Report title: Czech Republic Real Estate
from SeeNews - Industry Reports
18 page report published Sep 01, 2008

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According to Pricewaterhouse Coopers in 2008 the Czech real estate market was defined by high stability and lower investment risk. In the first half of 2008 the higher construction costs and the global financial crisis contributed to a decrease in investments in Czech's real estate. In the first half of 2008 investments totalled CZK 12.4 bln, whereas in 2007 the local market attracted EUR 2.6 bln.

Document ID: IR21
Country: Czech Republic
Industry: Real Estate
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Sections
TitleStarting PageNumber of Pages
Residential Real Estate31
Office Real Estate41
Since the mid-1990s Prague has been seen as an extremely attractive place to do business. As a result the office real estate market was one of the fastest growing in Europe, reaching 1.977 mln sq m in 2006, which is two and a half times higher than the lev42
Retail Real Estate62
Residential real estate81
Rising living standards and demographic factors such as the baby boom of the 1970s, increased demand for housing in 2005 and 2006. Advantageous mortgage rates and the expected VAT increase drove demand for homes upwards in 2006.81
In the first half of 2008 take-up in Prague doubled on the year to 135,065 sq m. A total of 63 transactions were closed in Prague in the second quarter of 2008. In Prague the vacancy rate stood at 3.0% in the first quarter of 2008. In the first half of 20081
At end-2007 office space take-up decreased by 32% year-on-year to 195,200 sq m in Prague. The highest demand was estimated at 62,800 sq m in Prague 4, followed by 32,000 sq m in Prague 1 and 31,000 sq m in Prague 5. The largest office deals in Prague in 2096
Available retail space will increase by 255,000 sq m in 2008 and further 240,000 in 2009. The retail space will increase to 198 sq m per 1,000 inhabitants. In Prague a total of 70,000 sq m are expected in 2008, whereas in other Czech regions new supply for151
By 2008 the retail space is expected to reach 1.96 mln sq m with the opening of additional 240,000 sq m in Prague and 340,000 sq m in the regional cities.151
The retail sector is still undeveloped, which together with rising consumer demand makes it the most attractive segment for investment in the forthcoming years. 154

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