Romania recorded commercial real estate transactions worth around €730 million in the past year, up by 47% compared to 2023, according to a report by iO Partners. 

iO Partners has announced its expansion into Austria through a partnership with Optin, a real estate consultancy specialising in commercial, residential and investments.

The land market in Bucharest and other regional cities is seeing increasing demand from developers of data centers that want to accommodate growing investments in the country’s IT&C industry, according to a report by iO Partners.

Wing has announced the sale of the Honvéd Center office buildings in the Central Business District of Budapest to Greve Honvéd Kft, a subsidiary of Hamburg-based Greve Group, for an undisclosed amount.

Romania’s property investment market reached close to €655 million in the first nine months of 2024, up by 169% compared to the same period of last year, according to an iO Partners report.

Romania remains one of the most affordable countries in the EU for office fit-outs, with costs significantly lower than in Poland, the Czech Republic, or Western countries, according to research by iO Partners. 

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.

iO Partners, a JLL Preferred Partner, has teamed up with Bright Spaces proptech to provide its clients with a 3D space planning tool. 

Over H1 2024, the office stock in the CEE region grew by 213,000 sqm, with the largest increase recorded in Budapest (78,300 sqm). The majority of the markets still experience subdued construction activity as vacancy rates remain higher than 10%. The development pipeline is largely dependent on pre-lease agreements, with a limited number of speculative starts. The only exception is Prague, where the under-construction volumes nearly doubled as compared to the end of 2023. The overall vacancy rate in the CEE capitals recorded a minimal increase over H1 2024 and stood at 11.6%, against 11.5% in Q4 2023. Muted construction activity will push the overall vacancy rate downwards in the mid-term. A decrease in availability will be more prominent in the prime market segment as occupiers follow „fly to quality” trend. JLL experts, in cooperation with iO Partners, present an analysis of the trends observed in the office market in Poland against the background of countries in the CEE region.