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News

Research

Savills: office supply to shortly bounce back in Warsaw

"The Warsaw office market is seeing signs of upcoming renewed development activity, says real estate advisory firm Savills. Three new office buildings were delivered in the first half of 2023, but a significant increase in new supply is not expected until 2025."

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News

Industrial and Logistics

Manufacturing industry and renewable energy driving warehouse demand in the Czech Republic

"Since the second half of 2022, Savills has seen an increase in demand from manufacturing companies for modern warehouse space in the Czech Republic, accounting for 57% of the total space leased in the first quarter of 2023. One of the reasons why demand from this sector is growing is "nearshoring", i.e. the shift of production from Asia back to Europe. During Covid-19, demand was significantly driven by the e-commerce sector, which at its peak in Q3 2021, accounted for up to 62%. However, over the last three quarters, e-commerce activity has declined significantly and, as of Q1 2023, is now at 6%. Given uncertainty energy supply and costs, and thanks to government support of renewable energy, demand from this sector is also growing significantly, says Savills."

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