ARTICLES LABELLED WITH TAG report

The office market is changing due to the coronavirus pandemic, albeit not as dramatically as initially expected. Offices as a concept are definitely not over and working from home is not becoming a lasting standard – it has been confirmed that it has its limitations and that personal contact is irreplaceable. A hybrid model, combining working in the office and at home, will likely be more common. Office space take-up is still below the pre-crisis figures, but the activity on the market has been growing recently. For the time being, the growth has not been enough to justify the growth in rental prices that would be necessary due to an increase in construction material prices, but both can be expected to grow in the future. The crisis has halted the progress of some schemes, so we will not see a major increase in new office stock before 2023. This could result in demand overhang, and thus in increased rents in the years to come, according to Cushman & Wakefield.

Discount retailers are predicted to find the CEE market very attractive as evidence shows shoppers have favoured the ‘value for money’ approach these retailers provide, reveals a new report by Colliers.

The price of newly built homes in Budapest rose more than 8% in the three months between August and November and the average price per square metre is now nearly HUF 1.1 million (€3,000), Eltinga’s latest Budapest Housing Report shows. Below is a breakdown of new home prices by district.

Colliers reveals that 57% of EMEA investors (and 60% of global investors) chose quality office assets in major markets as their top strategy picks. European cities like London, Paris, Berlin and Munich have retained their allure and will be in high demand next year.

Romania is expected to see only moderate growth on the horizon. Serbia, having recorded the biggest expansion of almost 100% in the 2014-2020 period, is foreseen to plateau in the upcoming years, according to the Eastern European Construction Forecasting Association’s 2021 Winter Construction Forecast Report.

ULI Poland and PWC name cybersecurity and inflation within top wider concerns for 2022. Best investment prospects are in London, Paris and 4 German cities, Warsaw with a “good” outlook took 15th place in the "Emerging Trends in Real Estate 2022" report by both companies.

According to the latest report by Savills, the record take-up levels and no speculative completions caused the vacancy rate on the Czech industrial space market to plummet 70 bps to a new low of 1.75%, one of the sharpest quarterly declines observed in the market in the last five years. The total volume of modern industrial space available for lease across the country fell from 226,700 sqm in June to 165,000 sqm in September.

The spectacular net take-up of 3.5 million sqm at the end of Q3 was better than any other total for the first three quarters of a year. The Polish market was also one of the driving forces behind the record demand in Europe. Advisory company JLL analyses the industrial market at the end of Q3 2021 and outlines the key trends and developments for the sector in the coming months.

The latest report by BNP Paribas Real Estate Poland shows that in the first three quarters of this year, a record demand for warehouses was noted, amounting to almost 4.8 million sqm. The company’s analysts also point out that movement at construction sites, where work is currently underway, has also set a new record, with more than 3.7 million sqm of modern office space under construction. As in previous quarters, the development of the sector together with an increased demand for logistics spaces, have been primarily driven by a rise in e-commerce, as well as an increase of companies operating in the logistics and trade sectors.

Climate change presents new challenges for the real estate sector but also an opportunity to get ahead of the competition. The topic was discussed at Balkans Property Forum 2021, Property Forum’s annual event in Belgrade.