Colliers: Capital markets slowed in Q2 by lack of big deals

Colliers writes that Q2 2021 was slightly more optimistic in terms of the Czech real estate investment market than Q1. What’s still missing, however, are transactions of over €150 million. “With the lack of product on the market investors are forced to handpick opportunities more carefully or accept higher potential risk for expected returns.” So while Colliers points to the willingness of investors to look beyond Prague for deals, the €782 million total transaction volume in H1 2021 is the lowest start to any year since 2014.

Colliers’ lists the top 3 deals for Q2 were as the €96 million sale of the Prague Proton TherapyCenter to RaiffeisenLeasing; AFI Europe’s €71 million acquisition of Avenir Business Park (excluding Building E); and Trigea’s acquisition of Explora Business Centre. Prime yields are flat, however, despite an increased number of transactions. That means that offices still come in at 4.25%, industrial assets at 4.5% and residential at an even 4%. Colliers lists shopping centers, high street and retail park yields at 5.25%, 3.75%, and 6% respectively. It concludes that total deal volume is on course to reach €1.5 billion for 2021.

Czech investment volumes, in €millions (Source: Colliers)


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