Local investors continue to dominate the Czech property market as new family offices, private wealth and retail funds continue to establish and expand. Colliers International published its Q4 2019 investment, industrial and office market overview of the Czech Republic.

Flow East has pre-leased 75% of its mixed-use project being constructed on Wenceslas Square (Václavské náměstí), with just 5,000 square metres of office space left available at The Flow Building five months ahead of its completion.

The year 2019 was a record one for the Prague hospitality sector in terms of transactions: the amount of investments in hospitality properties exceeded €500 million. This is the highest figure in history and twice the average for the last five years. This is also the first time that the Czech Republic has made it to the Top 10 in the European hospitality investment chart – to number nine. In 2020, the volume of hospitality transactions could become twice as high – €1 billion, according to Cushman & Wakefield.

The total stock of coworking and flexible office space in Prague reached 75,000 sqm by the end of 2019, as eight new centres opened their doors to take the total number to 59, according to the latest Savills research. Similar growth of the flexible office space sector is expected in 2020, which would take the total stock to almost 100,000 sqm.

Česká pošta has sold the former St. Gabriel Monastery, located in Prague's Smichov district, to the CIMEX group for €14 million (CZK 353 million).

In H2 2019, gross take-up on the Brno office market reached 54,600 sqm (up by 303% y-o-y), whereas in Ostrava gross take-up reached 4,100 sqm, representing a y-o-y decrease of 41%. The Regional Research forum announced the Brno and Ostrava office market figures for H2 2019.

Colliers International Czech Republic announced the appointment of Tereza Nemcova as Director of the Human Resources department, in line with the company’s plan to expand its headcount, as well as its footprint throughout the Czech Republic.

Christie & Co recently launched their new report focusing on the hostel markets in Vienna, Prague and Budapest. The report shows an overview of the business model itself, key characteristics, the evolution of the hostel concept and gives a deeper insight of the mentioned markets: Vienna, Prague and Budapest, in terms of demand, supply and especially branded supply.

Overall in 2019, total gross take-up on the Prague office market reached 439,000 sqm, representing a decrease of 18% in year-on-year comparison. The Prague Research Forum announced the office market figures for Q4 2019.

CPI Property Group announced the completion of two issuances under the Group’s €5 billion Medium-Term Note Programme.