VGP has gradually leased over 49,000 sqm of warehouse space in its VGP Park Olomouc to Hella Autotechnik Nova. The first contract was signed last November. It has now signed another contract with the concern for space that is still under construction. The transaction was announced today by VGP.

PSN is expanding its team. Radek Hlaváček has joined PSN as Director of Projects. He will be responsible for managing projects in various stages of preparation and construction, including strategic planning and analysis of investment plans, the company reports.

Prime rent in the first quarter of 2022 increased again and is in the range of €24.00-24.50 per sqm per month in the city centre. In addition to rents, rising construction prices are still reflected in offers of allowances for office build-outs or other incentives. The Prague Research Forum published the office market figures for Q1 2022.

As the pandemic forced many of us to shift a work-from-home routine, some people predicted that “the office is a dead concept” and that it will never return. I would agree that the office as we knew it is actually really dead, but the “new office” is here and all of us need to adapt to it, writes Petr Florián, Associate Director, Office Leasing at Avison Young in the Czech Republic for Property Forum in an opinion piece.

Developer J&T Real Estate CZ will build a new business zone with a city park in Hradec Králové near the D11 motorway. Thirty shops and a hobby market will be located in an area of more than 40 hectares. The total investment in the project will be around CZK 3 billion.

The residential development market in the Czech Republic will be expanded by a new grouping of PPF and Karlín Group. Together, they will build residential projects in Holešovice and Libeň in Prague with a total investment value of CZK 4 billion, the company PPF announced. 

The Prague City Council plans to start building hundreds of council flats for rent in the coming years. The municipality wants to address the deepening housing affordability crisis in this way, E15.cz reports.

Leading tax advisor Petr Karpeles, Partner at TPA Czech Republic, sees new market players entering the Czech market, in addition to a strong appetite from existing investors for new products. He shared his observations with Property Forum related to the current investment market sentiment based on consultations with clients.

There is currently over 46 million sqm of industrial space in the CEE region, of which one-fifth is in the Czech Republic and the largest part – more than a half – in Poland. There is more than 900 sqm of industrial space per thousand inhabitants in the country. Just 1.6% of the space in Czechia is currently vacant. A record-breaking 1,112,000 sqm is currently under development in the Czech Republic – the highest figure in history. Demand on the part of logistics, distribution and e-commerce companies is growing. Cushman & Wakefield has analysed the trends in the industrial property sector in five Central European countries (Czech Republic, Hungary, Poland, Romania and Slovakia) in 2021.

The Czech government plans to introduce subsidy programs that could significantly help fund housing for refugees. In addition to funding from the state budget, money from the National Recovery Plan is also being considered. The use of the money depends on the approval of all EU-27 countries, Czech daily E15.cz reports.