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PRAGUE-Capital investment in Czech Republic commercial property rebounded by 233% in the first half, but was still low at $280 million compared with 2005-2008. But the market remains dominated by local investors with no sign of concerted return of foreigners, according to realtor DTZ.

Save for some Austrian investors and a group from the US, it “would look like a local market driven exclusively by domestic capital,” said DTZ’s Ryan Wray. Differences in preferences of domestic and foreign investors occur frequently. Austrian fund Hypo Real Invest, which has realized two Czech transactions this year and is planning more, focuses on high-quality office properties with creditworthy tenants and long-term contracts. The most active domestic investor to date is CPI, which is also seeking well-located properties with long-term leasing and a strong tenant base, but across various sectors.

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