Do developers offer turnkey flat finishing? Costs and popularity among buyers

Are developers providing turnkey finishing for flats? What are the costs involved, and how many buyers are opting for this option? These questions are addressed in the latest press release, which offers valuable insights into the current trends in the real estate market.

Marta Buczma, director of the customer relations department at Develia:
In terms of finishing and interior design, we cooperate with two renowned architectural studios: Deer Design in Warsaw, Krakow and Katowice and KODO in Wrocław and Gdańsk. Our clients can take advantage of comprehensive turnkey services or realise an individual arrangement project tailored to their needs. The partners we work with offer a variety of finishing packages in different standards and price ranges.

Although we are seeing increasing buyer interest in finishing packages, the developer standard is still the dominant choice. The turnkey service is more often of interest to customers buying flats for investment purposes, for reasons such as convenience, the desire to set a specific budget, or the possibility of receiving a guarantee of meeting the completion deadline. The high cost of renovation services also makes people buying flats for their own needs increasingly opt for professional finishing of the premises.

Agnieszka Majkusiak, Sales Director of Atal:
We offer our customers the Atal Design finishing programme, which is our significant competitive advantage. The percentage of buyers who take advantage of our finishing programme depends on the location, the prestige and character of a given investment and the profile of the target group. Generally, this share is increasing, and on average it is now one in three buyers. It is more often investment clients who opt for the turnkey formula, but it is also increasingly popular among people buying a flat for their own needs.

The Atal Design programme includes three basic packages, viz: Basic, Optimum and Premium. The cheapest package costs PLN 1199 per square metre of flat; the most expensive PLN 1699. In October 2024, we introduced a new Invest package, priced at PLN 999 per sqm. We have developed it for customers for whom the priority is to finish the flat as soon as possible.

Our current analyses show that around half of customers choose the most expensive Premium option. The Basic version is the second most popular. The Invest package, as a novelty, may only be gaining in popularity.

Dawid Wrona, Chief Operating Officer at Archicom:
We strive to offer comprehensive support, both to potential buyers before they make a purchase decision and to the residents of our investments, also for many years after the keys have been handed over to them. That is why we help with formalities related to obtaining financing for the purchase of a property, insurance of a flat, but also its arrangement.

Archicom’s Turnkey service is mainly aimed at people who are particularly keen to save time and avoid the potential stress of coordinating the work of finishing teams. Its cost depends on the scope of cooperation, with the range starting from PLN 990 per sq m of a flat.

Mariusz Jędrzejczak, director of after-sales and commercialisation services at Lokum Deweloper:
Each of our customers can take advantage of the Lokum turnkey programme. In recent years, this option has been chosen by around 25 per cent of flat buyers, of which 4 per cent are buyers of investment units for rent. The average cost of finishing a flat that our buyers decide on today is around PLN 1,500/m². Customers who have taken advantage of our turnkey programme point to the two-year guarantee, time savings, individual approach to each project, architect’s care and a proven team of professionals supervising and carrying out the finishing work as its main advantages.

As part of the programme, they can furnish their property in one of the three standards we have prepared or choose an individual design. The packages on offer differ primarily in the range of finishing materials and furnishings. Regardless of the standard chosen, each customer can count on full support from a designer, high-quality materials and workmanship, warranty service and a saving of 8 per cent VAT, which at current prices is a really real reduction in expenses.

Adrian Sączek, Director of the Developer Sales Department at the Mint of Poland (Bulwary Praskie investment):
A few years ago we started cooperation with the KODO company, which has a lot of experience in the market of flat finishing. We have a showroom in the sales office, where the client can meet with an architect or advisor, learn about the full offer and contract the finishing touches even at the construction stage. This guarantees that the customer can move in on time, with virtually no involvement in the coordination of individual contractors such as tile setters, flooring specialists or carpenters. Finishing prices start at PLN 1299 per square metre, and the client has access to expert advice and a full range of materials.

