„2012 has started with solid take-up, although almost half of it was
attributed to renegotiations. Due to no supply, vacancy rate decreased and we
expect further fall in the upcoming months until the new space will be delivered
before the end of this year“, said Oliver Galata, Head of Office Agency CBRE
in Slovakia. Total leasing activity in Q1 2012 reached 24,191 sq m, while
almost half of this amount was attributed to renegotiations. Overall office
vacancy rate decreased slightly by 100 bps q-o-q to 10.2%.
Stability is the name of the game on the Czech Republic real estate market in
2012. This is according to the recently published annual report by Colliers
International, 2012 Eastern Europe Real Estate Review: Czech Republic. The
report provides a summary of 2011, an examination of recent trends, and
prognosis concerning the office, retail, industrial and investment markets of
the Czech Republic in 2012. The report also comments on the economic conditions
within the country, as well as its proximity to Germany, in relation to overall
future outlook.
Colliers International looks forward to 2012 with optimism. Colliers is a
leader in the industrial market in Poland and Eastern Europe. In the office
market the region is at the forefront in terms of market representation, Romania
has the largest investment market share.
The Prague Research Forum is pleased to announce the office market figures
for the fourth quarter of 2011. The members of the Prague Research Forum – CB
Richard Ellis, Colliers International, Cushman & Wakefield, DTZ, Jones Lang
LaSalle – share non-sensitive information with the aim of providing clients
with consistent, accurate and transparent data about the Prague office
market.
It seems that the situation in the housing market is finally starting to
stabilize. If there are still objections raised in some cities, this would
certainly not be the case of Bratislava. As Lexxus, a company operating on the
Slovak housing market since 2005, notes in its latest newsletter, there were new
projects in the capital during the summer and early autumn and the number of
sold flats also increased. What stirred it up, according to Lexxus? Discounts,
but also well selected products in an attractive location. Real estate experts
also add the availability of mortgages, and they all claim that the best time to
buy a flat or a house has come now.
According to a recent survey conducted by KPMG, investment in real estate
projects in Central and Eastern Europe (CEE) has shown increase in 2011. Banks´
trust in their financing is yet the highest in Poland, Austria and the Czech
Republic, followed with some distance by Slovakia and Romania. Banks’
optimistic outlook of the real estate market is also positively reflected in the
total value of investment transactions.
Looking at the office property development now, apart from the quarterly or
yearly comparison, it is clear that something is – at least in the capital of
Slovakia – finally stirring. Investor Pressburg Urban Projects the launched
long postponed construction of an office building Forum Business Center at the
corner of Bajkalská and Prievozská streets. This project will bring
17,600 sqm of A-class leasable area. Company Immocap Group announced just a few
days ago that the 19,000 sqm of administration section of the multi-purpose
complex Centrál, which is expected to be completed within next year, is already
75% occupied. Yet, this is not all.
Since 2006, our company CEEC Research carries out regular research of the
construction sector in the Visegrad Four countries. Over this six-year period,
we have had the opportunity to monitor the development not only of construction
sector itself, but also changes in behaviour and management of individual
companies. Especially the last three years were very turbulent in this respect,
and without exaggeration we can call them the beginning of transformation of the
Czech construction industry.
Not only people, but also websites need to take a rest, so we will take leave
partly in August. But really only partly as we will continue to bring news on
events in the real estate sector. Certainly, they will not be dull affairs, the
real estate is truly “pregnant“ with expectations. “Hopefully it will get
going!“, this is what Omar Koleilat from Crestyl hopes in the interview you
will soon read on our website.
The project for more than a billion crowns, the construction of office centre
Nová Karolina Park near the Ostrava downtown is on track again, after a
two-year break. A new investor has been found – company GEMO Olomouc has put
200 million crowns into the project. Construction work was resumed last week.
“We had to take some risk. But we are glad that we could enter into the
project,” said Jaromír Uhýrek , CEO of GEMO Olomouc.
