Victor Terheș, Sales Director at Bellemonde, talked to Property Forum about the status of its €40 million residential investment in northern Bucharest and the growing demand for homes in this area in the long term.

Prague is intending to buy the historic building of the freight station Žižkov and the adjacent land from Czech Railways, reports E15.cz. If the purchase is completed the capital is planning changes to the zoning plan in the entire extensive brownfield next year allowing other developers to build.

Developer VI GROUP has prepared another stage of its RNDZ project. It is coming to the market with the RNDZ 2 in Rača, Bratislava. VI Group is revitalising the previously unused neglected plot of land into a residential area.

Construction activity in the 19 Euroconstruct countries is projected to decline by 2.4% in 2024, while next year it should return to growth, with an estimated rate of 0.6%, according to the conclusions of a conference held in early December 2024, in Milan. 

The location of Kyje-Hutě on the outskirts of Prague is subject to expansion in the future with a new housing development, a primary school and two kindergartens, a bus line and other infrastructure. 

Price pressure and uncertainties still exist in the residential market in CEE. Build-to-sell is dominant and build-to-rent has already started in some countries. According to the panel focusing on the challenges and opportunities in the residential market at CEE Property Forum 2024 in Vienna, stabilised construction costs and lower mortgage prices, however, may boost investments.

Real Management has secured additional credit financing amounting to PLN 120 million (ca €28 million), which will be allocated to the expansion of its development activities. The financing was provided once again by mBank S.A.

The Lett Markowska project in Warsaw's Praga Północ district, being developed as part of the housing platform by Nrep, has received financing of PLN 60 million (ca. €14 million) from Santander Bank Polska. The funds will be allocated to the development of the investment, which includes 179 rental apartments. This marks the first collaboration between Nrep and Santander Bank Polska.

The European average home price was €5,666 per sqm during Q3, a 2.1% increase compared to Q1 2024, finds a report by Catella, which tracks 58 cities across 16 European countries. 

UDI Group is starting construction in another European market, Hungary after the new year. The mixed-use Parkside project in Budapest is planned near Váci Road with apartments and a hotel for medium and long-term accommodation.