Agnieszka Gajdzik-Wilgos, Sales Manager, Ronson Development:
We offer a wide range of turnkey flat finishes, tailored to the clients’ various needs and budgets. Prices of finishing start from about PLN 1,300/sqm and include a comprehensive service, including designs with visualisations, selection of materials with the help of an architect, supervision of the implementation and cleaning after completion. Customers can choose from a variety of finishing styles: Classic, Modern and Natural Living, available in five price levels (Optimal, Optimal+, Standard, Standard+, Exclusive), as well as two additional options: Economy Package and Individual Design.

The popularity of turnkey flats is high, especially for the convenience and possibility to move in immediately. Flats with a quick delivery date are attractive to customers and are eagerly booked, finished flats and show homes are often sold as early as the design stage, demonstrating the strong customer interest in such a solution.

Shraga Weisman, CEO of Aurec Home:
In all our developments, we offer customers the option of a turnkey finish. We notice that the percentage of buyers who decide to purchase a flat in this form is steadily increasing. The finishing packages are used, both by people buying an apartment for rent and for their own residential purposes. This is very convenient, especially for investors and busy owners. Supervision over the course and quality of finishing work lies with the Home Planer studio, which comprehensively finishes the interiors in all our investments.

Marcin Michalec, Managing Director, Okam Capital:
Responding to the needs of our customers, we have started cooperation with architectural studios specialising in complex interior finishing. Our clients in Katowice are served by Rednet DOM, which specialises in comprehensive interior finishing. Thanks to this cooperation, clients can benefit from a wide range of professional finishing services tailored to individual needs and preferences.

In Warsaw and Łódź, our clients can use the services of KODO Projekty i Realizacje Wnętrz studio, which has been specialising in comprehensive turnkey flat finishing for 14 years. KODO offers a full range of services, from design through supervision of execution to warranty service. Each project is tailored to the investors’ individual needs and the whole process requires only their minimal involvement. As a result, the buyer receives a fully finished, ready-to-live-in interior.

Joanna Chojecka, sales and marketing director for Warsaw and Wrocław at Robyg Group:
We cooperate with five renowned companies that deal with interior design and comprehensive finishing. By choosing to cooperate with one of them, you can save time and money when finishing the purchased premises. By using the services of a turnkey finishing company, you also benefit from a lower 8 per cent VAT tax. The completed work is covered by a guarantee and in the event of an unexpected defect, you can count on quick assistance.

Turnkey finishing is a comprehensive service including: arrangement with visualisation or 3D design, full execution, purchase and delivery of finishing materials and technical supervision. In addition, it is possible to extend the scope of services with, for example, furniture finishing.

Monika Kudełko, Director of Strategy and Marketing Communication at Activ Investment:
We do not currently offer a turnkey flat finishing service. The exceptions were the investments Nova Mikołowska in Katowice and Braniborska 44 in Wrocław, completed in 2021 and 2022, located in strict city centres, where investors were the main group of buyers. Currently, we are focusing on delivering flats in development condition, which allows customers full freedom to arrange the interiors according to their own needs and taste.

Małgorzata Mellem, member of the Budlex Management Board:
Currently, we do not offer turnkey finishing of flats directly, but we provide our clients with contact with trusted contractors and interior designers, which facilitates the arrangement process. We are considering a return to the turnkey finishing service, which was very popular, but we have temporarily suspended it due to the volatility of the prices of finishing materials in recent times. We will make the decision to resume this offer in response to current customer needs and the stabilisation of the market.

Source: dompress.pl
Photo: Fabrica Ursus, Aurec Home

Max Realitní Fund acquires Myslbek office and retail complex in Prague

The Myslbek office and retail complex, located on the prestigious Na Příkopě street in the heart of Prague, has been acquired by Max Realitní Fund from its previous owner, Anatol Invest Holding B.V. The asset management of the property was previously handled by AEW. The transaction was facilitated by Savills and iO Partners, which jointly represented the seller and provided commercial advisory services.

