Different cycles of real estate

At CB Property Investors, we have opted for a multi-asset approach, i.e. investing in multiple asset classes. Our portfolio includes a logistics park, residential development and senior housing. Our goal is to have a diversified portfolio because each of these sectors has different cyclicality. This investment strategy reduces risk for investors while increasing the flexibility of the fund.

“In 2022, we had residential projects in the pipeline, but when interest rates shot up, we practically abandoned this segment and focused heavily on logistics. From today’s perspective, this proved to be the right decision, as can be seen from the fund’s performance.” says Jan Rovný.

Return to the residential sector

However, we have not completely abandoned the residential sector. We cannot afford to wait several years for building permits, as traditional developers do. For us, it is essential to generate the highest possible annual return for investors.

“Therefore, even when we enter into development, we focus primarily on land with a building permit or land that is very close to obtaining one. We look for projects where we do not see any significant regulatory risks and where the municipality or local government is supportive.” Rovný clarifies in an interview for Týdeník Echo.

Inflow of Czech capital

Czech real estate funds recorded a record inflow of capital in 2025. Domestic capital is becoming increasingly prominent. Jan Rovný sees the reasons for this as follows: “While foreign investors view the market from afar and often only through the lens of general geopolitical risks, Czech investors know this market very well. That is why they perceive the risks much more soberly than investors from the US or the UK. In addition, it must be said that real estate prices in Czechia are no longer low. They often do not differ significantly from those in Germany or Western Europe, which is another reason why foreign capital is not rushing into Czechia.”

You can read the entire interview with Jan Rovný on the Týdeník Echo website: https://tydenik.echo24.cz/clanek/-Hqtyp