigners mainly from France, the U.S., the UK," he says, adding that it has also attracted buyers from other regions such as Asia, Serbia, and Croatia.

Unlike most other developers, CTR, a holding company with a long history in the Central European market that also includes private aviation and cement production among its business holdings, retains majority ownership of its buildings to show that they have confidence in what they have created. Of the nine buildings in Viktoria Center, only four are being sold.

Viktoria Center is designed to create a community feel. The building’s V-shape encloses a private garden just for residents and their guests and shops, including a supermarket, specialty pasta bistro, drug store, and florist located on the building's Seifertova ground floor.

The design of the flats includes large-format tiles, wooden floors, lacquered doors, floor-to-ceiling wooden windows, underfloor heating, external blinds for most apartments, and preparation for air-conditioning for attic flats on the top floors. 

Several units boast views of Prague Castle, Žižkov TV Tower, or Vítkov Hill Monument as well as of the action at the Viktoria Žižkov stadium, and all have balconies and come with private cellars and underground parking spaces; good news given Prague 3's very limited street parking.

Given these appealing amenities, it’s no wonder the demand for units in Viktoria Center is very high.

“CTR originally intended to sell only 51 units from the beginning of 2022,” says Horvath. But after seven months we sold more than 60 percent of them, so we’ve decided to release one last stage with 19 additional units from September 2022,” Horvath said.

Some major changes have come to the neighborhood in recent years. An office complex, and the cultural center Radost, which formerly was an office building for trade unions, is now home to a cafe, a boutique cinema, a co-working space, a rooftop that hosts concerts, and a small park now called náměstí Radost that has pop-up events.

A new pedestrian tunnel connecting Žižkov directly to the main train station Hlavní nádraží is a short walk away. This also creates a walkable shortcut to Wenceslas Square.

The wider area around Viktoria Center includes Rajská zahrada, a calm park with an artificial waterfall and a pond with koi fish and turtles. There is exercise equipment and a playground for children in the park as well as a petanque area and ping pong tables.

Next to it is Riegrovy sady, a large tree-filled park with a beer garden and excellent views of the historical center, especially at sunset. For people who enjoy long walks or have a dog, there is the Žižkovská Highline, a pedestrian and cycling path built on a former rail line. It extends all the way to the other side of Žižkov.

In the future former brownfields such as the Žižkov freight station (nákladové nádraží Žižkov) and the area around the Central Telecommunications Building (ÚTB) skyscraper at Olšanská will be transformed.

It's clear the liveability factor of Prague's Žižkov districts improved in recent years. Viktoria Center aims to make it a true community for expats.