The Prague 3 City Council has approved two contracts with developers Penta and Finep to build on one of Prague's largest brownfield sites at the former Žižkov railway station. This may lead to a change in the zoning plan, which the developers have been waiting for. On the other hand, the city and the district itself will receive CZK 267 million (almost €11 million) in so-called contribs, which will go towards building public parks, reconstructing schools and building a new kindergarten, writes e15.cz.

Few multi-unit residential construction works started in Hungary, a little above HUF 50 billion, mainly a few larger projects. And although Q2 brought a rise in Activity-Start, the value of the indicator was far below the quarterly numbers of 2017-2019 and 2021-2022, according to the latest EBI Construction Activity Report.

PSN has launched a new project, Ahoj Vanguard, in Československého exilu Street, near the former Microna factory, which is currently being converted into Vanguard Prague industrial housing with 150 lofts. They will be connected not only by an underground tunnel but also by a common background with a spa and wellness area with a swimming pool. The new construction of Ahoj Vanguard with 94 apartments is characterised by colours and a large amount of greenery. The new PSN project is scheduled for completion at the end of 2024.

Based on the data from the Central Statistical Office of Hungary's (KSH) 2022 census, it seems that an A/C revolution is taking place in the Hungarian residential property market. The figures suggest that there will soon be areas where air cooling will be as much a part of the expected comfort of homes and rental properties as flush toilets and hot water. According to an expert at OTP Real Estate Point, this process was triggered by a particular confluence of circumstances at the beginning of the decade.

Primavera Development has started the construction of a new complex of villas in northern Bucharest, with an estimated investment of around €30 million. 

With the new academic year approaching, thousands of students are stepping up their search for accommodation. Meanwhile, Cushman & Wakefield has identified that, given the current bed provision in Poland, just 10% of all students can be accommodated in university-owned and private halls of residence. Those considering looking for privately rented accommodation will, however, face many challenges. According to Otodom, the availability of rental residential units in many key university towns is shrinking while rents continue to rise, with rental growth at the end of July 2023 averaging 1.5% month-on-month (m/m) and 8.5% year-on-year (y/y).

Romanian developer Impact Developer & Contractor will launch in the next period in Bucharest a new residential complex comprising over 850 premium apartments with a market value of around €350 million. 

Speedwell obtained the BREEAM Excellent Certification for the first building in The Ivy residential complex under development in northern Bucharest.

The volume of new mortgage loans in Romania rose by 10.2% to 2.5 billion lei (€506 million) in H1 2023 compared to the same period of last year, of which refinancing operations had a 25% share, according to a report by SVN Romania | Credit & Financial Solutions. 

The new residential project Semerínka, backed by the developer Crestyl, has received a building permit and construction will begin during the autumn. The Semerínka project in Prague's Radlice district, consisting of four blocks of varying heights, will offer 185 apartments.