Thursday, 23 May 2013

C&W: Czech commercial real estate market falling

ČTK |
9 October 2012

Prague, Oct 8 (CTK) - The commercial real estate market in the Czech Republic fell by 76 percent year-on-year to EUR452m in the first three quarters of this year, consulting company Cushman & Wakefield (C&W) said Monday.

In the entire Central Europe, investments in commercial real estate decreased by 59 percent.

The number of transactions has decreased and the period necessary for their completion has become longer, but the interest of investors remains strong, particularly in Poland and the Czech Republic.

Several transactions are in progress and the last quarter of this year is expected to be strong, C&W partner Charles Taylor said.

Despite the strong end of the year, C&W expects full-year investments in commercial property in Central Europe to fall by 43 percent to around EUR3.5bn (around Kc87bn).

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