“Total commercial real estate investment in the Czech Republic recorded €490m in Q2 2016 contributing to an H1 2016 total of €950 million, a 26% reduction on the same period of last year. However, it should be noted that the considerable difference is due to the Palladium shopping centre transaction in H1 2015. When excluded, H1 2016 was 34% up on H1 2015,” says Jiri Horak, investment analyst at JLL.
The Czech market is increasingly gaining the attention of new global investment sources and in H1 the market witnessed two transactions by South African investors, NEPI and Rockcastle, who acquired shopping centres in regional cities. In addition, experienced European real estate investor LaSalle Investment Management added their first investment in the Czech Republic, purchasing Na Prikope 23-27, a high street retail and office asset in the centre of Prague. Macquarie, the Australian institutional investment fund, entered the Czech market by the acquisition of multimodal centre in Ostrava.
Sign up today for the latest news