With three large-scale deals totaling €800m expected to close in the first quarter, the retail sector is expected to dominate the Czech investment market this year, according to new figures released by CBRE. The market recovery is noticeable. In 2012, 21 transactions were concluded on the Czech market; in 2013, 37 were closed and in 2014, 47 transactions were finalized, with the average price of transaction increasing from €35.5m in 2013 to €42.4 million in 2014.
“While 2014 was especially the year of investment in industrial real estate, 2015 will mainly give the green light to the retail sector. At the moment we are aware of three transactions worth around €800m in final negotiation stages and other investment projects are in the pipeline,” said Richard Curran, managing director at CBRE. “CBRE is currently involved in three shopping center deals. Two are about to close within a few months, and we are about to launch a sale of another shopping center shortly.”
