Tuesday, 10 November 2026
The Czech Republic’s commercial property investment market is expected to record transactions worth between EUR 2.7 billion and EUR 3 billion in 2026, according to CBRE. Investment volume reached approximately EUR 2 billion during the first nine months, with domestic investors accounting for more than 65% of the total. Although the annual figure is expected to remain below 2025 levels, acquisitions of office buildings, shopping centres and hotels have maintained transaction activity. Czech financial groups and property funds have continued acquiring assets from international owners, particularly in Prague.
Office properties represented approximately 39% of investment volume during the first three quarters, according to CBRE. Hotels, industrial properties, rental housing and retail assets also contributed to market activity. One of the largest transactions involved the sale of Riverside Karlín by Austrian property company CA Immo to Trinity Bank. The portfolio comprises approximately 85,000 sqm of office and retail space across five buildings: Mississippi House, Danube House, Amazon Court, Nile House and Missouri Park.
The purchase price was not disclosed, although CBRE estimates the value at several hundred million euros. The consultancy identifies the transaction as the largest commercial property acquisition in the Czech Republic during 2026 and the largest office transaction in Central and Eastern Europe. Located along Rohanské nábřeží in Prague’s Karlín district, the complex was developed on former industrial land beginning in 2003. Its buildings are largely occupied by businesses operating in technology, banking and professional services. The disposal completes CA Immo’s withdrawal from the Czech market, following earlier sales of the Visionary building and Kavčí Hory Office Park.
Other office transactions included Amundi’s sale of Keystone to Switzerland’s RIMO Holding, Generali’s acquisition of Na Příkopě 14 from CPI and AFI’s purchase of Port7 from Skanska. The Trimaran and City Element buildings in Pankrác were acquired by Czech property fund Aurelia from investors associated with PIMCO and Allianz.
Retail investment also recorded several transactions. Lordship sold Centrum Stromovka in Prague’s Holešovice district to Czech investment group RT Torax, in what CBRE describes as the country’s largest retail property transaction of 2026. Completed in 2019, the development contains approximately 14,300 sqm of retail accommodation across nearly 90 units, alongside 6,700 sqm of offices. The property is located near Stromovka park and combines retail, restaurant and commercial premises. The transaction followed the March sale of Novo Plaza shopping centre by Bluehouse Capital to Czech developer and investor Dandreet.
Hotel acquisitions contributed further to investment volumes. In August, Prime Hotel Assets Fund, managed by J&T Investment Company, acquired the Prague Marriott Hotel and Millennium Plaza complex from PH Properties, with Dosfield Group participating as a strategic partner. The purchase price was not officially disclosed, although industry estimates place the transaction above EUR 200 million. The complex comprises more than 62,000 sqm, including a 416-room hotel, approximately 10,500 sqm of office and commercial accommodation, conference facilities, restaurants and parking for 460 vehicles. Marriott International will continue operating the hotel under a long-term management agreement.
CBRE identifies the acquisition as the largest individual hotel property transaction in Central and Eastern Europe during 2026. Earlier in the year, Vienna Insurance Group sold Vienna House Andel’s Prague to Czech hotel investor Cimex, which subsequently incorporated the property into its OREA portfolio.
The transactions demonstrate the growing influence of Czech investors in the domestic commercial property market. Several substantial assets previously held by international companies have transferred to local financial institutions, investment funds and privately controlled property groups. CBRE reports that it has advised on Czech property transactions exceeding EUR 1 billion since January, representing an estimated 47% share of the investment advisory market.
The consultancy expects additional acquisitions before the end of December, bringing annual investment volume towards EUR 3 billion. Activity in 2027 is expected to remain substantial, although the availability of properties for sale and financing conditions could restrict transaction volumes. CBRE also anticipates further expansion by Czech investment groups into other European property markets as domestic investment opportunities become more limited.
The developments during 2026 indicate a continuing change in commercial property ownership, with domestic capital playing an increasingly significant role across Prague’s office, hotel and retail sectors.
