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Cushman & Wakefield: Firms Don't Move Too Much, Prefer to Negotiate Existing Contracts

The five largest rental transactions on the Prague office market last year were renegotiations, i.e. renegotiations of existing contracts. It is a route that companies whose leases are coming to an end are increasingly preferring before moving to new premises. The high costs of office equipment, the so-called fit out, which Prague has the highest in the region of Central and Eastern Europe and comparable to, for example, Paris, also contribute to this. Last year in Prague, they averaged 1,252 euros per square meter, which is an 8% year-on-year increase. The real estate consulting company Cushman & Wakefield provides an analysis of office equipment costs in its annual EMEA Fit Out Cost Guide.

Last year, Czech investors in CEE carried out transactions for almost 1.5 billion euros

According to the current report of the real estate consulting company Cushman & Wakefield, the commercial real estate market in 2023 in the Central and Eastern European region saw a significant decrease in investment volume: year-on-year it was a 55% reduction to a total of 5.02 billion euros. The largest part of the capital went to the office sector, which also saw the most significant increase in income. Despite the complications, the market is showing resilience, especially in the logistics and residential sectors, which are the areas with the greatest potential for growth.

Spork Palace is changing owners, bought by Generali

Cushman & Wakefield represented Generali Real Estate in the acquisition of Spork Palace, a unique project in Prague 1. The seller is SEBRE, as The price was not published. The contract was signed on March 11, 2019.

Nová Palmovka to be new hub for Prague 8

Retail space is 99 percent pre-leased more than one year before the opening of the mixed-use center

Central Europe’s industrial RE market accelerates

Development and take up is high, vacancy rate is falling
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