The Czech real estate investment volume reached €1.15 billion in the first half of 2022. This was a 60% increase and was mainly led by domestic investors who acquired properties worth more than €607 million. Even the number of transactions in Q2 surpassed Q1 of this year. Domestic buyers were involved in 11 of the 13 transactions in Q2, so the share of the domestic capital increased in total volume to 68%, Savills reported.
The current economy has to deal with a number of negative factors affecting not only our personal but also our working life. The Covid pandemic and its consequences, the difficult geopolitical circumstances caused by the war in Ukraine, the skyrocketing energy prices, steeply rising inflation – all of this has an effect on the office market as well. Today, their tenants are faced with the question of how big offices they will need in the era of the "new normal" - and also in what buildings in order to be able to pay the rent in the rented premises without problems (1). In the considerations of tenants, the price-quality ratio is increasingly coming to the fore. When applying this key criterion, it turns out that class "B" offices, although their share of the market for administrative space in Prague is significantly lower than class "A" offices, are definitely not Cinderella. On the contrary – for many tenants, they are now the ideal solution to their needs. The example of the successful Nagano Park administrative complex in Prague 3 can be used to show why "B" offices are and will be in vogue.
The assets of the WOOD & Company Office Sub-Fund will now be supplemented with their tenth office building. The eight-storey modern building offers 7,500 sqm of leasable office space. Green Point is the third Prague office property held by the WOOD & Company Office Sub-Fund. Since its inception in 2017, it has delivered an average annual return of 11.65% to investors, making it one of the most successful real estate funds in the Czech Republic and Slovakia.
There are 200 percent more flexible offices in Prague than five years ago. Scott.Weber Workspace, the largest operator of flexible and shared offices (so-called coworking) in the metropolis, recently opened premises in the Blox center in Dejvice. Flexible offices currently make up 2.7 percent of the 3.75 million square meters of office space in Prague, and further growth is expected. This follows from the analysis of the real estate consulting company JLL and information from Scott.Weber Workspace.
PlanRadar, one of the leading European platforms for digitization in the construction industry, which is already used in the Czech Republic by, for example, the construction companies BAK, Metrostav and Imos Brno, specialist in project management and technical supervision of buildings Unitrex Management or companies providing maintenance and property management such as Awigo or Trade Center Prague, launched a special tool focused on planning. It is designed to facilitate the construction of buildings and subsequently their maintenance and management. Above all, the novelty will facilitate the supervision of all tasks and help with meeting the set deadlines.
In the spring, despite the turbulent situation on the construction market, developer Crestyl began construction of four buildings that are part of the new Hagibor district in Prague, next to the Želivského metro station - two office and two residential buildings. Completion of the construction is planned for 2024. The very first two administrative buildings in this location will offer a total of 31,000 m2 of space for rent. Of this, almost 12,000 m2 will be occupied by the Czech News Center media house, which will move its headquarters here. The newly built residential buildings Gamma and Delta will be connected to the first two apartment buildings of the Hagibor project, which were approved in May. Gamma offers 138 apartments of all sizes, each with a balcony or terrace. The Delta building, newly bought by the investment company Invesco Real Estate, will then provide apartments for rent.
The coronavirus pandemic subsides with the onset of summer, and with it the need to work from home. However, the labor market and the way work is done has undergone a number of changes over the last two years. However, many companies are still looking for new models of office work.
The "Best of Realty" competition has entered its 24th year, which annually awards projects that represent the achievements and capabilities of architects, builders, designers, developers and, last but not least, real estate agents in selling or renting them. Domestic constructions completed and approved after January 1, 2021 can apply for nominations for awarded titles until September 2, 2022, when the application deadline. The announcement of results and awarding of prizes to the best projects will take place at the gala evening on November 15, 2022, traditionally the Prague Forum Karlín.
We use cookies to optimise site functionality and give you the best possible experience.
This site uses cookies to store information on your computer.
Some of these cookies are essential, while others help us to improve your experience by providing insights into how the site is being used.
Accept Recommended Settings
Necessary Cookies
Necessary cookies enable core functionality such as page navigation and access to secure areas. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
Analytics
Analytical cookies help us to improve our website by collecting and reporting information on its usage.
Marketing
We use marketing cookies to help us improve the relevancy of advertising campaigns you receive.
Social Sharing Cookies
We use some social sharing plugins, to allow you to share certain pages of our website on social media.
