BPO/SSC take-up totalled over 60% of all-sector office take-up in 4 key BPO cities (Wroclaw, Lodz, Krakow and Sofia) in H1 2017. Vacant stock is diminishing, due to this demand impulse and strong general economic conditions. Labour availability and employee tech knowhow uplift are significant factors which influence the demand for space, according to a report by Colliers International. The key findings of the report include:

The outlook for Central and Eastern European markets is still positive according to the RICS Commercial Property Monitor. Results for Q3 2017 show that both occupier and investment demand are still on the rise across the region. The peak of the current cycle is, however, undoubtedly getting closer.

Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, while New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay retain their first and second place rankings, according to Cushman & Wakefield. Prague’s Na Příkopě Street has improved its position from last year’s 23rd to the current 22nd in a chart of the 68 most expensive high streets.

Robust GDP growth, wage rises and price inflation are the drivers of retail sales across the CEE region, says Colliers International in its latest research report. Key findings of the report include:

Globalworth Real Estate has announced that is seeking to raise about €300 million in a share issue to help fund its expansion in the CEE region.

GTC currently has 6 projects under construction with over 145,000 sqm GLA. The company also has 6 projects in the planning stage with over 143, 000 sqm of office space and 61,000 sqm of retail space, in addition to 2 extensions of existing projects for 5,100 sqm. GTC presented its Q3 2017 financial results.

Patrizia Immobilien AG has acquired Triuva Kapitalverwaltungsgesellschaft mbH, significantly expanding its business in Germany and Europe. Both parties agreed to not disclose the purchase price.

Investment flows into the CEE-6 region’s commercial real estate markets rose 12% y-o-y in the first nine months of 2017. The €7.6 billion closed deal total coupled with a still full pipeline of deals under consideration suggests that the annual cycle high of €12.2 billion invested last year is likely to be matched or overhauled. Substantial growth in Czech and Bulgarian volumes were the drivers of the momentum in the January-September 2017 period, says Colliers International in its latest report.

The office markets of Central European capitals are growing dynamically with the number of new leases on the rise and vacancy rates hitting record lows in several cities. In light of all this it is no surprise that development activity is also heating up on the most popular markets of the region.

Orbis is launching Aparthotels Adagio - a new aparthotel brand on the Eastern European market. Enlarging the brand portfolio by adding Aparthotels Adagio, Orbis Group is diversifying its network development and enters the city-centre apartment market as a development acceleration lever.