ARTICLES LABELLED WITH TAG report

The industrial real estate sector remains the least affected commercial real estate sector in Slovakia. In the second quarter, the market recorded solid leasing activity, reaching almost 120,000 sqm of industrial space. Cushman & Wakefield published its Q2 2020 snapshots for Slovakia’s office, retail and industrial sector.

Globalworth intends to launch a €1.5 billion issue under its Euro Medium Term Note (EMTN) Program. The notes will be sold on the Dublin Stock Exchange.

In terms of tenant activity, the major regional markets can speak of a better H1 than a year ago. Despite the expected slowdown, some companies continue to expand their business. JLL summarised the situation on the Polish office market at the end of H1 2020.

Calea Victoriei in Bucharest, the 2.8-kilometer-long artery between Piața Victoriei and Piața Națiunilor Unite, will continue to grow as an office and hotel hub in the upcoming years, with the developers' plans to build seven new office buildings and six hotels as a result of investments that could exceed the €300 million threshold, according to Cushman & Wakefield Echinox.

GTC’s rental income suffered a €2 million decrease due to rent and service charge relief imposed by governments during the lockdown of shopping malls. Still, total rental and service charge revenues increased to €41 million in Q1 2020 from €39 million in Q1 2019. GTC presented its financial results at the end of Q1 2020.

JLL and LaSalle have published the latest edition of the Global Real Estate Transparency Index – GRETI. As emphasized by the authors of the report, although there is a greater emphasis on corporate social responsibility and the use of new technologies, we are currently facing the slowest rate of transparency improvement since the period directly following the Global Financial Crisis.

The H1 data indicate that the worst-case scenarios regarding the effects of the COVID-19 pandemic on the Warsaw office market did not materialize. According to a report published by Cresa Poland, the second quarter witnessed a substantial volume of new supply which has now been almost fully absorbed by the market. A total of 100,000 sqm was delivered in Warsaw with an additional 700,000 sqm currently under construction.

The modern retail stock in Romania, consisting of shopping centres, retail parks and commercial galleries with a leasable area of ​​at least 5,000 square meters, has reached 3.96 million square meters and will exceed the 4 million sqm threshold until the end of the year, according to Cushman & Wakefield Echinox.

Total office market demand reached 335,000 sqm in H1 2020 on the Warsaw office market. In fact, demand for office space in Q2 was significantly higher than in Q1. Vacancy rates across Warsaw increased slightly by 0.1 p.p., with 770,000 sqm under construction. JLL summarised the Warsaw office market in H1 2020.

New housing has become more expensive in most European countries over the last years, including 2019. Among 23 countries participating in Deloitte Property Index Study, 20 showed growth in prices of new dwellings and only three of them saw a price decrease. Experts in the residential real estate market expected the growth trend to continue in 2020, but they became less optimistic in the context of COVID-19 pandemic. Thus, in almost half of participating countries, the residential market is expected to stagnate this year in terms of price and experts in only six countries have positive expectations.