The CEE Investment Report study “Prosperous metropolises” analyzed a total of 200 cities. He states that Prague attracts foreign investors thanks to its highly educated workforce, which exceeds the EU average and can be compared with, for example, Paris and Madrid.
“Also thanks to this, important local investments are directed to segments such as research, development or technical fields. Most employees here work in business, professional services and public administration. The office space alone in the city occupies 3.5 million square meters,” he states.
For example, a study on the fact that in the number of restaurants Prague surpassed London and Berlin, more than twice. Moreover, within the region, it is the most similar to Western cities, for example in terms of the structure of the local economy and a high proportion of professional services, art and entertainment.
Apartment prices are skyrocketing again
Poland’s Wrocław came in third place thanks to an exceptionally fast growth in labor productivity. Central and Eastern European countries dominate the top ten. According to reports, the region will continue to grow. The favorable economic situation and the good results of large cities drive the demand for new investments.
|10 fastest growing cities of the EU study|
|CEE Investment Report 2019 The ranking was compiled by Skanska, Colliers International and Dentons|
“Prague has enormous potential in our eyes, and we are pleased that more and more foreign investors share this opinion with us,” said Alexandra Tomášková, director of Skanska Property Czech Republic.
Koreans are shopping
According to this year’s CEE Investment Report, Asian investors, mainly South Koreans, are currently the most active foreign investors in the region. In the area of the commercial real estate market (such as offices or shopping centers) they play an increasingly important role. In the first half of 2019, South Korean companies invested 686 million euros (17.6 billion crowns) here, which was surpassed by German investments.
The population in the Czech Republic is growing, but the number of people is increasing only somewhere, statistics have shown
“For all of us who live and work in the CEE region, the development of capital cities over the last decade is undeniable and inspiring,” said Luke Dawson of international consultancy Colliers International. “We believe that this region offers the best opportunities for stable growth in the whole of Europe, and this data clearly proves it,” he added.
To the conclusions of the study, it is appropriate to add that the above-described successes of Prague are also felt negatively by residents, especially in the area of rapid housing price increases and rent growth. In Prague, the population is still increasing, according to the CZSO, their number increased by six to 1.39 million people at the end of 2018.