ARTICLES LABELLED WITH TAG report

The availability of housing in Prague has slightly improved this year, but it is still incomparably worse than in the surrounding metropolises. The inhabitants of Prague have to work 13.9 years for an average 70 sqm apartment. In Vienna, for example, such a purchase only cost 8.7 annual salaries. Compared to last year, a slight improvement was registered in 2020, but the effect of the coronavirus crisis has not yet been reflected in wage statistics, according to Czech residential developer Central Group.

According to full-year economic outlooks, the Polish economy will contract by 3-3.5% in 2020 compared to the previous year. Nevertheless, Poland’s GDP is expected to return to growth in 2021 and expand by approximately 4% in 2020, reveals the latest report from global real estate services firm Cushman & Wakefield.

The great majority of shopping centres in the Czech Republic should reopen on Thursday 3 December. The footfall and revenue figures show that customers have not given up on visiting shopping centres in the long-term perspective or changed their shopping habits dramatically. Following the reopening after the first wave of the corona crisis, both performance indicators grew again, and revenue even exceeded last year’s figures in a year-on-year comparison. The impact on footfall and turnover was lower in the second wave, with footfall slightly growing in recent weeks. Considering that Christmas is coming, we can expect customers to return to shopping centres quickly as soon as they are allowed to, resulting in an exceptional increase in footfall and revenue.

CPI Property Group’s property portfolio increased by 8% to €9.9 billion compared to the end of 2019, primarily due to the acquisition of six office properties in Warsaw, Poland and a 29.4% stake in Globalworth Real Estate Investments Limited. CPIPG published unaudited financial results for the third quarter of 2020.

Companies today are facing complex performance challenges as the COVID-19 resurgence heightens the need to reinvigorate employee engagement. JLL’s new “Human Experience” report explores these changing workforce dynamics and expectations in a post-pandemic world and offers insights for how forward-thinking companies can reimagine their approach to managing their people and workplaces to stay ahead in 2021.

The geopolitical diversity of the EMEA region means that there are multiple economic and business permutations to consider in light of a new first term for President Biden and the Democratic party. There is a strong likelihood that the EU and national EEA (European Economic Area) governments will cooperate more openly with the United States under President Biden. Outside of the EEA, in Middle East, Africa, Russia and Turkey ongoing relationships will be more mixed.

Central business district (CBD) offices, supermarkets and food-anchored retail parks, as well as logistics assets in key locations across Europe, will present attractive investment opportunities in 2021 as investors regain confidence following the COVID-19 crisis, according to Savills Investment Management (Savills IM).

Operational residential investment (which comprises multifamily, student housing and senior living assets) accounted for 27% of global real estate investment in the first three quarters of 2020, up from just 16% a decade ago, according to the Savills Global Living Report 2020.

The third quarter of the year brought Echo Investment €8 million (PLN 36 million) in net profit, which is the result of handing over 301 apartments to clients, the value increase of office buildings under construction, as well as the apartment rental platform – Resi4Rent. The developer increases its focus on the residential sector – both for sale and for rent – which today accounts for about a quarter of the company's assets. Echo Investment intends to carry out most of its projects as part of multi-functional projects, called "destinations".

For another quarter in a row, CA Immo has posted a strong operating result and a clearly positive consolidated net income. The organic growth of the portfolio through own project completions and the continuing high occupancy rate of the investment portfolio (95%) resulted in a further strong increase in net result from rent (+10.5% on the previous year). Despite a positive valuation contribution in the 3rd quarter, the negative revaluation result – as a result of the pandemic and its various effects – continues to have a negative impact on consolidated net income. With the addition of a total of three office buildings in Berlin and Munich (including two own project completions and one portfolio acquisition) and the purchase of an office building in Warsaw, CA Immo continued its portfolio growth in 2020.