In 2020, Echo Investment achieved a net profit of PLN 122 million, which was the result of hand over 1,505 apartments to clients, growth in value of the commercial projects under construction, as well as completed Resi4Rent projects.

Homing Properties is investing €10 million in a new residential project in Bucharest, the company announced. Homing Properties will begin this year with the construction work of a residential project in the city centre, in the area of ​​the Grădinea Icoanei, which will have 45 apartments.

Czech development group Horizon has announced the successful completion of the acquisition of 240,000 square metres of land from the Manghi Group in the village of Statenice in the district of Prague-West. The Aura - Bydlení Statenice residential project will be built on the newly-acquired plot, eventually offering over 500 units in the form of family houses and flats, while helping to strengthen local civic amenities. The start of development, as well as the sale of semi-detached houses and villas from the first phase of the project, is planned for this autumn.

Vastint Poland has signed a contract with Budimex SA for general contracting services for the initial part of the second phase of the Waterfront complex in Gdynia. The planned investment will be built on Hryniewickiego Street, in the vicinity of Kościuszko Square, and will comprise the construction of four buildings totalling ​​45,000 sqm including underground garages. The general contractor plans to start construction in May of this year, with the investment scheduled for completion in 2023.

Residential rents in Hungary rose slightly in February, but looking at the longer term, this appears to be more stagnation than a substantial turnaround, the joint rent index of the Central Statistical Office (KSH) and real estate portal ingatlan.com shows. The average rent rose 1.1% in Hungary and 0.8% in Budapest month-on-month.

The city of Pardubice is transferring one of its largest brownfields, the area of ​​the former Tesla Kyjevská, to Linkcity Czech Republic. The new owner will embark on the reconstruction of this area into a new residential district with 250 apartments, a supermarket and 10 terraced houses.

COVID-19 is going away very slowly, which is putting pressure on the digitization of residential sales. Solutions that enable digital signatures, online viewings and even online selling are becoming necessary tools for residential developers, says Jakub Licak, Business Development Manager at CEE-based proptech Realpad, who’s responsible for the company's international expansion in Romania and Bulgaria. He talked to Property Forum about his experiences on the Romanian market and discussed Realpad’s expansion strategy.

Romanian developer One United Properties announced it received the construction permit for One Verdi Park, a new residential project in Bucharest.

Zdeněk Tůma the former governor of the Czech National Bank (2000-2010), portfolio manager Martin Pětivoký and Martin Hubinger , the owner of residential developer Realism, have founded IRQ Funds and are launching a new fund named IRQ Residential Rental for qualified investors focused on rental housing.

Multifamily investment has proven to be the most resilient real estate sector in Europe during 2020 and the new core, with a 6% increase year on year and a 17% increase on the past 5-year average, according to Savills.