The Czech real estate market delivered an impressive performance in 2024, with total investment volumes reaching €1.85 billion across 58 transactions. This marks the second-best year in the past five, significantly exceeding the five-year average, highlighting the market’s resilience and sustained investor confidence going into 2025. The year ended on a remarkably strong note, with Q4 alone contributing €755 million across 19 deals—the highest quarterly result since the market’s peak in early 2022.
“This notable market performance reflects renewed momentum and confidence, supported by strong domestic investor activity and solid market fundamentals,” says Petr Strýček, Head of Capital Markets at iO Partners. “Local investors continued to dominate the market, contributing to 92 percent of the total volume, however, we are also seeing a resurgence in international interest. Similarly, the rise in domestic sellers, now representing 66 percent of the total investment volume, highlights growing confidence in the liquidity of Czech real estate market. What’s particularly encouraging is the return of high-value transactions, with 2024 recording the highest number of €100 million-plus deals since 2020.”
Retail sector leads in a diverse investment landscape
Retail properties dominated the investment landscape in 2024, accounting for 37 percent of total activity, followed by the office (19 percent), industrial (14 percent), and residential sectors (12 percent). Among the most significant transactions was the sale of Arkády Pankrác, a prominent shopping center in Prague 4, sold by G City Europe to Trigea for €260–€270 million, underscoring the sector’s resilience. The second-largest deal involved the mixed-use Nova Real Estate portfolio, sold by Redside to ČMN for €190–€200 million. Another notable transaction was the retail sale of a 25 percent stake in OC Černý Most, acquired by a new fund managed by a joint venture between Upvest and investment company RSJ, from Unibail-Rodamco-Westfield for €135–€145 million.
Key Market Insights
- with €1.85 billion in 58 deals, 2024 emerged as the second-highest investment year in half a decade
- domestic buyers accounting for 92 percent of activity
- The average deal size reached €32 million
- The highest number of €100 million-plus deals since 2020
- Domination of the retail sector, with 37 percent of the total investment volume
- Strong deal pipeline suggests busy following quarters
