Cushman & Wakefield has released a summary of office market conditions in Warsaw. This year’s development activity is expected to fall to its lowest in nearly 25 years amid a record number of leases, falling vacancy rates and the continued upward pressure on rental growth. 

Accolade has expanded its management team with the addition of a new director responsible for the commercialisation of the entire group's portfolio. Joanna Sinkiewicz brings over 16 years of property industry experience and will be responsible for achieving the company's strategic goals.

KREO, Ghelamco’s newest project in Kraków, has received an occupancy permit. More than 24,000 sqm of office space awaits tenants.

Futureal has announced the acquisition of the Lipowy Office Park complex in Warsaw. In alignment with its strategy, the company plans to reposition the development by transforming it into a sustainable, human-centric, and modern office building. Linklaters has advised the seller on the transaction.

The automotive industry had a share of 56% of the total demand for production spaces in industrial projects between 2013 and H1 2023, according to CBRE data.

Hungary's office market has slowed down, tenants are more cautious. Sadly, it often results in drawn-out decision-making as tenants focus on safe solutions, fearing the unpredictability of the future. In consequence, there are more renewals and fewer relocations. However, demand for experienced advisors providing high-added value is ever-growing, as the alternative – rectifying a poor lease contract after it is signed – is difficult and expensive, says Valter Kalaus, Managing Partner of Newmark VLK Hungary.

Real estate investments continue despite the slowdown of the economy, with offices and industrial mentioned as some of the segments seeing increased demand and higher deal volumes, concluded speakers of the 2024 outlook panel hosted at the SEE Property Forum 2023 conference in Bucharest.

UBM Development Czechia has sold an apartment building in the Timber Praha residential project to the real estate investment fund Future X1. Building M in the Timber Praha project, which represents the first multi-storey apartment building made of wood in the capital city, comprises 15 apartments with layouts from 1 + kk to 4 + kk and sizes ranging from 39 sqm to 110 sqm. The price of the transaction was not disclosed. 

The third quarter of the year has slowed down in terms of investment activity in comparison with the previous quarter. Namely, the most sought-after segments have been office schemes and retail parks. Both domestic and foreign investors have been active, with a slightly higher provision of international capital since the beginning of the year, CBRE SEE reports.

The Czech Post (Česká pošta) has announced a tender for the main post office building at the corner of Politických vězňů and Jindřišská streets in Prague. The asking price is CZK 1.538 billion (€62.3 million) excluding VAT. The tender was preceded by an offer of the building to state institutions, which was not taken up. This is according to information from the Czech Post on its website, the ČTK news agency reports.