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| Czech Republic Real Estate Report Q3 2009 |  | Author: Business Monitor International
Publisher: MarketResearch.com
Category: Book
Buy New: $530.00
as of 9/6/2010 08:27 CDT details
Seller: Amazon.com
Format: Download: PDF
Media: Digital
Pages: 67
ASIN: B002JEIRAU
Publication Date: July 16, 2009
Availability: Available for download now
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| Editorial Reviews:
Product Description
The economic downturn has hit most segments of the Czech real estate market hard. Various researchershave identified looming or actual oversupply in the retail, industrial and office markets. These problemsare unlikely to be resolved quickly. The actual impact of the global economic downturn has beenobscured by the fall in the number of transactions. Most indications suggest that conditions in thesesegments are worse outside central Prague.
We are surprised at the resilience of the residential real estate market that has been indicated by variousresearchers. Nevertheless, we accept the proposition that underlying demand should prevent a significantfall in prices over the next year. We note that there are a number of legislative changes that will makeresidential property ownership more attractive to foreigners; however, we suspect that these will havelimited impact given the difficult economic environment.
In Q109, we identified various issues that are likely to be important on the basis of the Czech Republic’sReal Estate/Construction Business Environment Rating (RECBER). Overall, we continue to see thefollowing issues as being important:
• The absolute level of bank lending for property in the Czech Republic. It appears that either thewillingness of the banks to lend - or customers to borrow - has been a constraint in the past.
• The oversupply of property that is likely to persist in the office, retail and industrial segments. Inall three, transactions are likely to be fairly few in number. Prices will likely be underdownwards pressure, while yields may rise further.
• Resilience in demand for real estate property. We see the downside as being less than for theother segments. However, given the weakness of the Czech economy, it is not clear what theimpact will be of legislative changes that boost the accessibility of residential real estate toforeigners.
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