An overview of the office space market in Brno and Ostrava for the second half of 2023 from the Regional Research Forum reveals a dynamic market, renegotiations by leading technology and pharmaceutical companies and stable rents.
Even in the Czech Republic, we know how to build timeless workplaces that are maximally adapted to the needs of employees, energy efficient, sustainable and also architecturally interesting. The proof is the ČSOB branch in Králové-Hradec with a capacity of 1,050 jobs, which is one of the most modern of its kind in Europe. The building received the LEED Platinum certificate, which means that it meets the strictest ecological standards and is environmentally friendly. Schneider Electric, which equipped the building with modern technologies for energy management, made a significant contribution to achieving this level.
In the region of Central and Eastern Europe (CEE-6 countries), a significant increase in the GDP growth rate is expected this year, from less than 1% last year to approximately 2.5%. According to experts from the Colliers company, which belongs to the top in the provision of diversified professional services in the field of commercial real estate and investment management, activity will therefore begin to increase in the commercial real estate market in this region in the second half of the year. However, the condition for this development is a reduction in interest rates in the eurozone. At the same time, retail parks will continue to be the main engine of growth. Other trends and forecasts published by Colliers for the CEE region in 2024 will include:
Europe's commercial property market is showing signs of recovery, with rents expected to rise and yields to stabilize. The Czech Republic may follow this trend with a slight delay, but the positive outlook on the real estate market for 2024, as well as the increased demand for quality and sustainable premises, signal the time for action for investors and tenants.
There is a great demand for high-quality office space in Prague, thanks to which the owners of so-called A-class buildings in particular can be proud of almost full occupancy. The problem, however, is almost zero construction, experts agreed.
WorkLounge Business revolutionizes the working environment by offering top serviced offices with a range of exclusive benefits for professionals. With a focus on safety, an individual approach and an inspiring environment, it offers ideal conditions for the growth and prosperity of both individual professionals and large companies.
The Scott.Weber Workspace company, which operates flexible offices, coworking and event spaces, is buying the Base coworking center from Penta Real Estate, which is part of the Churchill office complex in Prague 2. The companies did not state the price in the announcements, according to ČTK sources, the value of the transaction did not exceed hundreds of millions of crowns. Base will be the 13th Prague branch belonging to the Scott.Weber network.
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