City heatwave phenomenon challenges property owners

24
Sep
2024
News - City heatwave phenomenon challenges property owners #Czech Republic #Prague #report #Savills

by Property Forum | Report

Extreme heat, droughts, and floods are becoming more frequent, and the ability of cities to prepare for these climate changes is playing an important role. In terms of heat, the top three cities in the new Savills Heat Resilience Index are Helsinki, Copenhagen and Stockholm. 


The index assesses 30 global cities best prepared to deal with extreme urban heat. Here, extreme temperatures and days over 30°C are rare, while progressive policy around ESG helps to mitigate the effects of extreme weather on their populations. In the comprehensive Heat Index, Prague was not evaluated. However, according to statistics from the Czech Hydrometeorological Institute, there were a total of 26 days in Prague in 2023 (station Prague-Vinohrady) where the temperature exceeded 30°C, placing Prague among the "cooler" cities.

The Index reveals that half of the top 10 ranked cities are in Europe, but even these cities may face risk as heatwaves are especially dangerous in places where buildings are not designed for extreme temperatures. Conversely, cities that regularly experience days over 30°C may be more adapted to hot weather, through extensive use of air conditioning. 

Ilona Zusková, Head of the Meteorology and Climatology Department at the Prague branch of the Czech Hydrometeorological Institute, says: "Based on the linear trend over the 30 years from 1994 to 2023 at the historical Klementinum station in the centre of Prague, the average annual temperature is increasing by 0.6°C per decade. The number of days with temperatures above 30°C increases by 4 days per year."

Jan Jurčíček, Head of Building & Project Consultancy at Savills, adds: "As a result of the heat wave phenomenon, property owners face two specific challenges. The first is the transitional risk of ensuring that properties are adapted to cope with climate change and aligning energy consumption with future legislation. The second challenge is compliance with the so-called EU taxonomy, which sets, among other things, the rules for climate adaptation. Non-compliance with the taxonomy could, in the future, make properties difficult to finance and trade."

“Urban heat should be considered by authorities when planning large regeneration schemes, especially where they involve densifying as this can intensify urban heat, and it is existing local communities that may be impacted most. Higher land values facing parks and water bodies often result in a concentration of taller buildings. This can form a ‘wall’ effect, hindering the dissipation of cooler air deeper into the urban environment. The solution lies in having a mix of building heights and permeability in the streetscape,” closes Chris Cummings, Director at Savills Earth.
 




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New leases

  • Court One has signed a lease for approximately 6,300 sqm of space at MLP Business Park Vienna. The tenant, a subsidiary of the Padeldome group, is currently Austria’s largest operator in the sector, managing 42 courts across four locations in the capital.
  • Polish fashion and lifestyle brand Medicine has accelerated its domestic expansion, headlined by the opening of its largest store to date, a 985 sqm flagship at the Silesia City Center in Katowice. This strategic scale-up is mirrored by simultaneous growth in several regional markets, including a new 740 sqm unit at Magnolia Park in Wroclaw and a 600 sqm extension at Galeria Warmińska in Olsztyn. The retailer further bolstered its Silesian presence with a 500 sqm location at Pogoria Shopping Centre and a new opening at CH Platan, significantly increasing its total floor space across Poland.
  • IAG GBS Poland, the shared services arm of the International Airlines Group (IAG), has finalised a lease renewal for 2,246 sqm of office space within the O3 Business Campus in Krakow. The decision to remain in the current location followed a comprehensive market analysis and workplace audit conducted by Savills.

New appointments

  • Avison Young has strengthened its Polish leadership with three senior promotions. Patryk Błach ascends to Associate Director within the Investment Advisory Department. Kamil Głowienka has been named Senior Project Manager. Furthermore, Katarzyna Uzar becomes a Valuation and Innovation Specialist, tasked with integrating technological solutions and coordinating global departmental projects.
  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.
  • Czech investment group SCF has expanded its team by appointing Jan Simandl as Senior Leasing Team Leader. In this role, Simandl will oversee leasing activities across the company’s commercial property portfolio. He previously worked for CPI Property Group and CBRE.


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