Real Estate in the Czech Republic in the second quarter of 2011 amounted to over € 180 million, according to a report by property consultancy Jones Lang LaSalle (JLL). This represents an increase of 25 percent in Q2 2010 € 145 million, with a large portfolio of prices that occurred in the 1st quarter brought the first half of the total investment of around € 650 million.
JLL was planned and a total of only slightly higher than the H1 before arriving at the estimates, while more than € 1 billion for the year. Estimates for the year 2011 the Czech capital goods has increased steadily since the latter part of 2010. The increase in current investments have led them to adjust the value, this time by around € 1.5 billion.
This trend continues in the next quarter, with the recent acquisition of Olympia Brno by a joint venture of the EEC and Rockspring. Two of the biggest Q2 seem to confirm this with the acquisition of shopping centers in Olympia Mlada Boleslav and Teplice in the CPI. Another projection of 2010 for the Czech market is that properties are in high demand in stores.
While the CPI dominated the Czech investments in 2010 and early 2011, it is clear that international investors are back in the fray. The instability in many countries in the euro area has had the effect of making markets relatively stable "core" – especially the Czech Republic and Poland – more attractive to investors who may have to look elsewhere in recent years.
Lewis added that the profile of European investors continue to grow, and he expects that investors in the UK, in particular to be a growing presence. George Lewis, head of capital markets at Jones Lang LaSalle, said the position of Prague in the Czech Republic competition for the flagship of the company remain strong, while the national operators, such as the International Criminal Court if not being driven by international moving companies in the "CPI will remain dominant, because they are based and are able to secure the power and opportunities available to foreign groups," said Lewis.
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