Czech Republic Real Estate Report Q3 2011
Business Monitor International, June 2011, Pages: 50
Business Monitor International's Czech Republic Real Estate Report provides industry professionals and strategists, corporate analysts, real estate associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Czech Republic's Real Estate industry.
BMI retains its view that the Czech Republic real estate sector remains among the best positioned in Central and Eastern Europe to benefit from any further growth in ‘core’ countries in Western Europe (eg Germany, France and the Benelux countries). With foreign investment strengthening after the effects of the global economic downturn, we forecast promising economic growth for 2011 after minimal performance in 2010.
Still, it might be premature to refer to current conditions as a boom. When we spoke to them at the end of 2010, our in-country sources explained that rents and capital values had stabilised after a difficult period in 2009. Nevertheless, they were looking for yields to remain broadly constant through 2011 and 2012 – implying that rents and capital values were likely to move upwards, if gently, in tandem. Writing in mid- 2011, our impression is that this expectation was reasonable. Our sources anticipated increased demand for office property in downtown Prague, as well as for shopping space nearby.
Other challenges persist. Some protagonists have not been able to access the funds that they need – and/or have become over-extended as a result of deal-making in foreign markets. In May 2011, for instance, ECM Real Estate Investments’ stock was suspended following its bankruptcy. Looking forward, we would see volatility in European financial markets as the main challenge to the construction companies and (in particular) developers in the Czech Republic. For the time being, though, we remain reasonably optimistic.
Executive Summary
SWOT Analysis
- Czech Republic Real Estate/ Construction SWOT
- Czech Republic Economic SWOT
- Czech Republic Business Environment SWOT
Real Estate Market Overview
- Table: Czech Republic’s Real Estate Market – Historic Rents, 2009 And 2010 (m2/month, EUR)
- Table: Czech Republic’s Real Estate Market – Net Yield, 2010 And 2011 (%)
- Table: Czech Republic Real Estate Markets – Terms Of Rental Contract/Lease, Mid-2010
- Table: Czech Republic’s Real Estate Market – Available And Vacant Space, Mid 2010 (m2, unless stated)
Industry Forecast Scenario
- Table: Czech Republic’s Real Estate Market – Rentals, 2010-2012 (m²/month, EUR)
- Table: Czech Republic’s Real Estate Market – Forecast Yield, 2008-2015 (%)
Construction Industry Outlook
- Table: Czech Republic Construction And Infrastructure Industry Data, 2007-2015
- Table: Czech Republic Construction And Infrastructure Industry Data, 2012-2020
Macroeconomic Outlook
- Table: Czech Republic – Economic Activity, 2008-2015
Business Environment
- Real Estate/Construction Business Environment Rating
- Table: Europe Real Estate/Construction Business Environment Rating
- Czech Republic’s RECBER
- Czech Republic’s Business Environment
- Table: BMI Business And Operation Risk Ratings
- Table: BMI Legal Framework Rating
- Table: Labour Force Quality
- Table: Emerging Europe, Annual FDI Inflows
- Table: Trade And Investment Ratings
- Table: Top Export Destinations, 2000-2008 (US$mn)
Competitive Landscape
Company Monitor
- Central Group
- ECM Real Estate Investments AG
- Finep
- Orco Property Group
- Passerinvest
- Sekyra Group
- Skanska CZ
BMI Methodology
- How We Generate Our Industry Forecasts
- Construction Industry
- Bank Lending
- Real Estate/Construction Business Environment Rating
- Table: Weighting Of Indicators
- Project Finance Ratings Indicators
- Table: Design And Construction Phase
- Table: Commissioning And Operating Phase – Commercial Construction
- Table: Commissioning And Operating Phase – Energy And Utilities
- Table: Commissioning And Operating Phase – Transport
- Sources
- Central Group
- ECM Real Estate Investments AG
- Finep
- Orco Property Group
- Passerinvest
- Sekyra Group
- Skanska CZ
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