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Colliers Q4 data shows Czech real estate enjoyed solid year in 2017

€3.7 bn of transactions made it second strongest year for Czech investment market

A rally in investment flows in the fourth quarter of over €1 billion meant the Czech Republic saw total investment volume of €3.73 billion in 2017. This made it the second strongest year in the market’s history, according to the Market Overview for the Czech Republic for Q4 2017, the latest research from global property advisers Colliers International.

The strong investment flows, down just 4% year-on-year (y-o-y), came from a wide group of investors from 22 different countries. Czech domestic investors dominated with a 29% share of all deals. German and American investors were also very active, with a market share of 18% and 15% respectively. Retail properties made up the largest share of total volume of investment at 43%, while offices were in second place with a 29% share.

Other highlights of the report include a record year of gross take-up of 534,000 sqm in 2017 in the Office segment, which was up 29% y-o-y. The Office vacancy rate continued its downward trend in spite of the increased office completion levels, settling at 7.5% by the year-end.

The Industrial market in 2017, meanwhile, witnessed the strongest supply since the global economic downturn, with completions totaling some 696,000 sqm. In spite of the high level of completion, the vacancy rate continued falling, ending the year at 4.1%, down by some 60 basis points y-o-y.

“The Czech real estate market ended 2017 strongly and we think most investors remain cautiously optimistic about the market going into 2018, with many hoping to conclude further transactions during the year,” says Ondřej Vlk, Head of Research Czech Republic at Colliers International. “In our view the market will soon – if it has not already – start to look fully priced, yet some investors will remain committed to expanding their portfolios.”

About Colliers International Group

Colliers International Group Inc.
(NASDAQ: CIGI; TSX: CIG) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.

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