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The Bulgarian commercial property market in 2023 will maintain activity around last year's levels. Main buyers are again expected to be local investors with sufficient funds or being able to obtain favourable credit terms. This is what Cushman & Wakefield Forton is forecasting for the period. C&W Forton estimates the total volume of commercial property transactions in 2022 to be just over €270 million. Transactions with traditional market assets – office and retail space – are predominant, while there is also a stir in the industrial property segment

The Polish warehousing market in 2022 remained in good condition. By the end of December 2022, more than 4.4 million sqm (+42% y/y) of new space was completed, corresponding with strong activity by tenants, who leased nearly 6.7 million sqm (-9 y/y). Another 3.4 million sqm is under construction (-25% y/y), which promises to surpass the 30 million sqm mark in 2023. The high absorption rate did not significantly affect the increase in the vacancy rate, keeping it at 4.1% (+0.2 bps y/y). The event of the year was undoubtedly the rising rental rates, which increased on average by 15-20% compared to previous years, according to Axi Immo's recent report.

Real estate consultancy Cordon has published its monthly reports based on 500 ads for apartments that were available for lease for Belgrade in February of 2023.

The relocation process of manufacturing and business operations to Bulgaria following the geopolitical pressure gives the country a decent chance of attracting foreign investments. Despite the prediction of a recession in 2023, the expectations are for opportunities in some sectors and for investors to focus on high–quality and sustainable product. The trend is outlined by Colliers in their latest country report.

Property Forum is excited to announce that the 2023 edition of “The 50 most influential people on Romania’s real estate market” will be published on May 4th during our Spring Networking Party in Bucharest, on the day of our first-ever Romania ESG Forum.

Demand for office space in Brno is changing, companies are more reserved towards commitments due to higher costs. New construction will bring additional metres to the market, which, together with the tenants’ behaviour, will gradually decrease its absorption. Vacant meters will be filled gradually and slowly, which could be fuelled by the arrival of more international companies, says Cushman & Wakefield´s analysis.

The Bulgarian housing market entered 2023 with a fragile balance between demand and supply. The market is calming down, after a hyperactive 2022, according to the stats, showcased by Address Real Estate in their annual analyses.

Romania has one of the lowest volumes of housing loans as a share of GDP, being for instance six times lower than Poland in absolute terms, according to a study published by Romanian developer STC Partners. 

Continuously rising housing prices across Croatia, additionally amplified by the country’s recent entry into Eurozone and the Schengen area, have provoked discussions about affordable housing and models that can be applied in Croatia, based on the experience of other countries in the CEE region. Erste Group Bank, one of the leading financial institutions in CEE, became a potential forerunner in setting up an affordable housing concept in Croatia, however, the project is yet to commence and still strongly depends on cooperation with local governments, which are often lacking flexibility or avoiding a tighter and highly publicized joint ventures with the private sector.

Romanian property holding Meta Estate Trust says it recorded a gross profit of 7.2 million lei (€1.5 million) during 2022, which was the first full financial year since the launch of the company. Its total revenues amounted to 21.7 million (€4.4 million), while the assets reached 98.6 million lei (€20 million).