Regional office markets showing signs of recovery

According to the latest study by CB Richard Ellis, both Brno and Ostrava slowed down considerably with regards to office development and demand in the past year and a half. In 2010, only one office project was completed – CTPark Brno Honeywell Office Campus in Brno. The only other office scheme expected for 2010 is Palac Magnum in Brno, due to be completed in July.

However, as commented by Jan Lovetinsky, the Head of Agency in CB Richard Ellis, 2010 is already showing signs of renewed activity: “We can see that interest is returning to the regions, which is reflected by a number of larger deals signed in the last two quarters. Also, resumed development activity in Nova Karolina in Ostrava can be viewed as a positive sign.”