In the first half of 2024, Echo Investment Group successfully implemented its growth strategy, continuing construction projects, selling nearly 900 apartments, and debuting in the private student housing segment. The Group's total assets at the end of June exceeded PLN 6.5 billion (ca. €1.5 billion) with cash reserves surpassing PLN 523 million (ca. €121 million).

The Reico ČS Nemovitostní (RČSN) fund is expanding its investment portfolio. To its commercial real estate portfolio the fund is now adding the first residential rental housing project. 

The share of residential transactions in Prague within total investment volumes has been increasing since 2023, according to Savills' Rental Housing in Prague report. In the first half of 2024, it reached almost 18%, equivalent to €158 million.

"Airbnb is a housing issue, not a tourism issue, so that's not how we approach it," said Márton Nagy, Hungary's Economy Minister at a press conference on Tuesday. He stressed that they can agree with Alexandra Szentkirályi, president of Fidesz-KDNP in Budapest, who had said earlier that whatever the decision, she would propose to the government to introduce corresponding rules in Budapest and nationally.

Geosan Development is launching sales in the Re.Start Petynka apartment building in Prague 6 near Břevnov and Hradčany. The estimated start date for construction is the beginning of 2025.

Poland has seen one of the fastest residential rental growth rates in the European Union in the last five years, with rental inflation in major cities rising to double-digit levels. This growth was largely driven by elevated financing costs, inflation and the migration of people to Polish cities. Average rents for a 1-bedroom flat in Warsaw are higher than in Prague, Vienna and Bratislava, but still well below those in London, Zurich or Dublin, says Cushman & Wakefield in its latest report.

YIT has launched the sale of apartments in the tenth stage called Tampere in the Suomi Hloubětín complex in Prague. The high-rise building on Waltariho Street will become the dominant feature of the new Finnish Quarter. The Tampere building is designed to complete the renovated central square of Alvar Aalto.

UBM Development Czechia has completed the Timber Praha project in the Prague-Řeporyje district. The future owners can move in in Autumn this year.

Fetters has joined the residential developers club with the Panorama Braník project in Prague 4. The company has been engaged in comprehensive construction project management since 2013. The biggest challenge so far is the project management of the Vltava Philharmonic in Prague.

Romanian investor and developer River Development has announced its rebranding as Sema Real Estate, with all current and new projects to be reunited under this umbrella.