Investment activity in the commercial real estate market in the Czech Republic has shot up sharply in the last quarter of 2024. After rising yields in 2022 and 2023, "prime yields" have stabilised in 2024 and the market has found a new price equilibrium, according to Colliers' regular quarterly survey.
Romania's housing market faced a significant imbalance in 2024, with new home deliveries falling 15% nationwide and over 20% in Bucharest, while demand rose by 7%, finds a Colliers report.
The fourth quarter of 2024 has not brought a significant change to the Czech industrial and logistics real estate market. While demand has returned to almost pre-Q1 volumes, the amount of new project completions has remained low, according to the regular quarterly survey conducted by Colliers.
Companies in regional cities in the Czech Republic have been facing an increasing challenge in finding quality office space, reports the Regional Research Forum. H2 2024 data for Brno and Ostrava shows that a shortage of office space is thus creating pressure on the market and tenants.
Bucharest recorded a 20% decline in office leasing, to 339,000 sqm, in 2024, compared to the previous year, although it remained above the five-year average, according to a Colliers report.
Investment activity is accelerating, especially in Poland and Slovakia, while interest from Asian companies in logistics and manufacturing is increasing across CEE, according to a Colliers report.
Vacancy rate in the Prague office market decrease in Q4 2024 has been the largest since 2018, reports Prague Research Forum in its Office Market Figures for Q4 2024 and 2024. The report has also revealed the record annual take-up and the overall situation of the market.
Even though the volume of commercial real estate delivered to the market in 2024 was below average, the Czech market did not freeze and maintained its activity. This was mainly thanks to the Czech capital, according to Colliers' experts, and this trend will continue in 2025.
Only one new office building has been completed in Prague in Q3 of 2024. On the other side, efforts to upgrade some older properties have continued either on an ongoing basis or by temporarily taking them off the market, according to a survey prepared by Colliers.
The demand for industrial space has been still below the five-year average in the third quarter of this year, published Colliers in its regular quarterly industrial real estate market report. However, the first signs of market recovery have appeared and the number of concluded contracts has grown slightly.
Romet makes its debut at Gemini Park Bielsko-Biała (southern Poland). The 190 sqm bicycle showroom is located on the ground floor at the entrance to the gallery.
A showroom of the German brand Ulla Popken - one of the leaders in plus size fashion worldwide - has opened in Silesia City Center. This is the brand's fifth shop in Poland and the first in Silesia. It has the area of 220 sqm.
An Italian restaurant from the Semolino chain will open in the AFI Home Metro Szwedzka multifunctional complex in Praga-Północ district of Warsaw. The tenant will occupy the entire space (640 sqm) of Pudełkarnia building.
New appointments
Atakan Turhan has been appointed as General Manager of Radisson Blu Hotel and Park Inn by Radisson in Bucharest. Turhan brings over 30 years of hospitality experience, including 20 years with Radisson Hotel Group.
The Industrial and Logistics Agency of BNP Paribas Real Estate Poland is expanding. In early January, Ludwika Korzeniowska took the helm of the agency, with Grzegorz Furmanek joining the team as Senior Consultant.
Tomasz Chojnacki has taken up the position of Deputy Head of the Office Department of CBRE Poland. In his new role, he is responsible for the management and development of the office sector and the development of a coherent business plan for all services for clients in this market segment.
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