Travel activity among Slovaks rebounded in 2024, but still below pre-pandemic levels

Nearly 3 million Slovaks took at least one personal trip with an overnight stay in 2024, marking an 11% increase compared to the previous year. Despite this growth, travel numbers still fell short of pre-pandemic levels, with around 430,000 fewer vacationers than in 2019.

According to data published by the Statistical Office of the Slovak Republic, 65% of the population aged 15 and over participated in leisure travel either within Slovakia, abroad, or both. While domestic travel remained the most common, the most significant growth was observed among those who combined domestic and international trips. This group increased by 23% year-on-year to 1.16 million people. Travelers who chose only international destinations also grew by 13%, totaling 602,000.

Travel within Slovakia alone saw only a slight increase of 0.3%, reaching 1.22 million individuals. Nevertheless, this segment remained the largest, accounting for 41% of all travelers. Those combining domestic and international travel followed closely at 39%, while 20% traveled exclusively abroad.

In total, nearly 1.8 million Slovaks traveled abroad in 2024, either exclusively or in combination with domestic trips. This figure represented a 19% increase from the previous year, yet remained 11% below the 2019 peak, when almost 2 million residents traveled internationally.

The data also highlight the lingering impact of the pandemic on travel habits. The group of travelers combining domestic and foreign trips, which had dropped by 84% during the height of Covid-related restrictions in 2020, has now recovered to over 1 million but still trails 2019 levels by nearly 20%.

Meanwhile, approximately 1.6 million Slovaks over 15 did not travel for recreation in 2024. Although this figure improved from the previous year by 290,000, it remains nearly half a million above pre-pandemic levels. The main reasons cited for not traveling were financial constraints, health issues, and lack of motivation.

The Statistical Office’s findings offer a comprehensive view of Slovak citizens’ travel behavior, underlining both the recovery of outbound tourism and the ongoing challenges faced by segments of the population in returning to pre-pandemic travel activity.

Source: SK Statistical Office

Labour demand in Poland declined in 2024 despite rise in job creation and liquidations

Statistics Poland has released its annual report on the labour market, showing a complex picture of employment trends for 2024. While both the number of occupied and vacant jobs declined compared to 2023, there was a notable increase in job turnover, with more positions created and liquidated during the year.

According to the “Labour Demand in 2024” report, the average number of occupied jobs fell to 12.3 million, a decrease of 1.3% year-on-year. Similarly, job vacancies dropped to 107,000, down 2.1 thousand from the previous year. The job vacancy rate also slipped slightly from 0.87% to 0.86%.

The industry sector continued to dominate both employment and job vacancies. It accounted for over 25% of occupied jobs and nearly 23% of all job openings, with large enterprises (50+ employees) responsible for the bulk of hiring. The professional occupational group remained the largest segment of both filled and unfilled roles, representing around one-quarter of all positions.

Interestingly, job creation surged to 465,100 in 2024, up 6% from 2023, while liquidated jobs rose by 2.6% to 259,000. This resulted in a net gain of 206,100 jobs, maintaining a positive trend seen since 2015. For every job eliminated, 1.8 new ones were created.

The retail and motor vehicle repair sector led in job creation, with 90,100 new roles—an increase of more than 20% from the year before. In contrast, the accommodation and food service sector saw the sharpest decline in new job creation, falling by 16.6%.

On the regional level, the job vacancy rate varied significantly, ranging from 0.44% in the Świętokrzyskie region to 1.07% in Dolnośląskie and the Warsaw metropolitan region. Among sectors, construction and information and communication showed the highest vacancy rates at 1.85% and 1.50%, respectively.

The report was compiled by the Statistical Office in Bydgoszcz and reflects data collected quarterly throughout the year. It provides valuable insights for policymakers and businesses, highlighting ongoing labour shortages in key sectors despite overall employment softness.

