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Development of the Capital Value Index of Commercial Real Estate on the Czech Market

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  • Matoušková Michaela

    (Technical University of Liberec, Faculty of Economics, Department of Finance and Accounting, Studentská 1402/2, 461 17 Liberec, Czech Republic)

Abstract

The global financial crisis has shown that property prices can significantly affect the financial sector and the real economy. More multinational investors are active in the commercial real estate market compared to the residential sector, which, according to the European Central Bank, increases the risk of spill-over of financial instability from abroad. Although the evolution of commercial property prices may increase the probability of default of firms operating in this sector, more attention is not given to a detailed analysis, which focuses mainly on residential property. This article analyses the development of the commercial real estate capital value index in the Czech Republic. The analysis revealed that, unlike the global economic crisis, the COVID-19 pandemic had a different impact on individual commercial real estate markets.

Suggested Citation

  • Matoušková Michaela, 2023. "Development of the Capital Value Index of Commercial Real Estate on the Czech Market," ACC Journal, Sciendo, vol. 29(2), pages 63-70.
    • Handle: RePEc:vrs:accjnl:v:29:y:2023:i:2:p:63-70:n:1005
    DOI: 10.2478/acc-2023-0005
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    References listed on IDEAS

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    1. repec:cup:cbooks:9781108422536 is not listed on IDEAS
    2. Joseph Gyourko, 2009. "Understanding Commercial Real Estate: Just How Different from Housing Is It?," NBER Working Papers 14708, National Bureau of Economic Research, Inc.
    3. Brooks,Chris, 2019. "Introductory Econometrics for Finance," Cambridge Books, Cambridge University Press, number 9781108436823, September.
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