globe retail outlook data

 

  • Retail
  • Office
  • Log In
https://smg.cbre.com/images/default-source/Retail/city-images/default.jpg?sfvrsn=b1d20d96_2

Retail By Country

Czech Republic

COUNTRY RANK #14

Czech Republic

The Czech Republic has established its position as one of the strongest and most stable economies in the CEE region. The retail market in the Czech Republic has been offering very attractive conditions both for developers and investors and has continually matured. Although the Czech Republic as a whole represents quite saturated country in CEE in terms of retail density, there is still potential for further development in Prague and some regional cities, especially in the form of smaller convenience schemes. However as the market is now mature the main focus will move to remodelling, reconstruction and expansion of well performing assets in order to keep or improve their position on the market. Total shopping centre stock in the Czech Republic is almost 2.4 million sq m.

The most attractive shopping centre schemes are located in the capital city of Prague, which is the city with the most developed high street retail market in the Czech Republic and also CEE. New retailers often enter the market on the high street or in one of the prime shopping centres in Prague and therefore such shopping centres are strengthening their market position further.

According to a survey among international retailers, the Czech Republic ranked 9th among targeted global markets for 2017 which shows trust in local market. A lot of retailers consider entering the market through franchising and sometimes it is difficult to find a convenient partner. Subsequent expansion to the country region is relatively slow and some of the international retailers do not want to expand to the regions at all, which results in the increasing importance of local retailers. Contrarily those international retailers, who have developed a representation in the Czech Republic (including partial Czech management) can utilize the local knowledge and expand further into the regions.

The shopping centre market in regional cities is, unlike the high street model, developed and shopping centres are relatively well spread across the country. The high street is developed in Brno and Karlovy Vary. There are currently three outlet centres in the Czech Republic, one in South Moravia and two in Prague. Moreover a new outlet centre is currently under construction.

Our Top Tip For
New Arrivals

In the city centre of Prague you will find more tourists than locals. If you plan to go to the countryside you might experience some language problems as some people don´t speak English outside the cities. Prepare yourself for tasty and cheap beer; the Czechs are the world's biggest beer consumers per capita.

Currency

Czech Koruna (CZK)
EUR €
USD $
GBP £

Language

Czech
Hello: Dobry den
Thank you: Dekuji

International Dialing Code

+420

Time Zone

GMT+1

Cost of a Pair of Jeans

2,500.00 CZK

Cost of a Cup of Coffee

75.00 CZK

Cities in Czech Republic

Contact Us

Tomas Beranek
Palladium
Namesti Republiky 1
+420 602 566 698 | tomas.beranek@cbre.com