Retail sales in Poland increase by 4.4% year-on-year in May 2025

According to data released by Statistics Poland, retail sales at constant prices rose by 4.4% in May 2025 compared to the same month in 2024. However, on a monthly basis, retail sales declined by 3.2% compared to April 2025. Seasonally adjusted data showed a year-on-year increase of 2.9%, and a month-on-month decrease of 2.0%.

Over the January–May 2025 period, retail sales were up by 3.5% year-on-year, which marks a slowdown from the 5.5% growth recorded during the same period in 2024.

Several categories contributed significantly to the annual increase in May. Sales of furniture, radio, TV and household appliances grew by 18.9%, while motor vehicles, motorcycles, and parts rose by 15.7%. Pharmaceuticals, cosmetics, and orthopaedic equipment posted a 6.0% increase. Fuel sales grew by 4.9%, and food, beverages, and tobacco products edged up by 1.5%. On the other hand, the “other” category recorded a 10.8% decline.

Online retail sales also grew, with the value at current prices rising by 6.2% compared to May 2024. The share of e-commerce in total retail sales increased slightly from 8.6% to 8.8%. Notable increases were seen in online sales of textiles, clothing, and footwear (up from 22.5% to 23.7%), and furniture, radio, TV, and household appliances (up from 16.4% to 17.3%). However, online sales of newspapers, books, and other specialized store goods fell in share from 22.3% to 19.2%.

The strongest growth since the beginning of the year was recorded in the “furniture, radio, TV and household appliances” category. In terms of sales at current prices, food, beverages, and tobacco products had the highest share of total retail sales at 26.1%, followed by fuels at 13.0%, and motor vehicles and parts at 8.4%.

The report also highlighted the availability of supplementary data through Statistics Poland’s databases, providing detailed breakdowns by type of activity in line with European statistical standards.

Source: Statistics Poland

Jan Krajča appointed Director of Project Department at Geosan Development

Geosan Development, a residential construction company active in Prague and surrounding areas, has appointed Jan Krajča (50) as Director of its newly established Project Department. In his new role, he will oversee the full scope of project preparation and execution, from spatial planning through to final delivery.

His responsibilities include overseeing land-use planning, managing technical and contractual matters throughout the construction process, ensuring contractor compliance with contractual terms and budgetary controls, and coordinating the handover of completed buildings and residential units to new owners.

Jan Krajča brings more than 25 years of experience in project management and development. A graduate of the Faculty of Civil Engineering at the Czech Technical University in Prague, where he specialised in Building Construction and Architecture, he has held senior roles at companies including MS development/MSG holding, SPGroup, and Palladio Progetti. His work has involved managing large-scale residential and commercial projects from early planning stages to completion.

Commenting on his appointment, Jan Krajča said he is looking forward to contributing his technical and strategic experience to support the continued quality and efficiency of Geosan Development’s projects. He sees the role as an opportunity to be involved in construction that not only delivers quality housing but also respects the needs of local communities and the urban environment.

Outside of work, Krajča pursues interests in sport, travel, and technical diving in both open water and cave environments.

New tenant signs lease at Skylight City in Budapest

A multinational company specializing in health-focused dietary supplements has signed a lease for approximately 900 square metres of office space at Skylight City in Budapest. This will serve as the company’s first headquarters in Hungary, expanding its presence beyond its existing operations in the Czech Republic and Poland.

The leased space will be used as a multifunctional office, accommodating daily business operations as well as events, training sessions, and conferences for up to 190 participants. Key factors in the selection of the location included flexible layout options and accessibility.

Skylight City, developed by WING Ltd., has a BREEAM In-Use ‘Very Good’ sustainability rating and offers a combination of office and commercial space. The building, originally developed for commercial use, features a central atrium with natural light, service areas, and good transport links. It is situated on Róbert Károly Boulevard near Árpád Bridge, close to the Váci Road office corridor.

The tenant was advised by Citireal during the leasing process.

International Campus acquires student housing project in Rotterdam

International Campus Group has acquired Project Fascinatio, a purpose-built student accommodation (PBSA) development located in Capelle aan den IJssel, near Rotterdam. The project includes 342 self-contained apartments and a range of shared amenities, positioned just five minutes from Erasmus University.

