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Central Europe industrial real estate market accelerates

New industrial units in Central Europe are being developed at twice the rate of last year. More than 500,000 sq m of units were built (last year: 260,000 sq m) and almost two million sq m of industrial property was leased in H1 2014. As a result, the vacancy rate has dropped on average below 10 per cent, according to Cushman & Wakefield’s CE Industrial team.“The take-up of new space is so high that almost all stock is leased before the actual development starts. As a result, speculative development is almost non-existent today. This trend is seen mostly in Poland and in the Czech Republic. Take-up is driven primarily by the automotive industry, but the role of online retailers is gaining in importance,” says Ferdinand Hlobil, Head of...[…]
Photos: Cushman & Wakefield