Analysts are predicting deals on the Czech property market could hit a record high in 2014. While the year-on-year investment volume only jumped by a moderate 20 percent to €713m, JLL says there has been a noticeable increase in investor activity which could boost the transactional volume in the second half of the year to 2011 (€2.06bn) or even 2007 (€2.89bn) levels.
The majority of deals on the Czech market in H1 were signed in Prague, the largest being the sale of City Tower in Prague 4 by Proxy Financento PPF for €100m. Other large-scale deals included Cecopra’s Palác Křižík in Prague 5 to Generali/Česká Pojišťovna for approximately €75m and TK Development’s Fashion Arena Outlet Centre to Mayer Bergman for around €72m.
