Podcast “V nájmu”: the boom of real estate funds in the Czech Republic. Ondřej Křivanec and Adam Boruta on strategy and market outlook
Representatives of the real estate investment group Fidurock, Ondřej Křivanec, Executive Director, and Adam Boruta, Head of Funds & Investments, were invited to the podcast V nájmu by the Rental Housing Association. The discussion focused on the boom of real estate funds in the Czech Republic, how they operate, and what lies ahead for the market. It offered a broader perspective on Czech investor behavior and current market risks, while also outlining Fidurock’s investment strategy centered on rental housing and long-term portfolio stability.
The discussion brought together representatives of three key players in the rental housing market. Alongside Ondřej Křivanec and Adam Boruta from Fidurock, Erik Janovský from Mint Investments and Jakub Kořínek from the Czech Housing Fund also took part.
A key topic was the rapid growth of real estate funds in recent years. According to the participants, this growth has been driven by legislative changes after 2013 and a prolonged period of low interest rates. Real estate has also proven to be a stable asset class with limited volatility, allowing investors to gain indirect exposure to the property market.
The discussion also highlighted strong housing demand combined with limited supply due to slow construction processes. This imbalance continues to support the attractiveness of rental housing as a long-term investment segment.
In the podcast, Adam Boruta described Fidurock’s investment strategy focused on historic residential buildings in Prague and Brno. The group targets premium locations with strong transport accessibility and full civic amenities, enabling stable cash flow generation.
The fund acquires fully renovated and occupied properties developed within the group’s pipeline. A key part of the approach is full lifecycle management—from acquisition and reconstruction to ongoing asset management. According to Boruta, this model ensures both portfolio quality and stable returns.
We manage the entire lifecycle of each project in-house. We acquire the property, design its future, execute the development, and then manage it ourselves. This gives us full control over both quality and performance. We have been focused on residential rental housing since 2016 and currently manage over 500 units, with another 600 in preparation.
The podcast also covered the growth of Fidurock’s investment fund, established in 2024. Over the past year, it has attracted more than 1,500 investors, who have invested nearly CZK 500 million.
The portfolio was recently expanded with a property on Provazníkova Street in Brno, offering 73 apartments and several retail units. The group plans further expansion, aiming to add up to five additional properties by the end of 2026, with a total value of approximately CZK 1.5 billion.
The discussion concluded with a focus on current risks, particularly geopolitical uncertainty and its impact on the investment environment. According to Ondřej Křivanec, the future development of the market will largely depend on the stability of economic conditions and the ability of funds to adapt to change.
It was also noted that real estate tends to outperform inflation over the long term, although it reacts to market changes with a delay. In an environment of increased uncertainty, a conservative approach and realistic return expectations are becoming increasingly important.
.png)
