ARTICLES LABELLED WITH TAG Czech Republic

The popularity of the residential segment in the Czech Republic has increased among investors due to its stability. The availability of owner-occupied housing is decreasing, and trends are showing different younger generations' lifestyle requirements. According to a C&W report, investment in rental residential projects in the Czech Republic has tripled year-on-year.

Banks and building societies in the Czech Republic have provided mortgages to households in the amount of CZK 18.2 billion (€719 million) in March 2024. The volume of mortgages granted has increased by 15.5% month-on-month. The above information comes from the data of ČBA Hypomonitor, capturing data from all domestic banks and building societies providing mortgage loans.

Ostrava is dynamically changing for the better, partly through civic initiatives but mainly thanks to key development investments with the support of the city. One of the basic conditions for the revival of the city centre is also an increase in the number of residents. Currently, a private investor is planning construction on a brownfield at the intersection of Stodolní, Porážková and Masná streets. The city selected the location as its development area and put out a tender for the land. The winning project was Rezidence Stodolní from the development company Linkcity.

YIT has completed the third residential stage of Tornio, which expanded the multifunctional complex Lappi Hloubětín in Prague 9 with 79 new apartments. Almost half of the units are currently sold out.

Companies with expiring lease contracts are increasingly preferring renegotiation to move to new premises. One of the reasons is the high office fit-out costs, as the outcome of Cushman & Wakefield’s annual EMEA Fit Out Cost Guide is showing.

Geosan Development is launching another series of apartments in the Radimova Břevnov Residence in Prague 6. The developer has sold over 60% of the apartments in the project so far.

Colliers announced a change in the Managing Director position in Slovakia. Richard Urvay, Colliers’ current Managing Director in Slovakia is departing the business by the end of April to take up a client-side role. Tewfik Sabongui, current Managing Partner in the Czech Republic, will expand his responsibilities to include being Managing Director of Slovakia.

The Board of Directors of REICO IS ČS is now complete again. The company decided to rely on internal resources.

YIT's Happi Milánská project in Horní Měcholupy in Prague 15 has been approved for use by authorities. The company built the project using a system of prefabricated concrete elements.

CPI Property Group has published its audited financial results for the financial year ended 31 December 2023, confirming a stable market environment with high occupancy figures. On the other side, the figures have shown a considerable net loss of €877 million, driven predominantly by a non-cash negative revaluation result. Property Forum asked CPIPG spokesman Jakub Velen to comment on the figures and provide an outlook for the year ahead.