H1 2005 sees occupiers and investors moving into Czech provinces (CZ)

Czech property market has enjoyed a strong first half of the year 2005, with overwhelming interest from both occupiers and investors. Despite the fact that the Czech property market is still highly concentrated in and around the Prague and its region, activity is growing in locations country-wide.

This is particularly true to the office and industrial sectors that are moving out further to regional cities like Brno, Ostrava and Plzen. Occupier and developer interest is expected to lead to many new developments there. Similarly, there is interest in developing shopping centres across the country. Developers believe that Czech consumers are strong in terms of their purchasing power and so are planning developments in regional cities with population of over 50 thousands.

Source: CB Richard Ellis

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