Prague, 11th June 2012 – Centrum Černý Most shopping centre fully meets the required standards and achieved a BREEAM rating of “VERY GOOD”. The new certificate represents an important milestone in the development of the new supra-regional shopping centre and confirms the sustainable approach of its developer Unibail-Rodamco. It is the first building in Prague certified BREEAM ”VERY GOOD” in the “Retail” category.
“As China and India’s share of world output is set to increase markedly over the next decade, this implies increased trade between themselves and Europe,” says Omar Sattar, MRICS, Managing Director, Colliers International Czech Republic. “Given pressure to lower both business and environmental costs in supply chains, we expect an increased push for additional trade to begin to flow increasingly through Europe’s southern entry points.
„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.