Czech real estate investments clear €1bn in Q1
Published at: 2019-05-24 09:49 | Author: CIJEurope.com
Just over €1bn worth of real estate investments came into the Czech Republic during the first quarter of the year, more than double the amount from the same period in 2018. According to Colliers International research, it was also just under half of the total €2.3bn worth of deal flow into the CEE-6 countries, with Polish investments having fallen 60 percent year-on-year. “The Q1 bright spots were that Czech deal flow was back up to the quarterly run rate seen in 2016 and 2017, CEE-6 office volumes totalled €1.25 billion and there was a near-record quarter in the hotel sector of €459 million with deals recorded in Prague, Ostrava, Krakow, Warsaw and Budapest,” says Mark Robinson, CEE Research Specialist at Colliers International. He said that western European funds as well as East Asians bought more than they sold, while American UK funds were net sellers. Remarkably, real estate prices continue to increase. “The inflow of Korean investment in Q1 contributed to the further compression of Prague prime office yields to the current 4.5% level,” commented Andy Thompson, Head of Investment in Czech Republic & Slovakia.
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