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108 REAL ESTATE expands further into the Balkans: new office for Slovenia, Serbia and Croatia

After the recent opening of offices in India and Romania, the Czech real estate consultancy 108 REAL ESTATE is expanding into the south-eastern part of Europe - the Adriatic. Since September, a new office has been operating in Zagreb, covering the real estate markets of Croatia, Serbia and Slovenia. Despite the territorial differences, the entire region is united by the growing interest of developers and tenants - especially in the field of industrial real estate. For example, the supply of modern warehouses and production space in prospective Serbia amounts to just 1.3 million sqm, which is less than new office space.

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Demand for warehouses and production halls remains stable - automotive and rent reduction contributes

The domestic industrial real estate market had an interesting quarter in several respects. Data from the real estate consultancy 108 REAL ESTATE show that while 357,000 sqm of warehouses and production space was leased in the second quarter, 335,000 sqm of industrial space was leased from July to the end of September. Of these, 207,046 sqm were new contracts. The result was also achieved thanks to several successful international tenders from manufacturing companies that opted for the Czech Republic on the basis of improving lease conditions.

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The Czech industrial real estate market is preparing for a new model of production and logistics - the core can also help

Nearly 8 million square meters of new manufacturing and warehousing space could be developed in the Czech Republic in the coming years. The total supply of industrial real estate would thus exceed 21 million sqm. A significant part of the new buildings could be built on existing brownfield sites, which in some regions are almost the only option for new construction in a meaningful location - among other things, due to the increased protection of valuable agricultural land. A new study by real estate consultancy 108 REAL ESTATE shows this.

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Demand for commercial real estate in the Czech Republic is growing - capital comes mainly from domestic investors

Owners of several large shopping centres in the Czech Republic are looking for new owners or investors. Yet, surprisingly, it is residential real estate that has the domestic commercial real estate investment market on track to surpass the EUR 2 billion mark this year. Moreover, both the second quarter and the two summer months have shown continued activity by domestic funds and real estate investors. Czech capital accounted for more than 90% of all transactions in the past quarter. The total balance of over EUR 500 million was affected by the sale of the former Komerční banka headquarters on Wenceslas Square, which was acquired by the City of Prague for EUR 140 million as its future headquarters.

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Demand for new offices in Prague is rising, but limited to selected locations

The area around Masaryk railway station, the area of Smíchov up to Stodůlek or modern office buildings in Karlín and Hagibór. And Prague 4. These are the most common preferences of companies currently looking for new offices in the metropolis. Demand is concentrated on locations where the tradition on the office space market is linked to the construction of modern office buildings. Other city districts or specific locations remain in the background, even in view of the limited supply of modern working space. According to the real estate consultancy 108 REAL ESTATE, it can even be said that sufficient capacity is currently as important as the reputation of the address and availability for employees.

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The industrial space market has been helped by several large investments, a recovery in the automotive sector and rising manufacturing

The real estate consultancy company 108 REAL ESTATE registers an increase in interest in leasing industrial space in the Czech Republic in the second quarter of this year. However, the revival, expressed in roughly 357,000 sqm of leased warehouses and production space, was visible only in selected regions. It was mostly related to manufacturing companies or companies linked to the automotive sector. After a prolonged period of uncertainty, the latter recovered to a high level of performance. Already in the first half of 2024, automotive companies in the Czech Republic produced 774,310 vehicles, the highest in modern history. The boom is also synergistic in the related sectors - manufacturing and shipping.

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June Step Challenge 108: Every Step for a Good Cause

In June you could see us on the move more than usual because every step we took was a step for a good cause. For the fourth time, we held our June Step Challenge, where each of us had a goal of walking 10,800 steps a day. Over the past month, you could see us doing so:

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Lazy internet and signal outages in the elevator? Downgrade! New WiredScore certification awaits office buildings

What connects companies like Google, Spotify, Meta, Expedia and SalesForce? The need for a stable internet connection with the highest possible speed, high demands on server room security or a flawless telecommunications network. And how do office centres like The Bridge in Warsaw, Canada Water in London or Hammerbrooklyn in Hamburg fit in with these global companies? Simple: they guarantee all the superior IT and telecommunications needs of large technology companies. Tenants with the most demanding requirements for technical facilities are getting used to navigating the office market thanks to the certification - WiredScore. Since this year, the Czech Republic also has its first and so far only "domestic" auditor. He is Ondřej Svoboda, project manager at the real estate consulting company 108 REAL ESTATE.

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The first quarter tested the resilience of the Czech industrial space market - tenants dictate conditions

The first three months on the domestic industrial space market have been tenant-driven, after the last few years, when there was a virtual lack of availability of modern warehouse and production space. In the first quarter of this year, the supply of subleases accelerated significantly: data from real estate consultancy 108 REAL ESTATE show that new contracts from January to March covered just under 92,000 sqm, a record low. However, some of the tenants rented space under subleases, which are not monitored. Meanwhile, another 1.07 million sqm of new industrial space is under construction. After turbulent times, the Czech industrial market will have the capacity for further growth.

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