ARTICLES LABELLED WITH TAG Cushman&Wakefield

Cushman & Wakefield has summarised the situation on the Warsaw office market for the third quarter of 2024. Office take-up, both in leasing volumes and transaction numbers, was comparable to that recorded in the same period in 2023. Meanwhile, muted development activity, falling vacancy rates – particularly in central locations – and shrinking land availability are likely to encourage investors to launch redevelopment projects.

The modern, developer-led warehouse stock in the Czech Republic reached almost 12.2 million sqm in the third quarter of 2024. Approximately 163,500 sqm were delivered to the market within 9 industrial parks across the country. This represents an 11% decrease compared to the same period last year and an increase of 64% quarter-on-quarter, reports Industrial Research Forum in its Industrial Market Figures for Q3 2024.

Despite a slight increase in vacancy, demand for new offices in Prague persists. However, companies still prefer renegotiations. Lease renewals are almost always accompanied by interior modifications leading to more efficient use of space, reports Prague Research Forum in its Office Market Figures for Q3 2024.

Cushman & Wakefield has summarised the situation on the Polish retail market for the third quarter of 2024, which saw a continuation of strong development activity, with new openings dominated by retail parks. The three months leading up to September marked the first quarter in the history of the Polish market in which one retail format accounted for the entire new supply. Retail market sentiment remained robust amid a growing number of brand debuts and strong retail sales, shopping centre footfall and turnover growth.

Marjan Gigov has joined Cushman & Wakefield as an Associate and Specialist for Leasing Premium and Luxury Retail Spaces in the Czech Republic and CE region. In this role, he is going to be primarily responsible for leasing spaces and projects on Prime High Streets.

Kristýna Milovanović has been appointed Associate and the Head of Retail Tenant Representation at Cushman & Wakefield. In this role, she is going to be responsible for providing strategic advice to clients entering the Czech market and expanding their presence.

Cushman & Wakefield has announced Nicolas Horky is joining the company to lead the hotel transactions team in the Central, Eastern and Southeastern European regions. 

Demand for industrial spaces is stabilising across Europe, as indicated by the recent European Logistic Update report from Cushman & Wakefield. In the Czech Republic, the situation is returning to pre-pandemic levels, driven primarily by manufacturing and logistics companies.

Recently, market focus has been on new high-rise office developments which are reshaping Warsaw’s skyline and attracting tenant interest. Analysis of market data reveals, however, that office campuses have enjoyed the strongest occupier demand, says Cushman & Wakefield. Although they make up around 10% of Warsaw’s office stock, they accounted for as much as 16% of total take-up in the city in the first half of 2024. What criteria does an office project have to meet in order to qualify as an office campus and what makes office campuses so popular?

Poland has seen one of the fastest residential rental growth rates in the European Union in the last five years, with rental inflation in major cities rising to double-digit levels. This growth was largely driven by elevated financing costs, inflation and the migration of people to Polish cities. Average rents for a 1-bedroom flat in Warsaw are higher than in Prague, Vienna and Bratislava, but still well below those in London, Zurich or Dublin, says Cushman & Wakefield in its latest report.