The decline in investment volume, which has been recorded this year in all sectors of the commercial real estate market in Poland, is particularly visible in the office segment. Despite the relative recovery that was observed at the end of the summer, the total value of the transaction volume recorded in Q1-Q3 2023, amounted to only ca. €1.7 billion, with merely ca. €267 million allocated in office assets. However, in this time of slowdown, there is also room for success. Avison Young's investment team can boast of approximately one-third of completed transactions in this sector - both in terms of volume and number of transactions.

The Hexagon Group, controlled by Romanian entrepreneur Florin Mariș, has purchased a land plot spanning close to 7 hectares in Cluj-Napoca. The buyer plans to develop an urban regeneration project on the former industrial site. The value of the transaction was not made public.

It is anticipated that the market will experience the transition from being perceived as a problem to an opportunity for many investors and funds in 2024. CBRE summarised this year's developments in the Czech commercial real estate market and provided an outlook for 2024. 

Logistics developer CTP has built a new coworking centre named "Clubco' in the IQ Ostrava complex on Náměstí Republiky where the company Tietoevry was previously located. The premises are suitable for small and medium-sized companies, as well as corporations or freelancers. Up to 130 people can work together in 1,512 sqm of office space.

Compared to other cities, gross yields in Budapest, calculated from purchase prices and revenue from rent, are among the highest, which means the Hungarian capital is still a great destination for those investing in residential property. While the prices of apartments have skyrocketed in recent years in Hungary, residential property in Budapest is still quite inexpensive according to a joint study made by local developer Wing and research centre Eltinga.

The construction of a modern distribution centre by HAVI Group has begun. The new distribution centre in Velika Gorica will cover an area of 8,300 sqm. HAVI has entrusted the process of location selection and tendering the developer to CBRE. 

CTP has started construction on three new business parks in Poland totalling more than 215,000 sqm of leasable space. The new parks in Łódź, Częstochowa and Bydgoszcz reflect CTP’s entry into new regional markets in Poland.

The Greenfield Plaza shopping centre, which is located in the Greenfield Băneasa project developed by Impact Developer & Contractor has obtained the BREEAM Excellent certification following the evaluation carried out by BuildGreen.

Following the extension of the Eurovea waterfront, JTRE presented its new project in Bratislava. The project called Downtown Yards will transform a former industrial site into a residential area. Sales and construction will start next year, and the project already has a building permit.

Penta Real Estate has begun construction works on a new office building in Bratislava‘s Chalupkova zone at the beginning of December, ASB reports.