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Articles - Office market

The volume of investments in commercial real estate in the Czech Republic reached 1.62 billion euros last year, the lowest since 2013

The volume of investment in commercial real estate in Central and Eastern Europe (CEE) in 2022 was approximately 10.7 billion euros. Although this is a year-on-year decrease of only 3.3%, compared to the situation before the pandemic, it is a reduction of more than 20%. At the same time, domestic capital was the most active with a 38% share of total transaction volumes. In the first half of 2023, commercial real estate markets will remain subdued due to significantly higher financing costs and the subsequent price correction currently taking place in both CEE and many other regions. Colliers experts estimate that in 2023 investment volumes in CEE could reach between 7.0 and 10.0 billion euros. This follows from a study by Colliers, a leader in the provision of diversified professional services in the field of commercial real estate and investment management.

Lenka Preslová became the commercial director for commercial real estate of developer Crestyl

In February, the development and investment group Crestyl appointed Lenka Preslova as its commercial director for commercial real estate. In the newly established position, she became part of the management of Crestyl in the Czech Republic, where she will lead the team dealing with the leasing and management of commercial real estate - both office and retail.

CBRE analysis: domestic office buildings are gradually being populated with modern technologies. The potential for further growth is huge

In today's digital age, we place more and more emphasis on the use of modern technologies - and office buildings are no exception. The main goal is to work efficiently with resources, especially with energy, and to make the users of these buildings as pleasant as possible during their stay in them. CBRE, the world leader in the field of commercial real estate services, presents in its latest analysis what smart office buildings can offer, how widespread the use of modern technologies is in the Czech Republic, and what companies should ask potential customers when looking for new premises in this regard. landlords.

Despite the war in Ukraine, double-digit inflation and rising fossil fuel prices, the commercial real estate market remained relatively stable in most CEE countries in 2022

The company Colliers, which is a leader in the provision of diversified professional services in the field of commercial real estate and investment management, in its new study entitled "Highlights 2022: CEE-6 Real Estate Market" evaluated the development of the real estate market in the Czech Republic and five other middle and of Eastern Europe in 2022. The market was primarily affected by the war in Ukraine, rising construction, operation and transportation costs and pressure to comply with ESG.

The gap in the center of Brno will be filled by an administrative building with a green roof

The vacancy created by the demolition of a vacant apartment building on the corner of Milady Horákové and Koliště streets in the center of Brno will be filled in two years by an administrative building with a roof garden. The development company Trikaya named the project Landmark and wants to start construction in the first half of this year. This was stated by a representative of the development company for ČTK.

The pandemic has helped shared coworking offices, attractive locations are occupied

Coworking and flexible offices are one of the few industries that have been significantly boosted by the coronavirus pandemic. Although HubHubu, the operator of two shared spaces in Prague, had its occupancy reduced to 50 percent during the strictest closures, this year it is reporting that it is practically occupied. One of the reasons is the hybrid work style, to which a significant part of companies have reoriented. Instead of startups, flexible offices are increasingly being rented by larger companies as well.

The Prague office market is expecting an increase in rent prices next year

After three quarters this year, the Prague office market already exceeded the volume of transactions from the covid years 2020 and 2021. The year-on-year increase in gross and net realized demand, i.e. new contracts and their extensions, amounted to 38 percent. Office vacancy has fallen by 0.3 percentage points since the start of the year to 8.1 percent, and demand for flexible space is growing. Prices will increase in the coming year, which, according to representatives of construction and real estate companies, will be reflected in inflationary clauses in contracts and energy prices.

According to the prestigious CIJ Awards, DOCK IN FIVE became the best administrative project of the year

At the end of last week, the Crestyl Group won the award for the best office project in the 22nd CIJ Awards, for the DOCK IN FIVE administrative building. It was approved in May of this year and is the last part of the now complete DOCK district, which has grown up around two blind branches of the Vltava in Prague's Libni. The CIJ Awards are the longest running awards in the field of commercial real estate in the Czech Republic and are also awarded in other countries of Central and Eastern Europe.

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