The real estate market expects a strong investment impulse this year. Interest on savings accounts is falling and many Czechs are planning to move their money elsewhere. At the same time, the domestic real estate market is stable and in many ways more efficient than in other countries. The funds will use the newly raised money for acquisitions.
Almost a third of the office market in Prague is twenty or more years old. This presents a problem for many tenants, not least because they cannot emphasize sustainability in these buildings and thus meet their ESG goals. Building owners are offered a solution in the form of complex renovations, but according to experts from Colliers, this is hindered by the low vacancy rate on the Prague office market, which offers few alternative spaces. Nevertheless, it turns out that the reconstruction of old buildings can be less demanding than the construction of new ones. A well-planned and well-executed strategic renovation can bring long-term benefits to landlords, including higher rents.
Czech developer FINEP and international investment and development group AFI Europe have announced two signed transactions that will add more than 800 apartments in two different locations to the Prague rental housing market over the next three years. FINEP will newly build two apartment buildings with more than 300 apartments for AFI Europe in the Nová Elektra project in Prague 9 - Hloubětín. In addition, AFI Europe is buying from FINEP the project "V Korytech" in Prague 10 – Strašnice where AFI Europe intend to develop residential project having more than 500 apartments. Moreover, the two companies expect to cooperate on rental housing in other locations soon.
The office market is slowly recovering from a deep depression. Managers are looking to more modern workplaces not only to meet future sustainability requirements, but also to entice employees from their homes back into the workplace. Škoda Auto recently moved to new offices, large media houses are changing their addresses, and Česká spořitelna, for example, is already looking at a modern building in Smíchov. Some authorities and public institutions are also looking for a new seat. However, many companies prefer the reconstruction of existing buildings.
The rebranding and reconstruction of the building on Karlov náměstí concerns retail and office spaces and architectural modifications with the installation of a new logo and brand identity.
Despite the current weakening of the investment activity in the Central and Eastern European region (CEE) volumes of investment in commercial real estate in the Czech Republic in the first quarter of 2024 recorded a year -on -year increase of 36 %. In total, in this period, capital was invested in the volume of EUR 545 million, dominated mainly by local investors. The yields did not notice any significant movement compared to the previous quarter. According to Colliers' estimates, a leading provider of diversified professional services in the field of commercial real estate and investment administration, the total volume of transactions in 2024 should reach EUR 1.4 billion. This would mean the end of the three -year decline period and the hope that the Czech real estate investment market is reflected from the bottom.
This year, the city of Ostrava completed the preparation of a new strategic plan for the development of Ostrava with a view to 2030. The main vision is fundamentally unchanged compared to the previous plans. The efforts to connect the city internally and with the world and the revival of the historic core remain among the priorities. Closely related to this is the construction of new buildings that Ostrava will be proud of and which in a wider context will benefit the general public. However, the local government cannot satisfy such construction alone. Therefore, private investors become important drivers of urban development. Only an open and cooperative approach from both sides has the potential to meaningfully develop the city - with ecologically sustainable construction and valuable architecture.
Koncern Passerinvest v březnu zkolaudoval novou administrativní budovu Roztyly Plaza na Praze 11, přímo u stanice metra C Roztyly. Projekt tak nově rozšířil pražský kancelářský trh o 21 700 m² kanceláří poslední generace, ze kterých je aktuálně již jen polovina k dispozici. V přízemí budova nabízí 1 600 m2 obchodních jednotek. Ty od dubna obsadí například moderní kantýna s kavárnou Perfect Canteen, lékárna a specializovaný obchod s drony. Kromě snadné dopravní dostupnosti je velkou předností projektu jeho velkorysé propojení s přírodou díky těsné blízkosti Krčského lesa a městského parku Nové Roztyly. Za architektonickým ztvárněním budovy Roztyly Plaza stojí studio Aulík Fišer architekti.
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