Slovak developer Cresco is entering the Czech real estate scene with a CZK 1 billion project for a 500-apartment apartment building in Prague's Holešovice, the company announced on the project's website. And it says it already has other plans for further expansion in the Czech Republic.

Romanian developer Forty Management has completely sold all the apartments and leased all spaces in the Central District 4 Elements project that was completed last year following an investment of €25 million.

Ozan Tuncer has been appointed as the new CEO of Cosmopolis, Opus Land Development's residential compound located near Bucharest. He is replacing Ahmet Buyukhanl, who remains the main shareholder of the company. 

Property group Immofinanz has presented its new residential brand On Top Living during MIPIM, the biggest real estate fair held in Cannes. The company plans to develop up to 12,000 smart and sustainable apartments at affordable prices in the medium term. 

JRD Development, a member of the JRD Group, has completed the construction of the energy-efficient Rezidence Michelangelova project in Prague 10. The architecturally distinctive building with 29 apartments is complemented by two commercial spaces and a small park with a playground and gazebo. The project, in which the developer tested a new type of air duct to increase acoustic comfort, is completely sold out, JRD Development announced.

Realized prices of flats in Slovakia rose by more than 10 % in Q4 2021. Prices of sales recorded in the cadastre of the real estate continued to grow dynamically at the end of 2021, dwellings were sold more expensive by more than 10 % year-on-year, and prices rose by 3.6 % compared to the summer months, the Statistical Office of the Slovak Republic announced.

The average asking price for apartments in Romania gained 0.8% in February to €1,609 per sqm compared to the same period of last year. Over the past 12 months, the average increase of prices stood at 18.5%, according to property classifieds platform Imobiliare.ro. 

Duna House has released its monthly transaction estimate, showing that there were 13,793 residential property transactions in Hungary in February 2022. While this is 5 percent lower than in February 2021, it is 5 percent higher than the results of the same month in 2020.

The new residential project Rezidence Radimova Břevnov will start construction in April in Prague 6, a few minutes from Prague Castle. The developer Geosan Development has now received a building permit and plans to start construction within a month. The residence should be completed within two years, the developer announced today.  

The City of Prague intends to provide rental apartments for firefighters, teachers, police officers and other necessary professionals in the next ten years with massive construction of public housing.  Last year, the city established the Prague Development Company (PDS), which is to prepare construction on city plots, the municipality announced.