Czech Residential Property Prices Continue to Rise in Q1 2026, Led by Apartments

Residential property prices in the Czech Republic continued to increase during the first quarter of 2026, although the pace of growth moderated in most segments compared to last year, according to the latest ČSOB Housing Index.

Apartment prices recorded the strongest annual growth, rising by 12.5 percent year-on-year, while family houses increased by 9.1 percent and land prices by 8 percent. The continued upward trend has been driven by limited supply and sustained buyer demand across the market.

On a quarter-on-quarter basis, apartment prices rose by 2.6 percent in Q1 2026. According to the index, apartment prices have significantly outpaced inflation over the past five years, with values increasing by nearly 50 percent compared to cumulative inflation of approximately 38 percent. However, the pace of quarterly growth has been gradually slowing for more than a year.

Regional differences remained visible across the apartment market. The strongest quarterly increases were recorded in the Zlín Region, where prices rose by 4 percent, followed by the Liberec Region, the Vysočina Region and Central Bohemia.

Prefabricated apartment buildings posted the fastest quarterly growth among housing types, with prices rising by 3.2 percent, while brick-built apartments increased by 2.3 percent. Demand continued to focus primarily on smaller units, although so-called micro-apartments, including studios and the smallest accommodation units, recorded the weakest price growth during the quarter. According to the index, investors outside Prague increasingly assessed these units based on profitability considerations.

The average sales period for apartments remained stable at approximately 4.5 months. Demand in Prague also remained strong. According to Martin Vašek, Chairman of the Board and CEO of ČSOB Hypoteční banka and ČSOB Stavební spořitelna, around 1,800 apartments were sold in Prague during the first quarter, representing an 8 percent year-on-year increase. Average apartment prices in the capital reached CZK 182,000 per square metre.

Family house prices increased by 2.1 percent quarter-on-quarter in Q1 2026. Construction activity remained concentrated mainly in the Central Bohemian Region and around Brno. Demand for houses continued to grow modestly, although older properties in poorer technical condition attracted weaker interest.

The report noted that the suspension of subsidy programmes and rising construction costs have affected buyer sentiment. Construction material prices have also been influenced by uncertainty in energy markets linked to geopolitical tensions in the Middle East. According to the index, these higher input costs are expected to contribute to further increases in new-build prices.

Land prices rose by 2.8 percent during the quarter, outperforming both apartments and houses on a quarterly basis. The market continues to face limited supply, partly due to outdated zoning plans restricting development opportunities.

Demand for plots has increasingly shifted further away from major urban centres, including areas with limited public infrastructure. The report highlighted that buyers are becoming more willing to consider alternative technological solutions, including photovoltaic systems, domestic water treatment technologies and off-grid housing solutions.

The ČSOB Housing Index showed apartment prices reaching an index value of 265.8 points in Q1 2026, based on Q1 2010 = 100. House prices reached 247.0 points, while land prices climbed to 345.0 points, underlining the long-term appreciation trend across the Czech residential market.

Source: CTK

Offshore Wind Farms Seen Coexisting with Fishing and Tourism in Poland

Industry organisations and offshore wind investors in Poland say experience from countries including Denmark, Germany and the United Kingdom shows that offshore wind farms can operate alongside fisheries and tourism without significantly reducing the attractiveness or economic activity of coastal regions.

According to representatives of the Polish wind energy sector, offshore wind farm locations in Poland are selected under the country’s maritime spatial development plan, which was developed following consultations with fisheries representatives, maritime transport authorities, the military and other sea users. Environmental impact assessments and cross-border consultations were also carried out before the adoption of the plan.

The current framework allows offshore wind farms to be located exclusively within Poland’s exclusive economic zone, with projects also subject to further environmental studies before construction permits are granted.

Industry representatives state that the positioning of offshore wind projects is intended to minimise disruption to traditional fishing areas and maritime routes. Research cited by the sector, including studies from the International Council for the Exploration of the Sea (ICES), indicates that turbine foundations can function as artificial reefs, potentially increasing local biodiversity and creating habitats for marine organisms and some fish species.

Examples from projects such as the Horns Rev offshore wind farms in Denmark are frequently referenced by the sector as evidence that long-term fishing activity can continue alongside offshore wind infrastructure.

In Poland, offshore wind developers have introduced compensation schemes for fishermen affected during construction phases. These measures are intended to address potential losses linked to temporary restrictions or increased operating costs.

Oliwia Mróz-Malik, Manager for Offshore Wind Energy, Investment and Development at Polish Wind Energy Association (PWEA), said offshore wind energy and fisheries can create a shared economic environment, adding that international experience suggests marine ecosystems around turbine foundations may support fish populations over time.

