ARTICLES LABELLED WITH TAG Czech Republic

CPI Property Group has completed the sale of a few assets across Europe to third parties.

CTP has signed a lease agreement with Heimstaden, the provider of rental housing in the Czech Republic, for almost 3,500 sqm of office space at IQ Ostrava. 

The S3 hall in P3 Ostrava Central has been leased to retailer Bezvapostele.cz. The company is planning to operate a sales warehouse in the building from August 2024.

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.

Higher borrowing costs and the price gap between buyers' and sellers' expectations are some of the reasons why transaction volumes are significantly below the 10-year average level of ca. €10 billion. This is according to a commercial real estate investment volumes survey by Colliers presented at a February meeting of Czech and Slovak investors and other financial experts.

Although office leasing opportunities are already very limited in Prague, the good news is that Colliers' survey has reported rather stable rental prices throughout the last year.

Rezidence Klíčov, a SHD Real Estate residential project, is moving into the construction phase. At the same time, the developer is opening sales for this residential community in Vysočany, Prague 9.

The Dornych project of Crestyl Group replacing the old shopping centre in the neighbourhood of the Brno Central Station has received a building permit.

The Vyšehrad Railway Station located in a UNESCO protection zone in Prague has been in disrepair for many years, even in danger of complete collapse. The new owner is now introducing plans on how to revitalize it.

For a time, the Prague hotel market has lagged behind other European cities in terms of recovery from the impacts of the COVID-19 pandemic. Its latest performance indicators are showing a significant increase in 2023, Cushman & Wakefield reports.