“Investors in Central Europe have never bought properties with lower yield rates. They approach revenues of five to four percent and sometimes they are willing to go lower, ”said Tomáš Pícha, investment director of Invesco, Prague, which purchases office centers at Prague Property Forum. The decline in real estate investment returns is also due to a lack of premium properties to buy and a record low share of free offices on the Prague market.
“For example, we have a revenue of about five percent for the sale of the Rustonka office center. Much below this level was also the revenue from the sale of Šporkovský Palace, ”said Zdenka Klapalová, director of the domestic part of the consulting company Knight Frank. Domestic foreign buyers, but in different segments, deserve equal pricing. "While Czechs are buying sharper real estate worth 50 million to 200 million crowns, foreign funds are buying 70 million to 100 million euros for a sharp return on real estate," said Jan Hospodar, a partner in 108 Investment Advisory. The aggressive pricing policy was also supported by the emergence of new investors in the market. "In the first quarter, the inflow of investment from Korea contributed to further compressing the highest office yields in Prague to the current 4.5 percent," said Andy Thompson, director of investment department at Colliers International.
The Korean company Hana Financial Investments, using the Czech company Mint Investments, has acquired the Main Point Pankrác office building in Prague 4 for more than three billion crowns. According to E15, the yield was 4.6 percent. Real estate investments worth over one billion euros arrived in the Czech Republic this year alone, says Colliers. This is almost half of the total volume invested in the same period in commercial real estate across Central and Eastern Europe. Are you interested in the article and want the whole magazine on the subject? Buy it in our online newsstation iKiosek.cz ! You order today and have your mailbox tomorrow. Shipping is free.
Zdroj: www.e15.cz