The sector also argues that offshore wind projects have not led to declines in tourism in countries where the industry is already established. Polish offshore wind farms are expected to be located at least 22 to 23 kilometres from the coastline, where turbines are typically only faintly visible from shore under favourable weather conditions.

Several community support programmes linked to offshore wind developments are also underway in Poland. In Choczewo, offshore investors including PGE Baltica, Ørsted Polska, Baltic Power and Ocean Winds are financing the “Choczewo. Wind-Powered Municipality” programme, which supports local social, educational and cultural initiatives.

Meanwhile, the “Power of the Baltic” grant programme is being implemented in Łeba, while infrastructure linked to offshore wind operations continues to develop along the Polish coast. This includes the Baltic Power service base and the offshore installation terminal in Świnoujście operated by ORLEN Group.

Michał Stachyra from the ORLEN Foundation said the organisation joined the “Sea of Wind” educational campaign to support fact-based discussion around offshore wind energy and address concerns related to tourism and fisheries.

The campaign, organised by PWEA and the ORLEN Foundation, aims to provide information on the economic, environmental and social impact of offshore wind energy projects in Poland.

Małgorzata Żmijewska-Kukiełka, spokesperson for PWEA and coordinator of the campaign, said one of the main challenges facing the sector remains public perception and misinformation surrounding offshore wind development.

Capital Park Group Begins Renovation of Historic Tenement Building in Szczecin

Capital Park Group has started construction works on the Rezydencja Aleja Fontann residential development in Szczecin, marking the beginning of the redevelopment of a historic tenement building located on Aleja Jana Pawła II near Grunwaldzki Square. Apartment sales for the project were launched on 22 May.

The investment involves the revitalisation and modernisation of a late 19th-century neo-baroque building while preserving its historic architectural features, including the façade and original staircases. The project also includes the construction of a two-level underground car park, which requires the extension of the building’s existing foundations.

Kinga Nowakowska, Board Member and COO at Capital Park Group, said the scheme is one of the company’s most technically demanding regeneration projects, combining conservation works with the creation of modern residential space. She noted that the company is drawing on experience gained from projects including the revitalisation of the former Norblin factory complex in Warsaw.

The main contractor for the development is KOMA, while structural design and engineering works are being handled by Fort Polska. Project supervision has been entrusted to Szczecin-based Ingenia-Consult.

Preparatory works currently underway include structural reinforcement, weather protection measures and continuous technical monitoring using vibration sensors and inclinometers. The construction process will also involve technologies such as jet grouting, anchoring systems and reinforced concrete strengthening works.

According to the project schedule, underground works and the foundation slab are expected to be completed by July 2027. Restoration of the façade and historic staircases is planned to begin in the second half of 2027, with the development reaching shell stage in mid-2028. Completion is scheduled for the final quarter of 2028.

The restored building will comprise 62 apartments ranging from approximately 40 sqm to 174 sqm. Some units will feature ceiling heights exceeding four metres. The development will include six above-ground floors, including two newly added upper levels designed to restore the original roofline of the building. A two-level underground garage with 60 parking spaces is also planned.

The apartments will incorporate smart home systems, heat recovery solutions and air conditioning installations in selected units. Prices are expected to start at approximately PLN 23,000 per sqm.

The architectural design has been prepared by Szczecin-based DEDECO. Piotr Hofman said the project was designed to combine modern residential standards with the preservation of the building’s historical character and proportions.

The investment is being financed through a PLN 61 million loan provided by Bank Ochrony Środowiska. According to the developer, the project qualified as a green financing transaction due to the use of energy-efficient systems and low-carbon heating solutions, including connection to a district heating network based largely on cogeneration technology.

Tatuum Relocates Logistics Operations to Marq Logistics Łódź III

Tatuum has leased approximately 18,500 sqm of warehouse and office space at Marq Logistics Łódź III in Łódź, Poland, as part of the company’s logistics expansion strategy. The transaction was advised by AXI IMMO, which represented the tenant throughout the leasing process.

The Polish fashion retailer will occupy around 17,500 sqm of warehouse space and approximately 1,000 sqm of office accommodation within the logistics park. The facility will serve as Tatuum’s central distribution warehouse, supporting the company’s omnichannel operations and further expansion across Central and Eastern Europe.

Founded in Łódź more than 25 years ago, Tatuum operates more than 140 stores across Poland, the Czech Republic, Slovakia, Hungary and Romania, while also expanding into the Baltic region. The company entered the Latvian market earlier this year with the opening of a store in Riga. According to the company, its combined physical retail and e-commerce operations currently serve customers in 30 markets.

Tomasz Dziubka, Logistics Director at Tatuum, said the relocation is intended to strengthen the company’s operational flexibility and support the continued development of its domestic and international business.

