In 2021, Cushman & Wakefield Prague established a dedicated Residential Valuation & Advisory capability, in response to the growing demand for specialist services in the Czech residential market. In line with the further development of this service offer, the firm is delighted to announce Erik Müller as Head of the Residential Advisory Services team. Erik brings together a background in the operation of rental residential products, data analysis and residential appraisal, Cushman & Wakefield announced.  

In their global real estate outlook for 2023, the Savills World Research team says that capital value increases in most real estate sectors around the world in 2023 will be minimal, and rental growth prospects limited, but investment activity may rebound in H2 2023.

Increase in flexible working patterns brought on by the Covid pandemic has had a positive influence on our ability to juggle these two competing pulls on our time and focus, says Clare Sheils, Managing Director of CBRE in the Czech Republic. She talked to Property Forum about market expectations, the ongoing energy crisis and being a woman in top management in real estate.

A stagnating market, stable prices of quality properties and further inflation of the rental housing bubble. These are the key trends of the Prague residential market at the end of last year, according to an analysis by Svoboda & Williams.

Another new residential building, Oliva, built by Passerinvest in Prague Brumlovka, was approved in December. The first residents will start moving into the 72 flats in the first quarter of this year, the developer announced. 

The commercial real estate investment market in the Czech Republic is stagnating. Analysts see the year 2023 as a challenging year. However, the market was dominated by domestic capital last year and there is still a mismatch in the expectations of buyers and sellers, according to a Knight Frank report.

Zeitgeist Asset Management has signed a lease agreement for 2,600 sqm of premium space in Prague's Dunaj Palace with the Czech Representation of the European Commission and the European Parliament Liaison Office. It will include a visitor center for the public. Approval of the reconstructed palace should be in 10 months. The lease agreement is signed for 15 years, Zeitgeist announced.

All apartments in the AFIHome Třebešín rental project in Prague 3 are now fully leased. All tenants of 61 apartments have also moved in, AFI Europe has announced. 

AFI Europe has completed its third rental housing project in Prague this year. AFIHome Kolbenova, the first apartment building in the new multifunctional district AFI City in Prague 9, has now been approved.

Some developers forecast that sales prices will increase in the future purely as a result of the zero-emission requirements currently being placed on buildings but there is no consensus as to what the ultimate effect will be. Robert David, Partner and Tomáš Kren, Senior Associate at Wolf Theiss’ Prague office talked to Property Forum about the increasingly important role ESG compliance plays in real estate transactions and potential regulatory changes that can affect the market.