LEXXUS NORTON has been operating in the Czech real estate market for 33 years and Marianna Aydinyan has been part of it for more than two decades. This May, she became the Sales Director, focusing on developing relationships with developers and managing the group’s business performance. For her, this significant company anniversary primarily confirms that expertise, trust and relationships built honestly over the long term still have fundamental value in real estate.
LEXXUS NORTON is not one of the brands that was created within a single market wave. The company has gone through a number of cycles, crises and changes in demand and regulatory environment and has always managed to survive. “I am proud to have been able to share in a significant part of this journey, especially in the development of services for developers. I see it as a commitment to continue in the same quality, but at the same time to constantly move forward,” says Marianna Aydinyan.
Which period was the most challenging for LEXXUS NORTON in the past 33 years?
Each period had its challenges, but what I consider the most challenging were the years of high interest rates, rising construction costs, buyers’ uncertainty and very complex permitting processes. The market did not stop, but the way of making decisions changed. Clients were more cautious; developers had to work very precisely with pricing and product composition. It is at such times that the difference between ordinary sales mediation and the real strategic partnership that we offer to developers becomes clear. Thanks to our long-standing experience and know-how, we have historically overcome two real estate crises successfully, which gives us the ability to respond correctly even in times of market fluctuations and to effectively guide clients through the changing situation.
What do you consider to be the key event that influenced the direction of the company?
A significant milestone was the systematic building of a specialized division for development projects, which our company launched at the beginning of the millennium. We were historically the first partner for developers. Since then, services for developers have begun to develop as a separate discipline – they include not only sales, but also analytics, marketing, pricing, reporting and strategic consulting. Another significant moment was the merger of the ébrand under the name LEXXUS NORTON and the new energy brought into the company’s management in recent years. The company stands on stable foundations, but at the same time significantly invests in innovation, technology and further professionalization of real estate services.
How has the LEXXUS NORTON strategy evolved over time?
Our strategy has always been based on three pillars: market knowledge, a high-quality client database and a strong team. We have gradually complemented this with our own analytical and marketing departments. Today, we provide developers with not only a sales team. We provide them with a partner who helps set up a project from the first concept to the last unit sold. It is this complexity that allows us to grow even in times when the market is more complicated. LEXXUS NORTON works with a huge database of active clients, investors and institutional partners, which is a huge advantage when selling residential projects. We also have over 310 development projects sold and long-term relationships with key players in the market. Last year, we handled transactions in the volume of CZK 5 billion and grew by 14% year-on-year.
Which development companies are you currently working with?
We work with the largest Prague developers as well as boutique investors who are creating smaller, architecturally exceptional projects. Our advantage is that we can deliver the same level of professionalism to a large project with hundreds of units as well as a modest residence with a few apartments.
How many units does this represent?
We currently offer 23 development projects in Prague and the surrounding area and a total of more than 1,800 units for sale. In 2025, we have added eight new projects of various sizes to our offer. This year, we have already launched the sale of three development projects and are currently preparing more than 10 others. Those will be included in our offer in the autumn. This confirms that LEXXUS NORTON is one of the key players in the Prague residential market, not only in the premium segment, but also in the area of comprehensive service for developers.
What do you see as the greatest added value that your business partners receive from you?
In the certainty of making the right decision. Today, a developer needs to know what product the market will accept, at what price, at what pace and with what target group. We provide them with data, experience and direct feedback from clients. Our added value does not only lie in knowing how to sell. It lies in helping to set up a project so that it is marketable, economically meaningful and of long-term quality.
How has buyers’ behaviour changed over the past year?
Buyers have become more active in the market again, but at the same time, they remain very rational. Clients compare more, ask more questions and focus on the long-term value of the property. Once again, investors are showing interest in quality units in attractive locations, and when it comes to owner-occupied housing, one can feel a noticeable sensitivity to layouts, operating costs and the quality of the surroundings. As for the premium segment, demand for exceptional properties remains strong, but clients expect absolutely professional service and a high level of discretion.
What does today’s creditworthy clientele place the greatest emphasis on when choosing a new home?
Location, quality of architecture, privacy, security, energy efficiency and timeless value. Today’s creditworthy clientele is really well informed. They are not only looking for a beautiful apartment, but also for the overall environment, lifestyle and a certainty that the property will remain of good quality in 10 or 20 years’ time. The possibility of personalization, quality materials, smart technologies, parking, greenery and good accessibility of services are becoming increasingly important.
What innovative tools or technologies do you use when presenting and selling apartments and houses?
We work with data analytics, digital marketing, client segmentation, precise campaign targeting, high-quality visualization, video presentations, virtual tours and AI tools. We also place great emphasis on reporting, providing developers with a clear and continuous overview of demand, conversion rates, price sensitivity and clients’ feedback. Technologies are just a tool. What really matters is that they are supported by an experienced team that can interpret data correctly and transform it immediately into a business strategy.
How do you assess the current state of the Prague residential market? Where do you see the greatest room for growth or improvement?
The Prague residential market is strong, but structurally unbalanced. Demand has been high for a long time, supply is limited and the preparation of new projects continues to be too slow. In my view, the greatest room for improvement lies in the permitting processes and the predictability of the regulatory environment. If housing is to be more affordable, the number of constructions needs to increase, not only on the outskirts of the city, but also in brownfields and transformation areas. At the same time, it is necessary to support quality urban planning, because it is not just about the number of apartments, but the overall quality of urban life.
LEXXUS NORTON has been doing well in recent years. What is behind the excellent business results?
First of all, great discipline. Growth must not weaken the quality of services, on the contrary, it must strengthen it. This meant investing in people, processes, technology and internal communication. For me personally, this represents an even greater emphasis on connecting business strategy, analytics and marketing. When a company grows, it must have clearly set standards so that both the client and the developer receive the same quality of services, regardless of the size of the project. A great deal of credit for the company’s current direction and dynamics also belongs to Simona Otavová (Chairwoman of the Board of Directors and significant shareholder of LEXXUS NORTON – ed.), who has been, in recent years, significantly involved in the strategic development of the company, strengthening its position in the premium real estate market and setting a long-term growth vision. It is her emphasis on quality, trust, relationships with developers and professional standards that has helped the company to manage rapid growth while maintaining a strong position in the market.
You are new to the company as a sales director. What is your vision for the coming years?
My vision is for LEXXUS NORTON to be the first-choice partner for developers from an early stage of project preparation, not only when the project is ready for sale. I also want to strengthen our role as a strategic partner who can bring data, business experience, marketing expertise and direct contact with creditworthy clients.
What news or changes can LEXXUS NORTON clients and business partners look forward to? Are you planning anything that will surprise the market?
We are preparing to further strengthen our own digital tools, data analytics and client service. At the same time, we will introduce new residential projects that combine quality architecture, sustainability and a thoughtfully designed lifestyle. Today, market is not easily won over by a single spectacular tool. It is won over by consistent quality, the ability to deliver results and a service that truly saves developers and buyers time, money and energy.
Jana Hrabětová
Photo and visualization LEXXUS NORTON