Markets like Poland have recorded rental growth of 20% and the upward trend is visible almost everywhere across P3 Logistic Parks’ European portfolio. During MIPIM, Property Forum sat down with David Marquina, Chief Development Officer of European Development at P3, to talk about the drivers of European logistics markets and to find out what’s next for the developer.

Hungarian developer and investor Wing and asset management company Griffin Capital Partners (GCP) have successfully finished the acquisition of the German developer Bauwert AG. 

The Polish Chamber of Commercial Real Estate (PINK) has published figures summarizing office market in eight major regional markets in Poland (Kraków, Wrocław, the Tri-City, Katowice, Poznań, Łódź, Lublin, Szczecin) for Q1 2023. The data is sourced from advisory companies from the commercial real estate sector (BNP Paribas Real Estate, CBRE, Colliers, Cushman&Wakefield, JLL, Knight Frank, Newmark Polska, Savills) and includes information on existing modern office stock, new completions, take-up volumes and vacancy rates.

The frozen Czech residential real estate market experienced a minor shake-up when developer Central Group put fifty new apartments on the market in Prague's Harfa at a big discount. According to the developer, they were sold out in a few hours. The price was CZK 100,000 (€4,250) per sqm, a quarter cheaper than is usual in the locality and a third cheaper than the Prague average, writes Hn.cz.

The latest data from Q1 2023 show a recovery of the new flats market in Prague. Quarter-on-quarter, sales increased by almost a fifth. The mortgage market, which has also seen a rally in recent months, but also the return of investors, will have an impact on further developments. Neither offer nor sale prices have changed significantly compared to the previous period. This is mainly due to persistently high construction costs, slow permitting of new construction and temporary postponement of some planned projects, according to the market analysis of development companies Trigema, Skanska and Central Group.

Despite the general slowdown of investment activity in Europe, properties in Poland remain attractive to both local and foreign investors. Avison Young Poland summarised the current situation in the Polish investment market.

Property investment group NEPI Rockcastle will open its new Promenada Craiova shopping centre this October, following an investment of more than €125 million. The project will include more than 150 stores and will create over 1,500 jobs in the city based in southern Romania. 

Ghelamco has become a member of the Partnership for Climate program initiated by the City of Warsaw.

The developer has launched construction work on Panattoni Park Tricity East III, which on completion will comprise 44,300 sqm, of which 33,600 sqm has already been leased.

Hungarian investment fund Adventum Group has achieved the Excellent rating in accordance with the BREEAM In-Use standard for green buildings certification for its Hermes Business Campus (HBC) office project based in Bucharest.