Slight growth in logistics and retail space rents, despite no new mall expansion or openings being planned. These are the trends for the beginning of 2023, according to the latest report from Cushman & Wakefield Forton.

Cushman & Wakefield has summarized the first quarter of 2023 and trends shaping the Polish office market. While development activity in the core office locations continues to slow, occupier demand appears to be recovering, particularly in regional cities. Prime office rents in central locations are, however, on an upward trajectory.

Cushman & Wakefield has summarized the first quarter of 2023 and trends shaping the Warsaw office market, which came third among key European office locations for take-up. The Polish capital is entering a phase of renewing leases made in the peak years of 2018-2019. Another positive development is the prospect of several new construction starts in the city’s central zones. According to Cushman & Wakefield, new projects will experience the strongest upward pressure on rents.

Sofia's office market is moving at two speeds, with projects in the prime segment performing distinctly better than the rest of the market. These are the main insights of the latest report by Cushman & Wakefield Forton. The hybrid model of work is permanently imposed and breaks the link between business growth and hiring new space, especially in the segment of IT and BPO companies

JLL Poland has been selected as the exclusive agent in charge of the commercialization process of the LIFE Building office building - formerly Atrium Tower, which belongs to the Vig Fund, a group company of Vienna Insurance Group AG Wiener Versicherung Gruppe.

According to the latest report from Cushman & Wakefield, the Polish retail market got off to a flying start in 2023, with over 100,000 sqm of new retail space coming on stream in the first quarter of the year and a number of new openings expected to deliver a total of 300,000 sqm. The biggest single challenge facing both retail tenants and landlords is high inflation which has resulted in falling sales for some shopping categories.

2022 saw an almost complete recovery of Croatia’s tourism industry with only 2% fewer overnight stays than in 2019. Hotels were almost at full capacity (98% open). In the summer season, hotels achieved 5% higher revenues than in 2019, primarily through an increase in occupancy of 25% (to 79%) compared to the 2021 season, which means a 9% gap compared to the occupancy of 2019, CBS International, part of Cushman & Wakefield Group reports..

In the CEE region, Prague placed second in terms of the price of fitting out an office. With €1,159 being the average cost per square metre in Prague, it is just over half of what is standard in top cities in Germany or the UK, where costs often exceed €2,000. Compared with the last year, the prices have grown all over Europe due to inflation and other factors. The 10% increase in Prague means that office occupiers need to carefully consider their office usage and space needs when redesigning their offices. Sustainability and DE&I are also increasingly affecting fit-out requirements, reports Cushman & Wakefield in their latest analysis.

The first building of the Nowa Strzegomska complex in Wrocław has received the BREEAM certificate with an Excellent rating. The redevelopment of Wrocław Business Park in Strzegomska Street will see the existing buildings replaced by five class A office buildings with an area of 10,000-15,000 sqm each. Cushman & Wakefield is the leasing agent for Nowa Strzegomska.

More than three-quarters (76%) of Europe’s office buildings are at risk of obsolescence by the end of this decade unless landlords invest in improvements or find alternative uses for it. This is the warning from Cushman & Wakefield in its latest report.