Consulting firm Jones Lang LaSalle said that investors bought real estate for roughly EUR 800 million on the Czech market in 2010 and domestic companies accounted for 54% of the amount.

Foreign capital participated in two thirds of the deals in commercial real estate. A third of the deals had a purely domestic character, which means that the buyer and the seller were domestic companies.

The group CPI of billionaire Mr Radovan Vitek was behind most domestic real estate investments.

Jones Lang LaSalle expects higher activity from the side of foreign investors in 2011, mainly thanks to the improving conditions on the market, lack of top quality real estate for sale in Western Europe and the fact that many important investors have not bought any real property in the Czech Republic in the last two to three years.

(Sourced from Czech News Agency)