€1280 million was invested in commercial real estate in the Czech Republic in the first quarter of 2017. This is the largest ever amount of investment registered for a first quarter. The result is mainly attributed to three major transactions: the sale of the Letňany Shopping Centre the CBRE GI portfolio and the change of the Olympia Brno owner. The Czech National Bank’s exit from currency interventions should not slow the strong demand for commercial real estate down.
Compared with last year, when first quarter transactions amounted to €409 million, this is a dramatic growth. Historically the second best Q1 was registered in 2015, with the amount of investment 46% smaller than this year. Cushman & Wakefield forecast further growth. The central bank’s exit will not have any adverse impact.
Sign up today for the latest news