The development will offer a gross floor area of approximately 11,150 square metres, with about 6,930 square metres of lettable space. Designed with sustainability in mind, the building has been awarded an A++ energy label. Construction is scheduled to begin at the end of August 2025, with completion expected by summer 2027. The contractor for the project is Waal.

In addition to private living units, the complex will include a gym, communal kitchen, study and recreation areas, laundry facilities, and a rooftop terrace. The concept and design were developed by a joint venture comprising Groep Caenen Capital Fund, White House Development, and ROM.

This acquisition marks International Campus Group’s third student housing project in the Netherlands. According to Jasper Boot, responsible for acquisitions and development in the country, the project aligns with the company’s focus on sustainable, community-oriented housing for students.

CEO Gawain Smart noted that the transaction supports the company’s broader strategy of securing key PBSA assets across the Netherlands and continental Europe.

International Campus was advised by Greenberg Traurig (legal), EY (tax and financial), and CVO (technical). Debt financing was provided by NIBC Bank.

Poland: What can buyers afford after interest rate cuts?

What is the maximum budget most buyers are working with when looking for a flat? Where does the credit limit typically fall for the largest group of buyers, and how has this threshold shifted following recent interest rate cuts? What types of flats are available within this price range, and in which neighbourhoods can they be found?

Andrzej Biedronka-Tetla, CFO and member of the management board at Atal
Analysing this year’s transactions, the ceiling is around PLN 700,000. For this price, our customers can even buy apartments with the option of finishing, for which we currently have a very good offer. The size and number of rooms depends on the location and will vary from region to region.
Currently, properties with an area of 60 sq m and above account for about half of all transactions. Therefore, we do not see any particular advantage in any of the categories. Both small units and apartments worth well over PLN 1 million are popular with customers.

The reduction in interest rates will slightly improve customers’ creditworthiness and, in time, will also have a real impact on reducing loan instalments. At present, the attractiveness of new banking products is still being undermined by other parameters, including high margins.

Tomasz Kaleta, Managing Director for Sales and Marketing at Develia
The most popular are flats in the PLN 500,000-600,000 price range. Depending on the city and real prices on a given market, the share of enquiries for such properties ranges from 25 per cent in Warsaw to as much as 50 per cent in Poznań. Properties in this price range can be found in virtually all of our developments.
The purchasing power of customers using credit is limited primarily by their income and interest rates. The May interest rate cut increased buyers’ creditworthiness by about 10%. It is worth noting that both first-time buyers and customers with a stable financial situation who are buying larger properties are opting for loans.

Barbara Marona, Sales Office Manager Kraków, Matexi Polska
In Krakow, the largest group of buyers are looking for flats in the price range of PLN 700,000 to PLN 900,000. For singles earning around the average salary for Krakow, with a 30-year loan and a 20% down payment, the creditworthiness ranges from approximately PLN 590,000 to PLN 640,000. For couples with one child, where both partners earn around the average salary for Krakow, the maximum creditworthiness under the same assumptions is approximately PLN 1,100,000 – PLN 1,200,000.

We offer flats that fall within the above price ranges, e.g. in the Do Wilgi development, where 40 m² two-room flats can be purchased from PLN 670,000 and are most often chosen by singles or couples buying their first home. In the development on Lirników Street, small two-room flats with an area of 35 sq m are priced from PLN 618,000.

In the case of three-room flats, prices start at PLN 778,000 in the Kameralny Prokocim development, through approximately PLN 820,000 in the Do Wilgi project and PLN 900,000 in the Takt Lirników estate, reaching as much as PLN 1,500,000 in the Apartamenty Portowa project in Krakow’s Zabłocie district.

