Investment volumes in the Czech real estate market fell to EUR 73.1 mln in the first half of 2009, down 87% on the year-earlier period, according to the latest study by CB Richard Ellis. The H1 2009 investment figure represents four transactions, CBRE said.
Investment volumes in the Czech real estate market fell to EUR 73.1 mln in the first half of 2009, down 87% on the year-earlier period, according to the latest study by CB Richard Ellis. The H1 2009 investment figure represents four transactions, CBRE said.
Stuart Bloomfield, head of Capital Markets a CBRE, commented: 'The commercial real estate investment market in the Czech Republic is currently experiencing an extremely low level of activity as a result of the world economic downturn. The market is currently waiting to see a new benchmark yield for institutional grade investment stock in all sectors. In many cases there continues to be a discrepancy in the expected pricing levels of vendors and potential investors. Financing remains difficult to obtain as banks are extremely cautious, have lower allocations for real estate financing and require higher levels of equity participation.'
