Investment on Czech market driven by US, German companies

Property investment in the Czech Republic was driven by the US, German and Czech investors, which contributed 32, 22 and 21 percent of the total 2015 volume respectively, according to CBRE. German and US investors also accounted for 53 percent of the overall investment volume in the CEE region, which increased to €9.9bn, up 25 percent y-o-y in 2015. Investment on the Czech market jumped 40 percent in 2015 compared with 2014, reaching €2.482bn, according to the data. US investors accounted for 30 percent of the region’s 2015 volume, up from 23 percent in 2014. US funds closed deals in all core CEE countries and in Latvia. Morgan Stanley and Goldman Sachs made a return, indicating increasing confidence in the region. Goldman Sachs and Highgate Hotels purchased the European portfolio of K+K, which includes two hotels in Prague, and Invesco bought the Corso Court office building from Skanska Property in Prague. German investors came in second on the Czech market, with Union Investment responsible for the largest-ever property deal for the country – the purchase of the Palladium shopping center in Prague for €565m.