Katarzyna Kwiatkowska, Sales Office Manager Warsaw, Matexi Polska
The largest group interested in purchasing flats in Warsaw is looking for offers in the range of PLN 700,000 – PLN 900,000 for singles or couples, and for families with children, this amount averages around PLN 1,000,000 – PLN 1,200,000. Under current credit conditions, a single person earning around PLN 7,200 net can obtain a mortgage of around PLN 550,000, while a family with two children earning approximately PLN 14,000 net can apply for a loan of PLN 1,100,000, in both cases assuming a 20% down payment. After the interest rate cut, the maximum loan amount under the above assumptions increased by approximately 15%.

We have properties that meet these expectations. For example, the XYZ Place development on Żwirki i Wigury Street offers one- and two-room flats ranging in size from approx. 31 sq. m to 39 sq. m, priced from PLN 560,000 to PLN 870,000. Similarly, in the Splot Wola development on Sowińskiego Street, customers can choose from two-room flats ranging in size from 37 sqm to 43 sqm, with prices ranging from PLN 798,000 to PLN 893,000. The Na Okrzei development, located in the atmospheric surroundings of Praga Północ, offers apartments with an area of 35 sq. m. at prices ranging from PLN 808,000 to PLN 850,000.

Agnieszka Gajdzik-Wilgos, Sales Manager, Ronson Development
The largest group of our customers in major cities are looking for flats in the price range of up to approximately PLN 650,000-700,000. This is the most common level of purchase expectations, which results from both the financial capabilities of buyers and current market conditions. At the same time, we note that the real creditworthiness of many customers ends at around PLN 500,000–560,000.

Wojciech Wilhelm Zhang-Czabanowski, President of the Management Board, Waryński S.A. Holding Group
Our observations and market analyses show that the largest group of apartment buyers in major cities are looking for properties in the PLN 600,000–750,000 price range. This is the range that corresponds to the average creditworthiness of a household, in particular a couple with a net monthly income of around PLN 10,000.

The creditworthiness limit for most individual customers is currently PLN 750,000–800,000. Above this amount, there is a noticeable increase in the number of rejected loan applications or decisions to withdraw from the purchase due to excessively high monthly instalments or the need to make a higher down payment.

Joanna Chojecka, Sales and Marketing Director for Warsaw and Wrocław at the Robyg Group
Our observations and market analyses show that the largest group of buyers in major cities, including Warsaw, are looking for flats in the price range of up to approximately PLN 700,000–800,000. This is the threshold at which the creditworthiness of many buyers, especially singles and young families, often ends. It is in this segment that the greatest demand and the largest number of enquiries are concentrated.

In recent years, restrictions on the availability of credit have significantly affected customers’ purchasing power. Their choices have been more cautious. Not only the size and location were important, but also the availability of financing and the total cost of the investment. Recent interest rate cuts and the stabilisation of the credit market have improved the situation for many people, increasing their creditworthiness and restoring the real possibility of purchasing a flat.

For up to PLN 800,000, we offer flats in the Początek Piątkowo project in Poznań and the Foresteria investment in Gdynia. In Gdańsk, properties within this price range are available in the Nadmotławie, Porto and Szumilas estates. In Wrocław, we offer properties in the Port Popowice, Apartamenty Krakowska and Przystanek Tarnogaj projects. In Warsaw, they can be purchased in Sady Ursynów, the Metro Life, Royal Residence, Modern City and Rytm Mokotowa developments.

Michał Witkowski, Sales Director at Lokum Deweloper
Most customers interested in our offer are looking for properties priced up to PLN 600,000. It is worth noting that this amount does not so much reflect their actual housing needs as it results from their limited creditworthiness, which determines the real level of their purchasing power. Initially, the May interest rate cut did not translate into higher creditworthiness, as some banks responded to the MPC’s decision by raising margins on new loans. Thus, the creditworthiness of potential buyers remained virtually unchanged.
We currently offer flats in three developments in Wrocław for up to PLN 600,000. These are flats in the Lokum Porto estate in the Old Town, in the Lokum la Vida estate under construction in Sołtysowice and in the completed Lokum Verde development in Zakrzów.

