The revival felt on the Czech property market throughout 2014 is expected to continue in 2015. “This year should be one of the strongest on the property investment market in the last decade,” says Lenka Kostrounová. She warns, however, that 2015 will be different from last year due to high expectations that will not be easy to fulfill.
The revival felt on the Czech property market throughout 2014 is expected to continue in 2015. “This year should be one of the strongest on the property investment market in the last decade,” says Lenka Kostrounová. She warns, however, that 2015 will be different from last year due to high expectations that will not be easy to fulfill.
In the office sector, new tenants are emerging, looking for space in Prague, while a wave of speculative development is expected to send the supply again to the record heights of 190,000 sqm, following in the footsteps of 2014 with 200,000 sqm of new space. Banks have been behind yet another change: a natural selection among developers. Only the financially strong are able to do the business in this environment, defined by the strict requirements on equity and prelease from the lenders.
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