Czechia

Czechia is our fourth-largest market by fair value and second-largest by number of homes. The portfolio was acquired in 2020 and has since delivered largely uninterrupted rental income growth. The vast majority of the portfolio is located in Ostrava complemented by a smaller presence in western Czechia, including in Prague and Pilsen. Operating within a fully liberalised housing market, the portfolio continues to benefit from a supply-demand imbalance.