With over 20 million sqm of residential and commercial space destroyed across Ukraine during the past seven months of Russia’s full-scale invasion, the country will need to be rebuilt on a large scale. It creates attractive opportunities for property developers and investors but also requires the proper planning and legal framework to ensure that the new urban environment across Ukraine is liveable, financially viable, and safe to invest in. The consequences of the Russia-inflicted war in Ukraine for the real estate sector was one of the central topics discussed at Expo Real on 4-6 October 2022 in Munich.

According to Savills, the total investment volume for Purpose Built Student Accommodation (PBSA) in Europe reached €11.7 billion in the first three quarters of 2022, a 130% increase on the same period in 2021 and a record high.

Q3 2022 in the Warsaw office market saw record-low developer activity. At the end of September, only 160,000 sqm of space was under construction. As a result, new supply is expected to drop significantly in 2023, with only 60,000 sqm of office space coming to the market, JLL reports.

The Environment component in ESG is attracting the largest share of investments made by property players, as sustainable buildings have a better position in the market, concluded speakers in the ESG panel at SEE Property Forum 2022, held in Bucharest.

In the first quarter, second-hand home prices increased by 8.9%, and new ones by 6.6%. As for the second quarter, the figures were 6.3% and 3.3%, respectively, the Central Statistics Office reports. 

According to a survey conducted by Savills involving real estate investors with total EME assets under management exceeding €500 billion, European multifamily, big box logistics, urban logistics, CBD offices and student housing are the top five sectors that investors are looking to invest in over the next 12 months.

Prague's residential market is seeing record construction this year, with more housing starts, but demand for apartments is slowing down. On the other hand, however, the growth of housing prices is slowing and mortgage interest rates are rising. This is also why the share of vacant flats supply in the Prague residential market has increased too, says JLL's regular report.

The Prague office real estate market reached several records in the first nine months of 2022. It marked year-on-year records in the growth of new office space, record demand from tenants, and even much more office space was leased this year than a year earlier, according to JLL's regular quarterly analysis.     

According to Savills, development activity has cooled dramatically in the Warsaw office market. There is currently close to 230,000 sqm under construction, of which just over 115,000 sqm is scheduled for completion in 2023–2024.

Inflation and the energy crises have not influenced the Czech industrial real estate market yet as the market broke two historical records in the period of Q3 2022. More than half a million sqm of new industrial space was completed and the vacancy rate fell below 1% for the first time in recorded history, says the newest JLL report.