ARTICLES LABELLED WITH TAG Czech Republic

The modern, developer-led warehouse stock in the Czech Republic has almost reached 10 million sqm and it may surpass 11 million within a year. A record amount of space was under construction as it has reached a 103% increase compared to Q1 2021. Gross take-up (including renegotiations) also grew in Q1 2022. This quarter also marks the end of the decline in the vacancy rate after almost two years. A total of 175,300 sqm of modern industrial premises is available for immediate occupation. The Industrial Research Forum has announced industrial market figures for Q1 2022.

The Prague office building Parkview currently owned by Deka Immobilien is now 100% leased. The nine-story building developed and finished in 2020 by Skanska in the Pankrác district will house the software company JetSoft and the research technology company Lucid, Skanska, the original developer of the building, announced today.

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.