ARTICLES IN Economy  TOPIC

News Bulgaria to focus on increasing energy efficiency
21
Oct
2022

Bulgaria to focus on increasing energy efficiency

by Property Forum
Bulgaria’s Recovery and Resilience Plan (RRP) aims to facilitate economic and social recovery from the COVID-19 crisis and to create a more sustainable, equitable, and successful economy. It includes a set of schemes not only to restore the economy's growth potential but to boost it, too. In achieving this, several construction projects to increase energy efficiency and decrease CO2 impact are to be implemented in 2023-2026, says Anita Dangova at EPI, EECFA’s Bulgarian research institute.
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News ECB raises interest rates for the first time in 11 years
21
Jul
2022

ECB raises interest rates for the first time in 11 years

by Property Forum
Today, the Governing Council of the European Central Bank decided to raise the three key ECB interest rates by 50 basis points and approved the Transmission Protection Instrument (TPI) in an effort to make sure inflation returns to its 2% target over the medium term.
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News EIB presents new funding tool to support rebuilding Ukraine
04
Jul
2022

EIB presents new funding tool to support rebuilding Ukraine

by Property Forum
The Vice-President of the European Investment Bank (EIB) Teresa Czerwińska and the acting Managing Director of EIB Global, Markus Berndt, spoke at the Ukraine Recovery Conference in Lugano and shared the EIB’s views on Ukraine’s recovery. They reaffirmed the EU Bank's steadfast position on the importance and urgency of investing in Ukraine's European future, even as fighting continues across the country. Emphasising its support for the recovery plan presented at the conference, the EIB offered a new instrument, the EU-Ukraine Gateway Trust Fund. This financing instrument could support Ukraine’s early and long-term recovery and the country’s journey towards EU membership.
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News Hungary's central bank acts as housing market overheats
01
Jul
2022

Hungary's central bank acts as housing market overheats

by Property Forum
In recent quarters, the National Bank of Hungary (MNB) has measured substantial and growing overvaluation in the housing market, which has been coupled with an increase in banking sector risks related to lending. These risks have not decreased so far even with the uncertainty related to the war situation of the past months; hence, supporting banks' resilience with regulatory tools is warranted. The Financial Stability Board of the MNB has therefore decided to raise bank capital requirements and will increase the countercyclical capital buffer rate to 0.5% from 1 July 2023, for the first time since its introduction six years ago, Hungarian economic daily Portfolio.hu reports.
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News Bratislava has a new plan for recovering the old town
23
May
2022

Bratislava has a new plan for recovering the old town

by Property Forum
Since the 1970s, the centre of Bratislava's Old Town has been divided by the multi-stream road Staroměstská Street. The City Hall, together with the Bratislava Metropolitan Institute, now has a plan to improve the area. They want to build a park and a large pedestrian plaza above the road to bring the divided city together and add a new residential and recreational space to the city, the Slovak capital's city hall has announced.
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News Obtaining a building permit in Slovakia to become faster
17
May
2022

Obtaining a building permit in Slovakia to become faster

by Property Forum
Newly approved building regulations in Slovakia will significantly reduce the endless waiting for building permits. Thanks to advanced digitalisation, the individual processes and the timeframes for their execution are shortened. Builders will thus be able to calculate the capital invested and the entire work schedule more accurately. Therefore, a new Office for Spatial Planning and Construction is being established as a central state administration body, as well as a specialised construction office for the so-called EIA of construction at the Ministry of the Environment, webnoviny.sk informs.
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News Czech gov't wants digitalisation instead of a central building authority
16
May
2022

Czech gov't wants digitalisation instead of a central building authority

by Property Forum
The Chamber of Deputies of the Czech Republic has decided on a one-year postponement of the effectiveness of part of the Construction Act. Instead of the planned central construction office, which the previous government of Andrej Babiš wanted, they are preparing the digitalisation of the process, the Czech Press Agency reports.
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News Slovakia  approves new laws on construction and spatial planning
29
Apr
2022

Slovakia approves new laws on construction and spatial planning

by Property Forum
New laws on spatial planning and construction will replace the nearly half-century-old 1976 Construction Act in Slovakia. The National Council of the Slovak Republic approved them on Wednesday with a large number of changes compared to the original form, along with a related amendment to the Competence Act, reports webnoviny.sk.
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News Value of construction works expands in Hungary
18
Feb
2022

Value of construction works expands in Hungary

by Property Forum
Last year, the Activity Start indicator of EBI Construction Activity Report reached a total of more than €7 billion (HUF 2,500 billion), an increase of almost 18% against 2020 and of more than 6% against 2019.
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News ECB warns of increased likelihood of correction in real estate markets
18
Nov
2021

ECB warns of increased likelihood of correction in real estate markets

by Property Forum
The European Central Bank has highlighted growing vulnerabilities in housing markets and stretched financial asset valuations in its Financial Stability Review for November 2021. The ECB has also warned of an increased likelihood of a correction in both residential and commercial real estate markets.
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Latest news


New leases

  • Cărturești is set to become an anchor brand in the RIVUS project developed by Iulius, in Cluj-Napoca, where it will house the country's largest bookstore. The company will lease 2,500 sqm of space, spread across two levels.
  • M1 Poznań, managed by EPP, one of the largest family shopping centres in Wielkopolska, has just gained a new, unique tenant, CentrumRowerowe.pl, which is making its debut in Wielkopolska. In the summer, HalfPrice will also join the list of tenants of the centre, offering global brands, including fashion, home furnishings and sports goods at attractive prices. Customers can also already use the assortment of the recently opened Reporter clothing store and the Rainbow travel agency. All new contracts cover over 5,000 sqm of retail space.
  • Three companies from the PZU Group, one of the largest financial institutions in Poland and Central & Eastern Europe, have decided to lease space at Konstruktorska Business Center in Warsaw for another 10 years. The companies have renewed their lease for a total of over 6,500 sqm of modern office space in the building owned by Golden Star Group.

New appointments

  • Elżbieta Majdan is joining the Property & Asset Management team at Savills Poland as an Associate Director. Elżbieta brings 15 years of experience in managing and commercialising retail properties, gained while implementing key projects on the Polish market.
  • Savills Czech Republic announces new hires and promotions within its valuation team. Daniel Duchek has joined as a Senior Valuer, Alena Arnoldová has strengthened the team as a Junior Valuer, and Ivana Horáková has been promoted Valuer. Under the leadership of Marek Pohl, the team now consists of seven consultants specialising in the valuation of a wide range of assets – from commercial, residential, and hospitality properties to leisure, healthcare facilities, and land.
  • Ewa Nowak, a commercial property valuer, has joined the Valuation Department of international real estate advisory firm Newmark Polska as Senior Associate.

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