Michal Soták is oddly calm when speaking about the collapse of the Czech real estate market. Transaction volumes may have dropped 63 percent compared to 2019, but he waves this aside, saying there's no real drama to speak of. GDP is likely to plummet by a historic 7% this year, but to hear Cushman & Wakefield's Head of Capital Markets Michal Soták describe it, Prague is still the same boring place it always has been, with boringly low office vacancy and little volatility.
Boring, of course, means expensive. It also . . .
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