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Articles - office building

Pařížská, Hagibor, Lihovar, Smíchov. Check out the best real estate projects of 2024

At the gala evening of the 26th edition of the Best of Realty competition, organized by the Association for Real Estate Market Development (ARTN), the best development projects of 2024 were announced. In individual categories, awards were given to projects that are exceptional in their contribution to the location, architectural and urban concept, quality of implementation, or their approach to sustainability and innovation.

Hundreds of apartments, offices, park. In Karlín, construction is almost like after a flood

When you think of the development of Karlín, you probably think of the period at the turn of the millennium, when investors led by Serge Borenstein started to transform the gray inner periphery of the city into a new lively district. The development was also accelerated by the floods in 2002, which, although they were a disaster for many, meant new construction possibilities for Karlín.

Nothing bigger has been built in Prague since Vinohrady was founded. Smíchov City is heading to the next phase

V polovině června začala výstavba další části obrovského projektu Smíchov City, který staví developerská společnost Sekyra Group. Druhá fáze, nazvaná Smíchov City Jih, bude v mnoha ohledech výjimečná. Třeba výší investice, rozsahem výstavby, ale i tím, že v ní vznikne nové sídlo České spořitelny.

Office construction in Prague slowly comes back to life, the market is being saved by renovations

The market for modern office space in Prague at the end of the 1st quarter of 2024 amounted to approximately 3.91 million m2. The vacancy rate increased slightly to 7.5%, representing approximately 292,000 m2 of vacant office space available for immediate lease. After a long period of inactivity, new speculative construction is now slowly starting to thaw. And despite the long-term growth of rents, Prague remains an attractive and competitive location attracting new investors. This is according to the regular quarterly survey of the office real estate market published by Colliers, a leading provider of diversified professional services in the field of commercial real estate and investment management.

The regional office market becomes increasingly attractive, attracts by lower prices and greater availability of space

Regional cities in the Czech Republic are becoming an increasingly interesting alternative for investors looking for cheaper, yet high-quality office space outside of Prague. That's according to the latest survey by Colliers, a leading provider of diversified professional services in commercial real estate and investment management. According to him, net realized demand in Brno grew by 43% year-on-year, in Ostrava by 127%. At the same time, prices are kept at a level that is one third to one half lower than in Prague. Even more interest in regional cities could be aroused by a better offer of serviced offices, which are of particular interest to established companies on the market in connection with the development of hybrid work and the introduction of hub & spoke or flex & core models.

The area of coworking spaces in Prague increases, further expansion is hindered by insufficient construction

With the development of work trends and a flexible approach to the working environment, coworking spaces are increasingly gaining ground in the Czech Republic. Their area grows by an average of 10-15 thousand square meters per year. Coworking spaces represent roughly 3% of all office spaces in the metropolis. In terms of square meters, Prague does not compare to Western metropolises, but within Central and Eastern Europe, this is an average value.

Zeitgeist Asset Management obtains more prestigious tenants in Palác Dunaj in the historical centre of Prague

The international law firm CMS and the European Investment Bank (EIB) have rented office space in the newly renovated Palác Dunaj building on Národní třída. The total occupancy has now reached almost 80%. Only one floor of offices and retail units on the ground floor of the building remain vacant, though negotiations with potential tenants are already underway here as well.

Colliers - Prediction 2024: Development, challenges and opportunities in Central and Eastern Europe

Colliers, a leading professional services company in the field of commercial real estate and investment management, has released its forecasts for the Central and Eastern Europe region for 2024. The GDP growth rate is expected to increase and therefore the activity in the commercial market. What are the other key points and trends from the Colliers predictions?
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