Over 52,000 homes were sold in Bucharest and its surroundings in the first ten months of 2022, up 9.16% compared with the similar period from 2021, according to data published by the National Agency for Cadastre and Land Registration. 

Residential developers in Poland are aware of the importance of ESG but they feel that their customers are often still focused on the price only. The participants of the ESG panel of Living Investment Forum 2022, held by Property Forum in Warsaw recently, agreed that the legal and financial pressure put on the construction industry may not be enough and there is still a lot to be done in terms of education.

Immofinanz is concentrating on the strategic growth areas of retail properties and myhive office solutions in the current market environment and has sold the rights for joint use of the development concept for sustainable and affordable housing over single-storey buildings to Dietmar Reindl. This innovative residential concept will now be expanded to include implementation by this former Immofinanz Executive Board member under his own flag outside the Immofinanz Group. Immofinanz retains the right to implement the concept on its own properties at any time and remains the owner of the On Top Living brand.

Czech company Jamp, which focuses on property rental, has bought the former headquarters of Raiffeisen stavební spořitelna in Prague. The company is now considering turning it into a residential property. Neither party has disclosed the purchase price. The group plans to make further property purchases outside the Czech market, Nikolina Peričová, the company's Managing Director, told the daily HN.cz. 

Authorizations of new residential developments in Bucharest were down in the first semester by one third compared with the same period of 2021 but hit a 14-year record with a permitted volume of 350,000 sqm in July alone, shows data from Colliers Romania. 

Prima Development Group has started the development of a new residential project in northern Bucharest that will feature 482 apartments. 

Residential units in Poland – is it better to build them to rent or to sell in the current economic environment? The participants of Living Investment Forum 2022, held by Property Forum last week in Warsaw, were unanimous – for now, rental is the only choice.

Nooka Space, a start-up that operates smart flex offices, has announced a partnership with NEPI Rockcastle for the implementation of flexible workspaces on the premises of the group’s retail portfolio in Romania. 

Romanian property company IMPACT Developer & Contractor recorded a net profit of RON 15 million (€3 million) in the first nine months of 2022, which was double compared to the same period of last year over higher residential sales. 

Residential and commercial developer Nusco Imobiliara has appointed Bogdan Iliescu as Commercial Director. He has over 15 years’ worth of experience in the real estate market and has previously covered sales, coordination, and management roles in property companies.