Rents for prime retail space on the most expensive shopping streets in Europe are rising, including the high streets of Prague, where retailers are willing to pay up to €220 per square meter per month on Pařížská and Na Příkopě Streets. Over the past five years, prime rents on the two streets have risen by 20 percent. According to a study by the consulting company BNP Paribas Real Estate, there’s more rental growth to come, and with investor demand pushing up the property prices, yields are have fallen to 4.5 percent and less. Real estate investors spent more than €150m the Czech capital’s high street properties. New luxury brands are continuing to enter the Czech market and have proven willing to open stores on streets off the prime streets, such as Široká.