Hubert Wojtera, Director of Industrial & Logistics at AXI IMMO, said the proximity of the new logistics centre to Tatuum’s headquarters in Łódź was a key factor in the location selection process. He added that the facility was chosen to support the company’s long-term operational and expansion requirements.

Marq Logistics Łódź III is located near the A1 motorway, providing connections to major logistics and business hubs across Poland. The park offers warehouse units starting from 5,000 sqm and includes technical specifications such as a clear internal height of up to 10 metres and a dock-based loading system.

The development has been designed in line with sustainability standards and is targeting a BREEAM Very Good certification. According to the developer, the project incorporates technologies intended

REassurance Expands CEE Team with Appointment of Viktor Benedek

REassurance has appointed Viktor Benedek as part of the company’s continued expansion across Central and Eastern Europe.

Dr. Benedek joins the business with experience in title insurance and warranty and indemnity (W&I) insurance for real estate and M&A transactions, supported by more than two decades of legal and transactional work across the CEE region.

Before joining REassurance, he worked as a European Underwriting Counsel for a mono-line commercial title insurer, where he led underwriting activities in Hungary and supported transactions across several CEE markets. During this period, he was involved in property investment transactions in Hungary, Romania and Poland, while also contributing to product development and regional market expansion initiatives.

David Yearn said the appointment reflects the company’s focus on strengthening its capabilities in response to growing activity across the region, including expectations of increased market activity in Hungary.

Benedek said he was looking forward to joining the REassurance team and contributing to the company’s further development in the region.

REALOGIS Group Lets Logistics Property near Cologne to Deufol West

REALOGIS Group has arranged the letting of a logistics property in Rösrath, near Cologne, to Deufol Group. The transaction was completed by REALOGIS Immobilien Düsseldorf on behalf of Bowery Europe, a pan-European investment and asset management company.

The property, located in the Stümpen district of Rösrath in North Rhine-Westphalia, provides approximately 12,900 sqm of lettable space. This includes around 11,800 sqm of warehouse accommodation and 1,100 sqm of office space. The facility is equipped with seven level-access loading doors and four dock levellers, with clear heights ranging from five to seven metres.

Deufol West GmbH, the sole occupier of the property, is part of the Deufol Group, an international supply chain specialist operating across 13 countries. The company provides industrial packaging and logistics services, particularly for the mechanical engineering and plant construction sectors.

The logistics asset is situated on a plot of approximately 29,043 sqm and includes around 100 car parking spaces. Originally constructed in 1972, the property was extended in 2007 and underwent extensive refurbishment during 2025 and 2026. Modernisation works included upgrades to office and warehouse areas as well as the renewal of technical building systems.

Rösrath, located in the Rheinisch-Bergisch district, borders the Cologne metropolitan area and benefits from direct access to the A3, A4 and A59 motorways. The location provides connections to Cologne, Bonn and Leverkusen, while Cologne/Bonn Airport can be reached in around 12 minutes by car.

Manova Partners Expands CEE Investment Activity with Focus on Poland

Manova Partners is continuing to expand its investment activity across Central and Eastern Europe, with Poland identified as a key market within its regional strategy. The real estate investment manager currently oversees assets in the region valued at more than €1.4 billion, with the majority located in Poland and the Czech Republic.

According to the company, more than €800 million of its CEE portfolio is invested in Poland, while approximately €400 million is allocated to the Czech Republic. The remaining assets are located in Hungary and Romania. Manova’s portfolio is focused primarily on office and logistics properties in established urban markets and regional economic centres.

The company has operated in Central and Eastern Europe for more than 20 years, having entered the Polish market in 2004. Since then, it has gradually expanded its presence across the region.

Manova’s Polish portfolio currently comprises more than 600,000 sqm of office and logistics space across 19 assets. In the Czech Republic, the company owns approximately 125,000 sqm of office space across three properties in Prague.

Katarina Horvathova, Head of Transactions CEE and Country Head Czech Republic at Manova Partners, said Poland continues to offer attractive opportunities within the region due to its market scale, economic outlook and yield profile, particularly in the logistics sector and in centrally located office properties.

Lukasz Pawikowski, Associate Director and Head of Asset Management CEE & Nordics at Manova Partners, said the company’s local asset management teams and tenant relationships allow it to respond quickly to changing market conditions. According to the company, its portfolio occupancy rate across the CEE region currently stands at around 96 percent.

Manova said Poland remains an important growth market due to its economic performance, infrastructure investment and continued occupier demand for modern office and logistics space. The company also noted that it continues to monitor investment opportunities in other regional markets including Romania, Hungary and Slovakia.

The company said institutional investors, including pension funds and insurance companies, continue to view CEE real estate as a source of long-term diversification and income, supported by comparatively higher yields and improving economic fundamentals across the region.

