With increasing pressure on ESG, developers are looking to save energy and reduce the amount of CO2 their buildings produce. They are using a variety of technologies, such as solar panels, batteries, heat pumps and energy-saving lights. These things help, but how people use the building is also very important. Even if a building has an excellent energy rating, it can still use a lot of energy if people make mistakes. Loxone helps to correct these mistakes. It automates many routine tasks in the building, and as a result, energy costs are typically cut by up to half.
In the third quarter of 2024, approximately 188 million euros were invested across the main real estate sectors. Although this is one of the lowest volumes in recent years, a full 100% of buyers were from the Czech Republic. The total investment volume for the first three quarters of 2024 exceeded one billion euros. There were a total of 34 transactions. Approximately half of the properties with which transactions have been carried out so far in 2024 are located outside Prague. This is according to a regular quarterly survey published by Colliers, a leading provider of diversified professional services in the field of commercial real estate and investment management.
As part of the 32nd edition of the Building of the Year competition, which is organized annually by the Foundation for the Development of Architecture and Construction, the Roztyly Plaza administrative building of Passerinvest Group was awarded the prestigious title of Building of the Year 2024. It received the title for the purity of the building's architectural and structural design and its urban concept location in the area immediately following the Krčský les. According to the jury, the building is an example of modern administrative architecture, which destroys the stereotypical ideas of the lay public about office buildings as "glass-concrete hells" taking up public space. The jury was also impressed by the building's friendliness, well-thought-out shape solution, accessibility and connection of the external and internal environment.
Flexible offices will grow by 161,303 m2 in the EMEA region in 2023. The main drivers of this growth were mainly large global companies, such as HSBC, KPMG and Microsoft, which decided to transform their work environment and adopt flexible solutions. This trend also worked as a catalyst for the transformation of traditional coworking spaces into corporate-class workplaces. This follows from the Flexpansion study by Colliers.
In the 3rd quarter, there was only a slight increase in the total area of modern office space in Prague, and it continues to be slightly above the 3.95 million m² mark. In the first nine months of 2024, 69,500 m² of office space was completed in Prague, which represents a decrease of 29% compared to the same period in 2023.
Since the beginning of the year, the office vacancy rate in Prague has increased from 7.4% to the current 8.1%, which represents the highest value this year. A total of 318,200 m² of office space was immediately available. On a year-over-year basis, the current vacancy rate is 78 bps higher than the same period in 2023.
The total rental activity for the first three quarters is 458,100 m², which represents a year-on-year increase of 27%. Renegotiations of existing contracts accounted for more than 49%, similar to the same period last year.
Net demand increased by 26% year-on-year, reaching 222,800 m² in the first three quarters of this year. Thanks to the ČS transaction, the financial sector is the most active (44% of this year's net demand).
The basic rent for class A offices in the center of Prague and in the outskirts has stabilized. It increased slightly in the wider city center.
Well-being: how can the work environment contribute to improved mental health?
For many people, after a long "covid" break, the work environment is where they spend most of their time again. For this reason, it is important that the work environment is pleasant and supportive of their mental health. The trend of recent years is set clearly, give people what they want. Give them a pleasant working environment and they will be more willing to stay longer, finish the job and spend time away from home. And it makes sense. A happy colleague/employee equals better work ethic, results, engagement, willingness to stay longer, but it also translates into mood and relationships within the team.
The developer group Crestyl is returning the Baroque Savarin Palace in the center of Prague to the cultural map of the metropolis. The most valuable historical spaces of the newly renovated listed building by Kilian Ignác Dientzenhofer will no longer be occupied by the casino, but will be reserved for exhibitions. The reconstruction of the baroque Savarin Palace has been practically completed and is the first part of the entire Savarin project, which will open previously inaccessible places in the heart of the metropolis to the public.
Profile Furniture has completed the implementation of interiors of the new CEZ office building at the Dukovany nuclear power plant. The total volume of the contract reached CZK 11.4 million. The design of the building is the architectural studio DI5, which held the design inspired by the power plant itself. The project included 242 jobs, meeting rooms, dining room, classrooms and workshops and was implemented in two stages in the first half of this year.
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.
