The Prague City Council has approved the investment preparation of the Beranka residential project in Prague Horní Počernice. The construction of 300 flats on an area of 63,000 sqm is being prepared under the management of the Prague Development Company (PDS). Architectural competition and tenders are being prepared. PDS plans to build between 2025 and 2030.

Although not long ago the PRS market seemed to be the obvious choice, thanks to the sudden improvement in economic conditions and the optimism of buyers, the construction of apartments for sale in Poland is today a more profitable solution - this is the main conclusion of a panel discussion at Living Investment Forum 2023, an event organized by Property Forum in Warsaw in May.

Cavatina Group S.A. has established a company that will be responsible for the construction and management of a portfolio of PRS projects located in the largest cities of Poland. Alongside Cavare S.A., the group includes Cavatina Holding S.A., a publicly traded company and one of the largest office developers in Poland, Resi Capital S.A., focusing on the residential sector, and CTank S.A., the entity responsible for land acquisition and comprehensive project preparation for the Group and external investors.

After several months of declining the number of residential property transactions concluded in Hungary has risen in May. Mortgage lending also showed signs of recovery, brokerage firm Duna House reports. 

Bratislava-based investor-developer Synapsis Property Ventures is preparing a set of 37 family houses, with the aim of creating community family housing, near the Slovak capital’s Knižkova dolina area. Each house will have approximately 140 sqm of net usable area. The estimated investment of the project is €20 million.

STC Partners has reached a 50% sale rate for the first phase of its residential project Quartier Azuga, which is under development in Bucharest. 

Student Depot plans to complete two new investments in Warsaw and Łódź in the autumn. Both student residences will open at the beginning of the academic year 2023/2024, thereby increasing Student Depot's portfolio by nearly a thousand beds. The new residents will find fully furnished rooms, coworking areas, multimedia rooms, as well as fitness zones.

The bull run in the European residential sector that was fueled by low interest rates in the past decade has been coming under strong pressure from ECB rate hikes, with valuations stagnating due to the wide gap in expectations between most buyers and sellers, according to research by property fund Catella. 

Belgian developer Speedwell has obtained the construction permit for the third building of The Ivy, the premium residential complex located in the Băneasa neighborhood, in Bucharest. The building is part of the second phase of development and represents an investment of €22 million, out of the €160 million value of the entire project.

The Lastavice development project in Belgrade, Serbia, has just completed its rough construction. The first building of the project, which will offer almost 500 flats and require an investment of more than CZK 2 billion (€84 million), will be completed by the Czech developer UDI Group in spring 2024, while the construction of the second of the project's two buildings will begin at that time.