News

Czech investment market Q3 2018 - overview

The Czech investment market saw transaction volume of ca. €221 million in the third quarter driven mainly by buoyant activity in the office and retail segments.

Situation in the investment market slowed in the third quarter of the year with investment down 51 % from the previous year. 

Looking at the investment market segments, office property with around €95 million became the most favoured sector for investors in the monitored period 2018 Q3.

Significant office investment volume stemmed primarily from the €39 million acquisition of the building Dům odborových svazů in Prague 3 and  further the acquisition of Polygon House located in Prague 4.

Report | Czech investment market Q3 2018

Prague office market Q3 2018 - overview

Real Estate and Consulting Company Professionals Ltd.. informs about the state of the Prague office market in Q3 2018.

Office stock increased in 2018 Q3 adding approximately 40,600 m2 of office space     to the Prague‘s market. The largest newly completed office building is called Palmovka Open Park; the project is located in Prague 8 and comprises 24,500 m2 of A class office space. The office complex AFI Vokovice also obtained its final approval in Q3;  this project consists of two office buildings with total office area of around 12,100 m2.

Around 346,000 m2 of office space were pending delivery in the capital located primarily in Prague 8 and further in Prague 4, in Prague 5 and in Prague 6.

Prague office vacancy rate in the third quarter of 2018 got closer to the 6% mark, standing at 6.1 %.

Report | Prague office market Q3 2018

The new residential project Zelené Modřany on sale

We have just launched the sale of 19 family houses, 4 kk in the residental project Zelené Modřany, which closely follows the successful project Bydlení na Beránku. The location is surrounded by greenery and still close to the city centre, making it ideal for family living. 

Take this opportunity to choose first 

Prague residential market 2018 H1 - overview

Real Estate and Consulting Company Professionals Ltd. informs about the state of the Prague residential market in 2018 H1.

In the first half of 2018 Prague saw only 1,801 issued building permits, down from 2,462 registered in the first half of 2017. Over the last five years an average of around 5,144 newly completed apartments have been registered in Prague each year.Further increases in apartment asking prices were registered in all monitored locations in the first half of 2018.

Report| Residential Market 2018 H1

The development of the Kbely complex is on track

Professionals Ltd. | The development of the area Kbely is on track
Real Estate and Consulting Company Professionals Ltd. in long-term cooperation with the shareholders of Maloja Investment SICAV, JSC mediated further sale of the real estate in the Kbely industrial complex. Subject of the transaction was the original galvanizing plant. Merbadu is the new owner of the 10 000m2 property. They have taken full advantage of the real estate potencial in a very short space of time, and continues to work on developing and upgrading premises to improve the current conditions for existing tenants. 
"The whole area of Kbely offers many expansion opportunities for landowners and industrial property owners, thanks  to excellent connections to Prague´s backbone communications and public  transport", says Petr Kozojed, Head of Investment at Professionals. There are many facilities in the immediate vicinity of the complex, golf course, residential neighborhoods, private airport for small airfield with service facilities and metro station. 
"We are glad we could recommend such a reliable buyer to the owner of the Kbely complex and thus participate in the successful development of the property“, concludes Petr Kozojed.
 

Prague office market Q2 2018 - overview

Professionals Real Estate and Consulting agency informs about Prague office market Q2 2018.

The majority of new supply was developed in Prague 4 and in Prague 5 in the second quarter. In total over 42,000 m² were completed in the capital city of Prague. Office supply in Q2 increased slightly when compared to the first quarter, reflecting a large amount of office space underway being lately on the Prague market. Waltrovka - Dynamica with 13,000 m² located in Prague 5 was one the largest completed project in 2018 Q2. The largest newly completed office building In the Prague 4 district was Trimaran comprising 10,300 m² of office area. Prague office market is expected to see lower new office supply in the second half of the year.

In total, there was approximately 296,700 m² of new office supply under way in the Prague property market. It is forecasted that by the end of 2018, there will be further completions in Prague of ca. 66,000 m². The estimate of completions for next year 2019 suggested around 170,300 m². Districts P8 and P4 comprised nearly 1/2 of the Prague pipeline in 2018 Q2. The largest office project slated for completion in the 2018 H2 was Palmovka Open Park with 24,500 m² in P8. In 2018 Q2 construction work on two new projects located in P4 and P9 was started.

Prague office prime rents have been largely stable in the capital, apart from Prague Central Business District (CBD) showing an increase in prime rent from 20.00– 21.00 € /m²/ month to 20.50 – 22.00 € /m²/ month. Prime rents stayed unchanged in areas such as the Inner city and Outer city where prime rents were between 14.50– 16.50 € /m²/ month and 13.00 – 15.00 €/m²/ month respectively.  In the second quarter the office vacancy rate increased to 6.7 % from 6.4 % a quarter ago. In the q-o-q comparison the office vacancy rate increased by 30 basis points and decreased by 200 basis points y-o-y.