In the first half of 2018, the total volume of modern office space at the main regional markets (Kraków, Wrocław, Tricity, Katowice, Poznań, Łódź, Szczecin and Lublin) exceeded 4,637,000 sqm. Analysts of Cushman & Wakefield report a high absorption level caused by intensified lessee activity in 2017 and pre-rental agreements of office real estate which is to enter the market this year. As a result, despite a large spike in office space supply, the vacancy rate has gone down.

Alicja Zajler joined Colliers International as Director in the Valuation and Advisory Department. Together with Ewa Czarnecka, Senior Partner and Director, Alicja will manage the department and set the course for its development.

According to Colliers International’s EMEA Industrial & Logistics Hubs report, demand for industrial and warehouse property rose in 50% of EMEA markets in 1H 2018, up from 35% in 2H 2017, driven by strong occupier sentiment, and despite challenges in the overall economy such as protectionism fears and trade tensions between the US and close trading partners in the EU.

About 10 years ago, Lehman Brothers’ bankruptcy would mark the peak of the global financial crisis and would be followed by a deep recession in several parts of the world, including Romania. However, Romania has come a long way in the last decade, with the economy seeing some radical transformations, as well as in real estate; the real estate consultancy company Colliers International Romania sees the next 10 years offering an attractive risk/reward profile.

The first half of 2018 on the Polish shopping centres market belonged to the biggest agglomerations. Over 172,000 sqm of new space was delivered, which constitutes about 75% of domestic supply. At the same time, the demand for retail space was still very high and the level of vacant buildings remained very low.

Jana Vlková has recently been promoted to the position of Director of Business Development at Colliers International in Prague. Jana will focus on identifying and securing all types of business opportunities that Colliers Czech can offer to its clients. These services, to mention a few, will include and cover supporting Office Agency, Workplace Consultancy, Project Management and Design and Fit Out works services. Jana will continue to work with her existing and future clients by providing turnkey solutions and services at the highest professional level.

A strong increase in new supply is expected in the upcoming two years, however, most submarkets of the Budapest office market will still face rental growth in 2018. Sustained rental growth for Class A properties across all submarkets - except the Periphery - is forecasted. Rental growth on the Class B market is expected to be more moderate, driven both by Hungarian firms entering the institutional market and multinational firms seeking lower cost office options, according to Colliers International's latest, mid-year office market report.

New research from Colliers International and Hotelschool The Hague reveals that despite many countries recently introducing legislation to restrict the use of Airbnb, the hospitality service continues to grow in five main European cities – London, Amsterdam, Berlin, Madrid and Paris.

Bucharest’s Floreasca/Barbu Vacarescu area is the most valuable fusion between retail and office spaces. According to Colliers International Romania, for every 1,000 sqm of offices, there is 35-40 sqm of retail space. In total, in the Floreasca/Barbu Vacarescu area, there is about 10,000 sqm of such spaces at the ground floor of the office buildings, with the rents generated by these holding a share of 4-5% of the total cashed in by landlords.

With the growth of the Bucharest office market to 2.3 million sqm, office buildings become more and more important in the recruitment and retention of employees. The new wave of employees is more demanding in terms of office life concepts and expects a building to offer, besides a modern working space, a community to belong to. According Colliers International Romania, in the coming years, property management services will influence the level of employee satisfaction.