Bucharest's office market has experienced last year its lowest level of new space delivered in the past two decades, according to a recent report by Colliers.
Investment incentives across CEE are proving to be a major draw for Research and Development (R&D) and Business Services Sector (BSS) projects, with support reaching up to 70% of qualified costs, according to Colliers' report.
Romania's land market demonstrated robustness in 2024, registering a transaction volume similar to 2023, of around €450 million, despite economic and political uncertainties, according to a Colliers report.
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.
Knight Frank has located its Polish headquarters in the Vibe building in Warsaw's Wola district. The office occupies the entire ninth floor of the building and offers nearly 1,000 sqm of space.
Logistics operator DB Schenker has leased an additional 9,800 sqm in the Hillwood Rawicz (western Poland) logistics centre. The tenant has been operating from the centre since the autumn of last year when it opened a service centre with an area of over 17,000 sqm for a manufacturer of optical products.
Soho by Yareal will enrich its horeca offer Green Caffè Nero café. The premises, with an area of nearly 190 sqm, will be located on the first floor of the Nefryt residential building under construction in the western part of the complex in Warsaw’s Praga-Południe district. The café is scheduled to open in May 2026.
New appointments
Piotr Krysztopa, a specialist in building technology and energy efficiency, is joining Avison Young's technical consulting department. He will strengthen the firm's expertise in data analytics and ESG solutions.
Leszek Stankiewicz has been appointed CEO of YIT in Poland as of 9th of April. YIT is the largest property developer in Finland, present in eight European countries. In Poland, the company has investments in Warsaw, Gdańsk and Kraków.
Paweł Dobrowolski takes over as head of the office department at CBRE Poland, replacing Łukasz Kałędkiewicz. Alexander Hofmann becomes the new head of the Warsaw office tenant representation team.
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