BIG Dzierżoniów Opens Retail Park in Lower Silesia

Developed by Redkom Development, BIG Dzierżoniów officially opened on May 21, attracting visitors from the city and surrounding towns across the region.

The retail park is located on Batalionów Chłopskich Street in Dzierżoniów, adjacent to the Silesiana roundabout. The scheme benefits from direct access to the DW384 regional road linking Dzierżoniów and Bielawa.

Offering nearly 17,000 sqm of gross leasable area (GLA), BIG Dzierżoniów comprises more than 30 retail units across fashion, grocery, health and beauty, electronics, homeware and services.

Lidl serves as the grocery anchor tenant, while the fashion segment includes brands such as CCC, HalfPrice, Reserved, Cropp, House, Sinsay, New Yorker, Diverse, Big Star and Ochnik.

The tenant mix also includes Rossmann, RTV Euro AGD and Douglas, alongside operators such as Pepco, Martes Sport, Apart, Koku Sushi and Tauron, which is expected to open a customer service point at the scheme.

The commercialisation process for BIG Dzierżoniów was handled by Mallson Polska. The project was delivered by Trasko Invest as general contractor, based on a design prepared by ALFA Pracownia Projektowa.

BIG Dzierżoniów is the first of five retail park projects planned by Redkom Development for delivery in 2026. The developer is also preparing to open Comfy Park Bydgoszcz on May 27, a project being developed in partnership with Newgate Investment.

Located on the site of the former Carrefour Glinki store, Comfy Park Bydgoszcz will provide 16,000 sqm of GLA in its first phase, with additional expansion planned.

Further projects under development by Redkom include Świderek in Otwock, a mixed recreation and retail scheme in Lublin, and a retail park project in Białystok.

HIH Invest Sells Dresden Office Property to SK Group

HIH Invest has sold an office property in Dresden’s Waldschlösschen district to SK Group in an asset deal transaction.

The office complex, located at Am Waldschlösschen 2 and 4/Am Brauhaus 5 in the Radeberger Vorstadt district of Dresden, had been held in a fund managed by HIH Invest since 2020. Constructed in 1996, the five-storey property is arranged around three landscaped courtyards and is almost fully let.

The building provides 12,769 sqm of lettable office space alongside 252 underground parking spaces. The multi-tenant asset benefits from its location near Dresden’s Neustadt district, with access to the city centre and regional transport connections via the B6 highway.

“We successfully placed this attractive building complex on the market for our investors at a competitive price,” said Daniel Asmus, Head of Transaction Management Office Germany at HIH Invest. “The location offers an established, quiet, yet very well-connected working environment. Public transport and shops for daily needs are within easy walking distance.”

The sales process was handled by Colliers in Dresden, while Ashurst LLP in Frankfurt am Main advised the seller on legal and tax matters.

Walter Herz Strengthens Tenant Representation Team with Appointment of Zlatina Mikołajczyk

Walter Herz has expanded its office tenant advisory team in Warsaw with the appointment of Zlatina Mikołajczyk as Associate Director in the Tenant Representation department.

In her new role, Zlatina Mikołajczyk will be responsible for office relocation and lease renegotiation projects, representing clients during lease negotiations and coordinating leasing processes managed by the company.

Mikołajczyk brings more than 15 years of experience across Poland and Central and Eastern Europe. Her background includes advising international companies entering the Polish market, with a focus on businesses from Asia.

During her career, she has supported Korean banks, engineering companies and state-owned enterprises expanding into Poland. She has also advised Japanese companies operating in the electronics and financial sectors, as well as a Chinese company active in electromobility. In addition, she worked on the introduction of BLD, a company owned by Bulgarian holding AG Capital, to the Polish market.

Her experience also includes developing sales processes, client acquisition strategies and projects related to business expansion across Central and Eastern Europe.

Before joining Walter Herz, Mikołajczyk worked with organisations including ITRA Polska, ForLogistic, EuropaProperty.com and Investment Environments. She also worked at the Trade and Investment Section of the Embassy of the Republic of Poland in Sofia, supporting Polish companies expanding into Bulgaria and coordinating trade missions.

“Developing our Tenant Representation expertise remains one of our strategic priorities. Zlatina’s appointment strengthens our capabilities in servicing international clients carrying out expansion and relocation projects in Poland. Her experience in working with foreign investors, combined with her understanding of the specific characteristics of the CEE and Asian markets, represents significant value for our clients and for the company’s further growth,” said Magdalena Zagrodnik.

“Polish office market remains an attractive destination for international companies seeking a stable and promising environment for business growth. Joining the Walter Herz team gives me the opportunity to further support clients in projects related to expansion, relocation, and office space optimization. I am pleased to develop these competencies within an organization with such a strong market position and a partnership-based approach to business,” said Zlatina Mikołajczyk.

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