Slovansky Dum shopping and entertainment centre for sale

German SachsenFunds decided to sell Slovansky Dum (descriptive translation: Slavonic House) situated in Na Prikope Street. Despite the prestigious location the German investor fears the current market situation – the costs are spiralling upwards whereas the plummeting revenues are moving in the opposite direction.

The centre, containing luxury shops, offices, restaurants and cafes as well as multiplex cinema, was bought three years ago. The price in 2003 was 1.7 bn Czech crowns and the expected selling price should be around forty to fifty per cent higher.

This move confirms claims of economic observers, according to whom the Czech real estate market starts to resemble its western counterpart due to its increased transparency. Huge sums are thus being transferred in this area. Nevertheless, the specialists also think that supply, increased also by the offer of Slovansky Dum, currently exceeds demand.

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