ARTICLES LABELLED WITH TAG Czech Republic

During the fifteen years YIT has been present in the Czech market, the company has seen a significant change in the behaviour of its clients, their demands and its emphasis on high quality. If we add to this the recent rise in energy and building materials prices, we are motivated to look for new materials with minimal environmental impact, says Dana Bartoňová, Sales Director of YIT Stavo in an interview with Property Forum.

In their global real estate outlook for 2023, the Savills World Research team says that capital value increases in most real estate sectors around the world in 2023 will be minimal, and rental growth prospects limited, but investment activity may rebound in H2 2023.

Increase in flexible working patterns brought on by the Covid pandemic has had a positive influence on our ability to juggle these two competing pulls on our time and focus, says Clare Sheils, Managing Director of CBRE in the Czech Republic. She talked to Property Forum about market expectations, the ongoing energy crisis and being a woman in top management in real estate.

As the European Union has proposed the move towards zero-emission buildings by 2030, a significant portion of the energy consumption of these projects should be covered by energy from renewable sources. This includes renewable energy produced on-site or nearby so property companies are starting to invest in such facilities in a bid to lower operating costs and meet targets under their ESG agendas. The investments in such capacities have been boosted by the high energy price environment and the need of property companies to enhance the security of power supplies.

A stagnating market, stable prices of quality properties and further inflation of the rental housing bubble. These are the key trends of the Prague residential market at the end of last year, according to an analysis by Svoboda & Williams.

Another new residential building, Oliva, built by Passerinvest in Prague Brumlovka, was approved in December. The first residents will start moving into the 72 flats in the first quarter of this year, the developer announced. 

The Czech real estate market in 2023 will be driven mainly by inflation, which will also determine this year´s ten real estate market trends. Among them will be high construction costs, pressure for ESG compliance and looking for a balance between savings, spending a responsible investing, says Colliers in its real estate market prediction for this year.

Stefan de Goeij has rejoined CTP as ESG and Energy Lead, after a two-year break, reporting directly to the company’s founder and CEO Remon Vos.

PPF continues to divest its Russian portfolio. It has completed the sale of its 60 percent majority stake in the giant South Gate logistics centre near Moscow. The deal is said to be the largest of its kind in a decade, Russian news server Metalinfo.ru reports, cited by Czech daily E15.cz.

The commercial real estate investment market in the Czech Republic is stagnating. Analysts see the year 2023 as a challenging year. However, the market was dominated by domestic capital last year and there is still a mismatch in the expectations of buyers and sellers, according to a Knight Frank report.