Similar to Prague, Brno also recorded only a slight year-on-year increase in the supply of modern office space in 2024, with the total market size increasing by only 8,600 square meters. The same was true in Ostrava, where the construction of modern office buildings has been subdued in recent years, with exceptions, and the average annual completed area over the past 5 years is 5,800 square meters. Despite the lower supply, both cities represent an attractive alternative for investors - rental prices are stable and lag behind the Prague market. In Brno, at the end of 2024, the rent for premium office space in a modern design was EUR 17 per square meter per month, while in Ostrava it ranged between EUR 14 and 14.50. Other regional cities, especially Plzeň, Hradec Králové and Olomouc, could attract investors' attention in the coming years thanks to new projects and improving transport infrastructure. This is according to the latest analysis of the regional office space market by Colliers.
YIT has successfully completed the rough construction of the first phase of the Toivo Roztyly residential project in Prague 11, which includes 88 units. Its final approval should take place at the end of this year. The second phase, which should start this year, will include another 116 apartments. The complex, with its minimalist and timeless design, will include a number of ecological elements and plenty of greenery.
Office space in Karlín is among the most sought-after in Prague. Successful companies, especially in the fields of information technology and communication, are moving their headquarters here. Now, the major Czech communications group KNOWLIMITS is also planning to move here.
Investiční aktivita na trhu komerčních realit v České republice vystřelila v posledním čtvrtletí roku 2024 prudce vzhůru. Dokončeno bylo několik významných transakcí, jejichž celkový objem činil 740 milionů eur. Dominantním zdrojem investic zůstával i v tomto období český kapitál. Značnému zájmu investorů se těšil zejména maloobchodní segment. Po období rostoucích výnosových měr v letech 2022 a 2023 se „prime yieldy“ v roce 2024 stabilizovaly, a trh tak našel novou cenovou rovnováhu. Vyplývá to z pravidelného kvartálního průzkumu společnosti Colliers.
Development and investment group Crestyl appointed Andrej Zveržhanovský as its CFO for the Czech Republic in February. In this key position, he became part of Crestyl's management, where he will be responsible for the financial management of the company's Czech activities. This was previously the responsibility of the CFO (Chief Financial Officer) of the entire Crestyl group, Jozef Ďurík, who will be freed up by Andrej's appointment and can thus focus more on the group's international financial development.
The development and investment group Crestyl today presented its new project in Prague's Pankrác. In the spirit of modern trends, the building, simply called BOKA Pankrác, is designed as a multi-purpose project that connects commercial premises and a supermarket with high-standard offices. BOKA Pankrác will replace two existing old buildings right next to the Kotorská tram stop between the Pankrác and Pražského povstání metro stations. Construction of the project should begin in the third quarter of this year, with completion scheduled for two years later. The total investment is CZK 1.5 billion.
The fourth quarter of 2024 was the second quarter in a row when no office project was started in Prague. It was also the period when only one project was completed, 100Yards in the city center. The vacancy rate remains very low, increasing by only approximately 0.2 percentage points year-on-year. The total volume of modern office space at the end of 2024 reached 3.96 million square meters, which is less than in Warsaw or Budapest. The highest achievable rent in the city center is currently EUR 29.50 per square meter per month. 2025 could bring slightly higher construction activity, thus moving the market again. This is according to a regular quarterly survey by Colliers.
The construction industry has become increasingly digital in recent years, bringing new opportunities for more efficient project management and increased productivity. However, this progress comes hand in hand with cybersecurity challenges, as sensitive information such as contracts, financial data or project proposals face the risk of attacks. However, experts at PlanRadar, a leading platform for digital documentation, communication and reporting during construction and property management, point out that there are effective tools and strategies to minimize these risks and ensure data protection.
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