Damian Tomasik, President of the Management Board of Alter Investment
We have observed that the largest group of buyers in major cities are looking for flats in the price range of up to approximately PLN 600,000-700,000, which corresponds to the current creditworthiness of most of our customers. The reduction in interest rates has slightly improved the availability of financing, but has not radically shifted this threshold – the greatest demand is still concentrated on two- and three-room flats with an area of 40 to 60 sq m. Such flats are available, among others, in our projects in Gdańsk at Madalińskiego Street, Warszawska Street and Trakt Świętego Wojciecha. These are offers for singles, young families and people looking for an attractive investment for rent.

Marcin Malka, President of the Management Board of Real Management S.A.
Some of our customers buy houses, usually obtaining financing of around 50% of the property value. The price of a house at around PLN 4 million is definitely a clear threshold limiting the financial capabilities of customers. Above this amount, the number of potential buyers narrows, which is why we make every effort to ensure that our Neo Natolin homes are unique in terms of location, urban planning, architecture and space layout. We want to meet the expectations of demanding customers in the luxury segment.

Mariusz Gajżewski, Head of Sales, Marketing and Communication, BPI Real Estate Poland
Our customers are mainly people who do not use credit when buying a flat or only use additional financing to a limited extent, for whom creditworthiness is not an issue when choosing flats from our offer.

Source: dompress.pl
Photo: Sady Zoliborz, Matexi

CEVA Logistics introduces STRADOT robots at French vehicle logistics centre

CEVA Logistics has signed a long-term partnership with STRADOT to integrate autonomous transport robots into operations at its finished vehicle logistics (FVL) centre in Nanteuil-le-Haudouin, France. Beginning in September, two STRADOT robots will manage vehicle movements within a dedicated 2,000-space section of the site, which has a total capacity of 8,000 spaces.

The robots will support vehicle reception and dispatch operations by transporting cars from the reception zone to parking spaces and arranging them for loading onto transporters. Designed to operate autonomously within a secured yard, the robots will carry out several thousand vehicle movements each month. They are capable of lifting vehicles for transport and navigating between tightly parked cars, allowing for more efficient use of space by reducing the need for manoeuvring areas and lane markings.

The collaboration with STRADOT follows a successful pilot conducted in May 2024 at CEVA’s FVL platform in Loyette. The test phase demonstrated improved traffic flow, increased yard capacity, and more efficient vehicle handling. In addition to operational benefits, the use of electric robots is expected to help reduce the site’s environmental impact.

CEVA Logistics has emphasised that the introduction of robotic solutions is part of its broader strategy to enhance efficiency and integrate new technologies across its operations. According to Thomas Maître, Head of Product Development for Finished Vehicle Logistics at CEVA, the adoption of robotic systems reflects the company’s focus on continuous improvement in automotive logistics.

STRADOT CEO and co-founder José Iriarte noted that the partnership offers a practical demonstration of how robotics can enhance logistics performance, particularly in vehicle storage and movement. The project is expected to contribute to CEVA’s long-term capability to support customers through increased automation and smarter space utilisation.

Construction begins on Bydlení Šumavská residential project in Plzeň

Construction has officially begun on the Bydlení Šumavská residential development in Plzeň. The project, a collaboration between Raiffeisen – Leasing and the LIF GROUP investment group, will deliver 136 residential units of various sizes, from 1+kk to 4+kk, as well as commercial and non-residential spaces. The design prioritises sustainability and energy efficiency, with all buildings planned to meet energy class A standards, which aim to reduce both environmental impact and household operating costs.

Located near the historic district court building and within walking distance of Plzeň’s main railway station and new bus terminal, the development makes use of previously unused land in a well-connected area with full civic amenities. The project had been in preparation for an extended period, and its launch marks the resolution of the necessary permitting processes.

Construction is scheduled for completion in the summer of 2027, with apartment handovers expected by the end of that year. The development will include parking spaces, storage rooms, balconies and terraces with garden access. It will also accommodate commercial units for local business use.

