Vlad Musteață, CEO of North Bucharest Investments, spoke to Property Forum about the outlook for the residential market in the north of Bucharest, as well as the agency’s accelerated sales growth over the past two years.

Zeitgeist Asset Management has launched renting apartments and studios in the newly completed Delta Hagibor Residence on the border of Vinohrady, Strašnice and Žižkov in Prague. Invesco Real Estate owns the project and Zeitgeist has been given the mandate for its complete leasing and management.

The average flat size in Poland is 21 sqm smaller than the EU average and the overcrowding rate is nearly 20 percentage points higher, says Cushman & Wakefield in its latest report. It is therefore no wonder that despite increasingly prohibitive prices, housing demand continues to grow, thereby fuelling demand for mortgages. According to BIK data, June 2024 saw an almost 52% year-on-year increase in mortgage enquiries, with this growth also driven by interest rate cuts - the first since 2021. It would take Polish people wanting to buy a dream home several years to save up enough for a 20% mortgage deposit. Unfortunately, Cushman & Wakefield’s forecasts indicate that price growth is unlikely to ease to give Polish consumers some respite. Contrary to intentions, factors that are likely to add to their disadvantage include a new governmental support scheme and constrained land availability.  

Developer J&T Real Estate is requesting a construction change permit for the Downtown Yards project, SME.sk reports. Along with minor changes, there is an important one reflecting a trend obvious since the outbreak of the COVID-19 pandemic.

Stollwerck Residence has moved closer to construction start after years of controversy, reports Yimba.sk. The project is to be built on a cramped plot of land at the busy road junction next to the defunct railway line to Filiálka in Bratislava.

The mixed-use development Prešovská in Bratislava by the Hornex construction company received a binding opinion from the city, and the current change indicates that the investor is striving for further acceleration of construction, reports Yimba.sk.

Occam Real Estate has launched the client registration for the Tesla residence, project on Dunajská Street in the Juh district of Košice. The developer is planning the official launch of sales in September 2024.

The last two years have not been the best for the European real estate market, including in Poland. However, it seems that the worst is behind us. This is confirmed by the growing interest in Poland from foreign investors. This also applies to investors from the UK, who can still effectively diversify their portfolios on the Polish real estate market. Szymon Mojzesowicz, Member of the Royal Institution of Chartered Surveyors shared his insights on the topic. 

Despite an increasing vacancy rate in the office market reaching 14.2 per cent and sale stagnation in the residential segment in 2023, the Alto Group has now announced a net consolidated profit after tax of €8.5 million. 

The Pri Studničke project near the Bratislava Forest Park has reached the threshold of 50% of apartments sold. The project is already under construction.