Romania’s retail market could top 4.5 million sqm this year considering that around 185,000 sqm of new retail projects are under various construction and planning stages, according to CBRE data.

Office leasing in Bucharest reached 97,400 sqm in Q1 2024, up 71% compared to the same period of last year, while take-up transactions that cover relocations and new demand were flat year-on-year at 33,000 sqm, according to a CBRE report.

Industrial developer WDP has purchased wholesale retail park Expo Market Doraly from ARA Europe and Romanian investor Gheorghe Iaciu for an undisclosed sum.

Yusen Logistics, a global logistics provider, has leased 19,000 sqm in CTPark Bucharest, owned by CTP, for the next five years, in a deal brokered by CBRE.

Prague is the second most active European market for flexible offices after London. Metropolises such as Warsaw, Amsterdam and Madrid follow at a distance, CBRE reports.

Industrial demand has shifted from logistics service providers to manufacturing companies. CBRE is reporting a year-on-year increase of 22 percentage points to a 53% share of total demand in the Czech Republic.

The modern developer-led warehouse stock in the Czech Republic has reached 11.70 million sqm. The Industrial Research Forum has announced industrial market figures for Q4 2023.

The Prague Research Forum – CBRE, Colliers, Cushman & Wakefield, iO Partners, Knight Frank and Savills – has shared an updated Prague office market insight. Figures and data for Q4 2023 have confirmed a cautious approach both from developers and tenants.

CPI Property Group has appointed CBRE as manager of its Stop Shop retail park portfolio in Serbia, which comprises 14 retail parks in 14 cities and more than 120,000 sqm of leasable area. CBRE will provide integrated asset management solutions, including financial and property accounting services, leasing services, and will oversee all operational aspects of the property and tenants.

It is anticipated that the market will experience the transition from being perceived as a problem to an opportunity for many investors and funds in 2024. CBRE summarised this year's developments in the Czech commercial real estate market and provided an outlook for 2024.