The Czech Republic reported the biggest property investment transactions increase in 2011 for central and eastern Europe, according to global property consultancy Cushman & Wakefield.

Investments in the property market rose to $3.4bn in 2011, compared with an estimated $630m in 2010. The value of new projects was close to those reported in Poland, a country four times larger than the Czech Republic.

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According to data from greenfield investments monitor fDi Markets, the country did not see an increase in corporate greenfield investment, however, posting a decline in 2011.

Cushman & Wakefield estimated that central and eastern Europe attracted $7.9bn-worth of property investments in 2011. According to the consultancy, the number of investments was high in the first and third quarters. However, the final quarter of the year was less favourable due to the crisis in the eurozone and a slowdown in bank lending.