ARTICLES LABELLED WITH TAG Savills

On 1 March 2024, Savills expanded its Operational Capital Markets (OCM) division in Poland to provide advisory services for property investors, developers and operators across all operational real estate sectors.

Only 60,900 sqm of office space was completed in the Polish capital in 2023, the lowest total in the history of the Warsaw office market. Savills also notes that development activity in Warsaw picked up in the second half of last year in response to a prolonged period of undersupply. In the most optimistic scenario, approximately 445,000 sqm of new office space will be delivered onto the Warsaw market in 2024–2026. 

The Prague Research Forum – CBRE, Colliers, Cushman & Wakefield, iO Partners, Knight Frank and Savills – has shared an updated Prague office market insight. Figures and data for Q4 2023 have confirmed a cautious approach both from developers and tenants.

The latest report from Savills indicates that the highest demand for electric vehicle charging points is observed in Germany, France, Sweden, Norway, and the United Kingdom. Poland ranks in the top twenty countries with the highest growth potential for the development of EV charging infrastructure, presenting opportunities for commercial property owners and investors active in this market.

Despite significant headwinds across the global economy, the European flexible office market has remained largely resilient throughout 2023, says Workthere.pl. In 2024, the flexible office specialist expects operators to continue to seek best-in-class spaces with a greater focus on amenities and sustainability offerings.

Savills has strengthened its Investment team with a promotion and a new appointment. Fraser Watson has been promoted to the role of Head of Investment for the Czech Republic & Slovakia and Hugo Fischer has joined the Investment team as an Associate.

Savills has promoted Kamil Kowa to Managing Director of Savills Poland. In his new role, Kowa will work closely with Stuart Jordan, CEO of Central and Eastern Europe (CEE) at Savills to help clients operating in or looking to enter the Polish real estate market.

2024 will be a challenging year for many companies in the CEE real estate sector that will have to refinance their loans at new, increased costs. Those that need to redeem their corporate bonds in the coming quarters may also have a lot of problems.

Savills recorded 40 transactions closed in 2023 in the Czech commercial real estate sector with a total investment volume of €1.2 billion. Investment volume in 2023 was down 32% in comparison to 2022. 31% of investment transactions in 2023 were closed in Prague.

Savills has been appointed as property manager for Mogilska 35 Office in Kraków. The six-floor office building is one of the latest office projects delivered in southern Poland by Warimpex.