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.
 




Latest news


New leases

  • Banca Transilvania has renewed its lease for 1,200 sqm in AFI Park Timișoara, in a deal brokered by Cushman & Wakefield Echinox.
  • Revetas Capital has secured four lease transactions totalling 5,700 sqm of gross leasable area at the Bonarka for Business (B4B) office park in Kraków. The transactions include a new lease agreement with telematics firm Geotab, alongside three lease renewals. Geotab has taken up office space in Building E of the complex. Concurrently, KION renewed its commitment to 4,000 sqm of office space within the same building. The remaining two lease renewals were finalized for spaces in Buildings F and D. Cushman & Wakefield represented Geotab, and JLL advised KION on the deals.
  • Sirowa Poland has relocated its office in the revitalised mixed-use Centrum Praskie Koneser complex. The international distributor of cosmetic and pharmaceutical brands leased 958 sqm in Building P at the development, in a deal brokered by Savills.

New appointments

  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.
  • BNP Paribas Real Estate Poland has expanded its Industrial and Logistics Agency team with the appointments of Joanna Choromańska, formerly of JLL, and Bartosz Wilczyński, previously with CBRE. The new hires bring a combined 34 years of experience in sector sales, lease negotiations, and build-to-suit project delivery to support the division's ongoing growth.
  • Speedwell has expanded its industrial and logistics team with the appointment of Valentin Achim as Leasing and Property Manager for Industrial Developments. Achim brings extensive experience in coordinating commercial and operational activities within the logistics and industrial sectors. In his new role, he will oversee the development and expansion of the company's Spaceplus platform.


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