Completed in 1996, the Myslbek complex offers 16,940 square meters of premium office space and 7,736 square meters of retail space. The building features seven above-ground floors and four underground levels, which include 326 parking spaces, a rarity in such a central location. Myslbek uniquely connects Na Příkopě with Ovocný trh, offering a strategic link between two of Prague’s busiest public squares. The building, named after a prominent artistic association that once exhibited in the area, is a key part of Prague’s commercial landscape and is poised to further enhance the vibrancy of the surrounding community.

Fraser Watson, Head of Investment at Savills, expressed his appreciation for the opportunity to be involved in the transaction and extended gratitude to AEW for their trust in the advisory team. He also wished Max Realitní Fund success in ushering in a new era for the landmark property.

According to Petr Strýček MRICS, Head of Capital Markets at iO Partners, the sale of Myslbek underscores the continued demand for prime real estate assets in Prague. He praised the work of the previous owner in maintaining the property’s value and expressed confidence that Max Realitní Fund will continue to uphold its legacy as a dynamic business and retail hub.

Richard Morávek, co-founder of Max Realitní Fund, described the acquisition of Myslbek as a unique investment opportunity in one of Prague’s most coveted locations within the city’s “Golden Cross”, spanning the area between the National Museum, Můstek, and Náměstí Republiky. He emphasized the fund’s commitment to enhancing the property while preserving its architectural integrity. Plans include revitalizing the interiors, diversifying the tenant mix, and potentially introducing a high-end dining zone to create a more engaging and dynamic destination for visitors.

Max Realitní Fund envisions Myslbek as an integral part of Prague’s evolving cityscape, aiming to seamlessly integrate the complex with Na Příkopě street and Ovocný trh, further solidifying its status as a prime commercial and cultural destination.

The final transaction price and yield remain undisclosed as per the agreement between the buyer and the seller.

Wola Center reaches 90% occupancy with Warsaw Court of Appeal lease

Hines, the global real estate investment, development, and property management firm, has announced that the Warsaw Court of Appeal has signed a long-term lease agreement for office space at Wola Center in Warsaw. With this new lease, secured in Q4 2024, the building’s occupancy level has reached 90%.

The Court of Appeal has leased 2,000 square meters across two floors, along with dedicated parking spaces. The lease agreement, facilitated by Vertigo Property Group representing the tenant and legal advisory by DPPA law firm for Hines, underscores Wola Center’s growing appeal to both private and public sector tenants.

Wola Center, owned by the Hines European Value Fund (HEVF 1), stands out for its strategic location, sitting adjacent to the District Court and offering a prime setting for institutions seeking high standards of service and reliability. The building is known for its modern design, high-quality construction, and cost-effective operational expenses, making it an attractive option for a variety of tenants.

Patrycja Zyśk, Leasing Manager at Hines Polska, expressed satisfaction with the growing demand for Wola Center, emphasizing that nearing full occupancy reflects the facility’s top-tier standards and attractiveness to both public institutions and private enterprises. She highlighted the lease agreement with the Warsaw Court of Appeal as a significant validation of the building’s appeal and competitive edge in Warsaw’s office market.

Located at 33 Przyokopowa Street in Warsaw’s Wola district, Wola Center enjoys excellent connectivity, with easy access to major transport hubs, including the underground metro and Warsaw Ochota railway station. The complex provides 34,930 square meters of office, coworking, and retail space, complemented by a range of amenities such as a green patio, rooftop terraces, and cyclist-friendly infrastructure, including bike racks and showers. The building also features 121 public parking spaces and 249 spaces for tenants, with EV charging stations available for added convenience.

Wola Center meets the highest international environmental standards, holding the prestigious BREEAM In Use “Outstanding” certificate, underscoring its commitment to sustainability and energy efficiency.

