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News Release

Prague

Distressed sales to appear on the Prague market in 2010

According to Jones Lang LaSalle market forecasts


Prague, 15th February 2010 – According to Jones Lang LaSalle’s latest Prague City Report, the investment market has shown an increase in activity over the fourth quarter, with the total volume of investment being more than double compared to the previous three quarters. The total volume of investment in Q4 exceeded 385 million EUR.

The last quarter of 2010 recorded the first smaller scale distressed sales on the Prague market, a majority of which were done in the form of auctions. In 2010, this type of investment will continue appearing on the market.

George Lewis, Head of Capital Markets at Jones Lang LaSalle, comments: “Already in 2010 investor outlook is more positive with a general enthusiasm for deals to happen during the course of the year. Investor groups remain highly selective and are focused on prime product. The biggest challenge facing investors is the availability of the right product at a pricing level, which makes sense for both the buyer and the seller. While bank finance remains limited, we do not anticipate any significant activity for secondary product.”