ARTICLES LABELLED WITH TAG Savills

According to the latest Savills Investment Report, the commercial property market in the Czech Republic is expecting a strong close to 2024. The total transaction volume for the first three quarters of 2024 has reached €1.09 billion. 

According to Savills European Office Occupancy Rates Report, Prague has, for the first time since the pandemic, surpassed the 60% threshold for physical office occupancy, reaching 61% in October this year.

Despite a slight increase in vacancy, demand for new offices in Prague persists. However, companies still prefer renegotiations. Lease renewals are almost always accompanied by interior modifications leading to more efficient use of space, reports Prague Research Forum in its Office Market Figures for Q3 2024.

According to the Savills European Real Estate Logistics Census, the Czech Republic is becoming a key destination for industrial tenants' expansion within Central and Eastern Europe. 

Extreme heat, droughts, and floods are becoming more frequent, and the ability of cities to prepare for these climate changes is playing an important role. In terms of heat, the top three cities in the new Savills Heat Resilience Index are Helsinki, Copenhagen and Stockholm. 

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.

According to the 2024 Savills Nearshoring Index study, the Czech Republic is the second most attractive location for industrial occupiers looking for ‘nearshore’ supply chains. 

Savills is moving its headquarters to new office space within the Masaryčka project in the centre of Prague. An additional 50% floor space is giving the Savills the foundation to expand its headcount towards 100 employees over the next phase of the business.

Savills' research has shown a positive growth outlook for the European grocery sector for the coming years. Savills is forecasting stable yields within the field and has noticed an interesting shift in consumers’ preferences.

The Regional Research Forum has presented H1 2024 Brno and Ostrava office market data. The vacancy rate in both cities is moving slightly below 12%.