Bulgaria, with its growing economy and increasing consumer spending, has witnessed a recent surge in the construction of retail parks across the country. A total of 13 projects are under active construction and another 9 are at different stages of planning. The outlook for the retail park market in Bulgaria over the next year is positive, according to the latest report by Colliers.

Although anti-pandemic measures were still lingering on the Czech retail market at the beginning of last year, an early return to normal was expected. However, the war in Ukraine has fundamentally influenced further economic development, especially in the countries of Central Europe, including the Czech Republic. The rapid rise in prices (inflation increased by 15.1% year-on-year) and energy expenses were met by a further decline in already weakened customer confidence. How did this affect shopping centres in the Czech Republic? And what is the current sentiment on the market not only among customers but also the retailers themselves? CBRE tried to answer these questions in its annual Shopping Centre Index analysis, which is complemented by two current surveys focused on the development of customer behaviour and expectations on the part of retailers.

Colliers released its third annual Impact Report, highlighting progress towards realizing a more sustainable and equitable future for all. This report includes information on how Colliers is delivering resilient buildings, inclusive workplaces, and spaces that promote health and well-being.

Modern office buildings are an important part of ESG strategies for many companies. However, the real estate market in the Czech Republic is not yet fully prepared for the new ESG-related requirements. Even construction projects planned over the next few years will not resolve this issue, since meeting strict standards and certification requirements is both procedurally and financially demanding, Colliers reports.

The opening panel of European ESG Property Forum 2023, which took place last week in Warsaw, has shown that the best stimulator to implement ESG strategies in the property market are always the financial and legal regulations.

Slight growth in logistics and retail space rents, despite no new mall expansion or openings being planned. These are the trends for the beginning of 2023, according to the latest report from Cushman & Wakefield Forton.

Immofinanz Group recorded strong growth in both rental income and operating results for the first quarter of 2023, which was supported primarily by the full consolidation of S Immo and by property acquisitions. Rental income rose by roughly 83% to €128.4 million. The results of operations and sustainable FFO 1 from the standing investment business more than doubled to €82.5 million and €72.5 million, respectively.

GTC’s adjusted EBITDA was €24 million in Q1 2023 (€26 million in Q1 2022), while net profit amounted to €12 million in Q1 2023 (€15 million in Q1 2022). The decrease mainly resulted from lower gross margin from operations and loss from revaluation, partially offset by lower finance costs and foreign exchange gain.

The investment volume in the first quarter of 2023 fully reflects the clear investor reluctance at the end of last year. According to a recent Arnold Investments market analysis, a real estate transaction volume of around €27 billion was recorded in the European Union. Compared to the same quarter in 2022, this is a decline of 60%.

In Q1 2023, the Czech industrial real estate market hit record numbers and passed the 11 million sqm mark. The five-year average has broken when the total volume of newly completed industrial grew to 217,900 sqm, according to Colliers’ quarterly survey.