The vacancy created by the demolition of a vacant apartment building on the corner of Milady Horákové and Koliště streets in the center of Brno will be filled in two years by an administrative building with a roof garden. The development company Trikaya named the project Landmark and wants to start construction in the first half of this year. This was stated by a representative of the development company for ČTK.
Coworking and flexible offices are one of the few industries that have been significantly boosted by the coronavirus pandemic. Although HubHubu, the operator of two shared spaces in Prague, had its occupancy reduced to 50 percent during the strictest closures, this year it is reporting that it is practically occupied. One of the reasons is the hybrid work style, to which a significant part of companies have reoriented. Instead of startups, flexible offices are increasingly being rented by larger companies as well.
After three quarters this year, the Prague office market already exceeded the volume of transactions from the covid years 2020 and 2021. The year-on-year increase in gross and net realized demand, i.e. new contracts and their extensions, amounted to 38 percent. Office vacancy has fallen by 0.3 percentage points since the start of the year to 8.1 percent, and demand for flexible space is growing. Prices will increase in the coming year, which, according to representatives of construction and real estate companies, will be reflected in inflationary clauses in contracts and energy prices.
CBRE, a world leader in commercial real estate services, summarizes the results of an extensive comparative analysis focused on the benefits of green certifications in office leasing. On a sample of 58 million m2 of office space and 44,500 lease agreements concluded in 18 European countries, including the Czech Republic, it shows the value that green certifications such as BREEAM or LEED bring to owners of administrative properties. Based on a comparison of several key indicators, CBRE has shown that the average vacancy rate in certified buildings is almost 2% lower than in non-certified competition, while the price per square meter of leased space is, on the contrary, 5.5% higher. The comparison of individual European markets is also interesting, from which the Prague one emerges as mature. Owners of sustainable buildings here achieve very good results in the long term.
At the beginning of April, Passerinvest Group introduced the new visual identity of the Brumlovka locality. In connection with the newly-chosen communication identity, there was also a redesign of the website and primarily the launch of a new Brumlovka mobile app. The visually pure and user-friendly mobile app offers a comprehensive overview of everything the locality offers the general public. Users who download the app will have access to a map with navigation throughout all of Brumlovka, an overview of the daily menus of the individual restaurants and cafeterias, a calendar of events, a map of parking lots and charging stations, and the offer of sports facilities, parks and playgrounds. Another benefit is the timetable for all the mass transit routes passing through the location. The app also includes the current offer of space for rent.
Like sand in an hourglass lidé, people should be able to move within the Ostrava Tower skyscraper within six years, which is to be built in the center of Ostrava according to the design of the Chybik + Kristof Architects & Urban Designers studio.
Despite the negative impact of the covid-19 pandemic on economic activity, the European commercial real estate market is on the verge of recovery. According to the analysis "EMEA Real Estate Market Outlook 2022" by CBRE, the expected volume of investments will return to pre-pandemic values by the end of 2022. This will also be reflected in the commercial real estate market in the Czech Republic.
Demand for commercial real estate in the country is still strong. The Czech market is established as highly sought after and provides investors with stable returns. It is well resistant to asset value fluctuations and supported by strong foreign and domestic capital.
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