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News CEE investment volume surges in H1 2022
02
Sep
2022

CEE investment volume surges in H1 2022

by Property Forum
What to invest in during times of uncertainty, war, rampant inflation and soaring interest rates? Avison Young presented its CEE commercial real estate investment market overview after the first half of 2022.
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News Hungary's residential market picks up again in August
02
Sep
2022

Hungary's residential market picks up again in August

by Property Forum
Duna House has released its monthly Transaction Estimate, showing that there were 9,748 residential property transactions in Hungary in August 2022. This marks an increase over July but a 14% drop compared to the number of transactions recorded last August.
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News VGP announces robust growth for H1 2022
31
Aug
2022

VGP announces robust growth for H1 2022

by Property Forum
The net profit of logistics developer VGP was €153.1 million for the first six months of 2022. The first half of the year came up with €35.4 million worth of signed and renewed lease agreements, which annualised means €281.1 million of the total rental income and another €88.1 million of the annual rent is expected from 40 projects with 1,346,000 sqm under construction that are almost totally pre-let (87.4%). VGP published the results at the end of August.
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News Prague is an outlier in warehouse costs and rents
30
Aug
2022

Prague is an outlier in warehouse costs and rents

by Property Forum
Warehouse costs increased on average by 8.4% globally and by 6.7% in Europe, with Prague being an outlier, recording an increase of 35.8% in a year due to exceptionally low vacancy. The nationwide vacancy rate fell back to 1.4% in Q2 2022 and this is the lowest level in the market´s history, says Savills in its latest report.
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News Investors feel safe again in Poland
30
Aug
2022

Investors feel safe again in Poland

by Property Forum
The total volume of investment transactions in H1 2022 amounted to almost €2.9 billion, which was more than 40% more than in the same period last year. The high value of investments demonstrates investors' continued strong interest in Polish investment products in all major categories, despite the new geopolitical situation and the war in Ukraine. AXI IMMO experts analyze the situation of individual sectors in the investment market in the first half of 2022 in Poland.
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News How’s Kyiv’s office market doing during the war?
29
Aug
2022

How’s Kyiv’s office market doing during the war?

by Property Forum
As of summer 2022, leasing activity in the Kyiv office market was near a standstill and primarily driven by office optimization, as well as lease renewals and renegotiations of existing leases, according to the latest research of CBRE Ukraine. Whereas, as of the beginning of June, we observed a slight recovery in the level of office occupancy by employees who continued to work or who returned to Kyiv. Thus, typical office attendance among corporate occupiers was ca. 10% with many tenants in IT, high tech & telecommunications, healthcare and pharmaceuticals, agriculture, FMCG and industrial sectors planning to increase occupancy to 15%.
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News Polish warehouse market hits new record
26
Aug
2022

Polish warehouse market hits new record

by Property Forum
The warehouse sector in Poland remains in good shape after the first half of 2022. The market continues to see high tenant activity (3.7 million sqm; +12% y/y), generated mainly by e-commerce, retail chains, and logistics companies. At the end of June this year, developers delivered another 1.8 million sqm (+64% y/y), with the market still facing a shortage of vacant space. The high absorption rate is influencing decisions to start new investments. The result of 5.6 million sqm (+56% y/y) of projects currently under construction is the highest value recorded in the history of the entire sector. AXI IMMO summarizes the first half of the year in the warehouse market in the report "Polish Warehouse Market in H1 2022."
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News CA Immo expects significant organic increase in rents
25
Aug
2022

CA Immo expects significant organic increase in rents

by Property Forum
CA Immo has reported strong second-quarter results, continuing the positive business development of the previous quarters. In a challenging market environment, CA Immo increased its recurring earnings (FFO I) in the 1st half-year by 7.9% compared to the previous year, to €73.9 million. Rental income in the first six months was stable at €121.1 million (+1.0% y-o-y), reflecting recent portfolio additions and organic growth despite property sales. Consolidated net income improved by 28.5% to €220.1 million. Following the strong first half-year, CA Immo expects recurring earnings (FFO I) of more than €125 million in the 2022 business year.
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News Immofinanz’s net profit reaches €163 million in H1 2022
25
Aug
2022

Immofinanz’s net profit reaches €163 million in H1 2022

by Property Forum
In H1 2022, Immofinanz's rental income reached a high level of €144.2 million, the results of asset management improved by 3.0% to €110.0 million, and sustainable FFO 1 from the standing investment business rose by 6.1% to €78.7 million. Net profit equalled €162.7 million, whereby the first half of the previous year was influenced, above all, by a substantial revaluation of the investment in S Immo. With an equity ratio of 57.3% and conservative debt with a net LTV of 32.5%, Immofinanz has a strong capital base.
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News Czech retail park construction boom continues
24
Aug
2022

Czech retail park construction boom continues

by Property Forum
At the end of June 2022, the supply of modern retail space in the Czech Republic amounted to almost 3.97 million sqm. Shopping centres take about 67%, retail parks 31% and outlets the remaining 2% of the market. During the first six months of 2022, the retail park construction boom has not stopped yet and the retail market expanded by 19,500 sqm. Over the last five years, the share of retail parks has increased by 5%. The largest completed project in the first six months of this year was Shopping Centre Řepy in Prague. Another 52,300 sqm of retail space is currently under construction across 12 projects, of which 31,200 sqm is expected to be completed this year, says JLL in its retail market report for Q2 2022.
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Latest news


New leases

  • Signify is relocating its existing headquarters in Lódź. The new office, located in the city centre in the Hi Piotrkowska complex, has an area of over 2,800 sqm. The tenant was assisted in the signing of the contract and the process of arranging the new office by the consulting firm CBRE.
  • Magwise Medical Centre is a new tenant of the Wola Retro office building in Warsaw owned by Develia. The clinic, which specialises in mental health, has taken nearly 390 square metres of space on the ground floor of the building.
  • Logistics company Fiege will lease approximately 5,000 sqm in the ONE industrial park in Lovosice built by Cromwell Property Group. The transaction was arranged by Matěj Indra, head of the industrial department at 108 Agency Czech Republic.

New appointments

  • Lucia Niculae has been appointed Business Development Director of Romanian construction company Pedro Construct. She has been an investor since 2018 and currently manages her own property portfolio. 
  • 108 Agency promoted Matej Indra to Head of Industrial Agency for the Czech Republic.
  • Michał Ozimek has joined the Valuation department at Corees Polska - Commercial Real Estate, taking up the position of Senior Valuation & Investment Analyst. Working in the agency's Warsaw branch, he will be responsible for supporting processes related to the development of property valuations.


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