The surrounding area offers a full range of urban infrastructure, including retail, cafés, restaurants, parks, and sports facilities. The project is designed to provide residents with convenient urban living while incorporating sustainable building standards and thoughtful urban planning. It reflects ongoing efforts to combine residential development with environmental considerations in a central urban setting.

PSN reports record sales in 2024 and expands real estate activities across the Czech Republic

Despite persistent challenges such as elevated interest rates and continued property price growth, PSN achieved its strongest performance to date in 2024, selling a total of 285 residential and non-residential units. This marked an increase of nearly 40% over the previous year. In addition to individual unit sales, PSN also sold seven entire buildings and concluded or extended 670 lease agreements, contributing to a total turnover of more than CZK 2.2 billion.

The company’s portfolio of activities currently includes both the renovation of apartment buildings and the development of new construction projects in Prague and Brno. PSN also made its first move into the mountain real estate segment last year and aims to launch several new developments in 2025, particularly in Prague’s districts 3 and 10. In total, the company signed six acquisition contracts in 2024, including two land plots intended for residential development. Over the next three years, PSN plans to invest CZK 4 billion in new projects.

According to PSN Managing Director Max Skala, the market experienced a shift in buyer behaviour during 2024, as clients became more willing to move forward with purchases despite higher borrowing costs. He noted that the limited supply of housing, driven by complex permitting procedures, continues to support rising property prices, especially in Prague. Skala attributed PSN’s record-breaking sales to a combination of strategic locations, enhanced project design, and long-term investment in quality improvements.

The company observed sustained demand for smaller units, such as 1+kk and 2+kk layouts, commonly used for starter homes or investment purposes. At the same time, interest in larger units—ranging from 3+kk to 5+kk and priced between CZK 10 and 20 million—increased significantly. According to Jaroslav Macháč, Director of Residential Projects, average property prices rose by approximately 10% year-on-year in 2024, reaching new highs. This upward trend has continued into 2025.

Throughout 2024, PSN initiated six renovation projects in Prague districts 2, 3, 5, and 6, totalling about 10,000 square metres. These included developments such as Vinohradská 160 and Jeseniova in Žižkov, both of which incorporate landscaped courtyards and common areas. In Smíchov, the company is modernising a neoclassical building as part of the Pecháčkova project, which includes residential and non-residential units.

Outside Prague, PSN is progressing with the Brno Jedna project, which will bring 188 residential and accommodation units, along with commercial spaces, to a former industrial site. In Pardubice, the company is restoring the Grand building, originally designed by Josef Gočár, into a modern shopping centre. Completion is expected in autumn 2025. In Špindlerův Mlýn, PSN has entered the mountain real estate market with the Slunečný svah project, which repurposes a former guesthouse into premium apartments with shared amenities.

The rental market also remained a key area of activity for PSN in 2024. The company signed 456 new lease agreements and extended 214, exceeding the previous year’s figures. Helena Hyánková, Deputy Director of Commercial Projects, noted that demand for rental apartments in Prague continues to outpace supply, and rents are expected to rise further in 2025. She highlighted the popularity of renovated properties with added features such as common areas or gardens, aligning with PSN’s ongoing strategy.

Looking ahead, PSN expects gradual growth in the real estate sector in 2025, particularly in Prague and Brno. According to Development Director Štěpán Smrčka, key market conditions—including stable interest rates, buyer demand, limited new supply, and steady construction costs—support this outlook. The company has already launched several initiatives, including the Jitro residential project in Prague 10 with 180 units, and will soon complete the 38-unit Rezidence Maroldka in Prague 4. Additional plans include the renovation of a former telecommunications building in Prague 3 and multiple smaller buildings across central Prague.

PSN’s acquisitions director Pavel Citta confirmed that the company’s investment appetite remains strong following last year’s performance. In addition to Prague, PSN is targeting opportunities in Brno, Pardubice, Hradec Králové, and select mountain regions as it looks to diversify and expand its holdings.

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