ARTICLES LABELLED WITH TAG residential

The industrial area of the former Aritma industrial building in Prague's Vokovice will be replaced by a residential district with park areas. After several years of negotiations, the Prague 6 municipal district, representatives of the local residents and the investor, Crestyl, have agreed on this. In addition to the construction of new villas and family houses, the agreement includes extensive compensation for local residents, announced Jakub Stárek, the mayor of the district.

The latest plans of YIT include residential construction outside of Prague. The company plans to gradually build 800 apartments on the outskirts of Kladno within 12 years, e15.cz reports.

Mega Mall, the shopping centre in Bucharest owned by NEPI Rockcastle, will be expanded with new stores and a residential component that will include around 180 apartments. 

Most of the crown that constitutes the architectural and compositional peak of the Eurovea Tower residential development by JTRE has reached its final height of 168 metres. Only the crown, the façade on the upper five floors and the residential interiors remain to be completed in Slovakia’s tallest building. The entire project is planned to be finished next summer.

Duna House Group published its monthly Transaction Number Estimate, according to which 8,000 residential properties changed hands nationwide in November 2022. This value represents the weakest month this year, a 4 percent drop compared to the previous month and a 27 percent drop compared to November last year.

When it comes to residential real estate assets, Czechs are oriented largely towards an ownership model. The ratio of owner-occupied to rented apartments in Prague, for example, is approximately 70:30, similar to the EU27 average. Still, the Czech Republic is somewhat behind more advanced markets in terms of market evolution towards new trends. However, with the shift to hybrid working, intense talent searches, and the growth of the business services sector, Prague and other large Czech cities will need more flexible housing solutions soon. The average bid price for a newly built apartment in Prague was approximately CZK 155,000 per square meter during Q3 2022. This represents an increase of 7% since the start of the year, according to an analysis done by Colliers.

The AFIhome Karlín rental residence project with 172 apartments from AFI Europe has been approved. This is the second rental housing project by AFI Europe, this time for CZK 1 billion (€41 million). The apartments will be available for move-in in spring 2023, the developer announced.

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.