ARTICLES LABELLED WITH TAG report

The key obstacles in the way of technological advancement in the property business are the lack of collaboration and transparency. Property Forum visited the International Property Technology Summit in Moscow, Russia.

The hotel capacity in Bucharest is seen rising by at least 10% in the next three years, considering the hotel projects planned or under construction, with new hotels to be developed in most big cities in Romania too, as the local market saw the seventh consecutive year of growth in 2017, C&W Echinox reports.

Office take-up in 2017 hit a record high of 674,800 sqm in Poland’s regional office markets, up by more than 16% on 2016’s level. The strongest leasing activity was recorded in Kraków, Wrocław and Tricity. Cushman & Wakefield has published its MarketBeat report.

The year 2017 saw the greatest amount of industrial space built in Europe in its history – more than 3.7 million sqm. This represents a 68% increase over 2016 and a 55% increase over the existing record dating back to 2007 (an additional 1.2 million sqm). The total industrial space in the region has increased by 17% as a result. Such are the results of a survey conducted by Cushman & Wakefield, a company that has been monitoring the industrial property market in the Czech Republic, Slovakia, Poland, Hungary and Romania on a long-term basis.

According to data by JLL, the volume of office investment transactions concluded in Poland for 2017 was approx. €1.6 billion. A record-breaking €970 million of office investment deals was reported in major cities outside of Warsaw.

Although offices still comprise the majority of certified green buildings in Hungary, other types of properties are increasingly being certified, according to Colliers International’s latest green building market report.

Available space on the industrial property market in the Czech Republic decreased and it makes the situation for occupiers in seek of premises more complicated. Potential tenants have to put up with longer terms of project realization in new warehouse spaces. The Czech industrial property market has changed from a market of tenants to a landlords market, JLL reports.

Warsaw’s central office district went through a transformation process in recent years following the delivery of a number of modern office developments such as Q22 or Warsaw Spire, which have already been acclaimed as unique and landmark schemes. However, in addition to modern buildings and futuristic skyscrapers, this area is also home to second-generation offices developed before 2000 and historical buildings which form an integral part of the capital city’s centre. Michał Wachowicz, Consultant, Capital Markets at Cushman & Wakefield analysed Warsaw’s CBD.

With GDP growth outperforming by a significant extent neighbouring CEE countries, 2017 was very good for the real estate market in Romania, especially for office, investment and land segments. According to Colliers International’s new report, the market’s dynamism will be extended through 2018, supported by new demand and trends in the capital and especially in the major regional cities in the country.

The level of confidence in Central and Eastern European markets seems to have peaked according to the RICS Commercial Property Monitor. Expectations are still highly positive, but sentiment indices have topped out in the previous two quarters. Results for Q4 2017 demonstrate that both occupier and investment demand is still strong but the share of those who believe that some markets are close to peaking is growing steadily.