Trump’s return threatens global climate efforts, EU urged to lead with Green Deal

The re-election of Donald Trump as U.S. president could deliver a significant setback to global climate protection efforts, according to a recent study by the German Institute for Economic Research (DIW Berlin). The study highlights the likelihood of Trump rolling back environmental policies, reinforcing the dominance of fossil fuels, and obstructing international climate agreements. As the U.S. retreats from climate commitments, the European Union is urged to step up its leadership role through the Green Deal and ambitious climate initiatives.

The energy transition in the United States remains sluggish, with fossil fuels continuing to account for 84% of the country’s energy supply. The rapid expansion of domestic oil and shale gas production has not only met national demand but also fueled exports. Although the Biden administration introduced significant climate-friendly policies, such as the Inflation Reduction Act (IRA), experts argue that even under the most optimistic scenarios, these initiatives will fall short of achieving the necessary emission reductions to meet the 1.5-degree Celsius global warming target.

Trump’s previous presidency saw the U.S. withdrawal from the Paris Agreement and a scaling back of environmental regulations. His rhetoric around fossil fuel expansion, encapsulated by the slogan “drill, baby, drill,” suggests a similar course in a second term. The DIW study warns that a complete withdrawal from the UN Framework Convention on Climate Change is also a possibility, which would not only remove the U.S. from global climate negotiations but also eliminate crucial financial contributions, potentially prompting other major polluters to follow suit.

Despite the challenges posed by a potential Trump administration, there are areas of optimism. Some U.S. states have made significant progress in renewable energy development. States like Iowa, South Dakota, Kansas, and Oklahoma now generate over 40% of their electricity from wind power, while solar energy contributes more than 25% of electricity in California and Texas. Additionally, regional initiatives, such as emissions trading systems on the East Coast, demonstrate a decentralized push towards sustainability.

The DIW researchers note that Trump is unlikely to completely dismantle the IRA, as many Republican-led states have benefited from its funding. However, overall federal support for green initiatives is expected to decline, potentially hindering innovation and growth in sustainability-focused businesses.

Europe, particularly Germany and the EU, is positioned to capitalize on the potential policy vacuum left by the U.S. retreat from climate leadership. The study emphasizes that rather than engaging in a “race to the bottom” by relaxing environmental policies, the EU should take decisive action to increase financial incentives for green markets and strengthen its competitive edge in clean technologies. Maintaining political reliability and supporting sustainable industries could allow the EU to solidify its leadership position in the global green economy.

The study’s authors conclude that a second Trump term would delay international climate progress by at least four years. However, they stress that it is imperative for Germany and the EU to stay the course, resisting downward pressures on climate policy and focusing on the long-term benefits of a greener economy. The European Green Deal, with its ambitious climate targets and regulatory framework, stands as a crucial counterweight to potential U.S. inaction in the years ahead.

Source: DIW Berlin

MDC² Park Kraków South attracts new tenants, expanding its diverse business community

MDC², a developer of sustainable warehouse and production spaces in Poland, in collaboration with Generali Real Estate, has secured four new lease agreements at its MDC² Park Kraków South project in Skawina, just 13 kilometers from the center of Kraków. The newly signed tenants will occupy a total of 16,000 square meters of warehouse and office space, further solidifying the park’s position as a key logistics hub in the region.

The new tenants include Emerald, a distributor of JHK-branded clothing; Iris Galerie, a French company specializing in iris photography for artistic purposes; AiK Tezeusz, Poland’s largest player in the book re-commerce market; and Libris, a company specializing in the management of paper and electronic documentation. Each company has secured substantial warehouse and office spaces tailored to their operational needs, contributing to the park’s dynamic and diverse business environment.

MDC² Park Kraków South is a strategic development that comprises three buildings with a total planned area of 83,000 square meters. One of the park’s key assets, a 36,200-square-meter facility, has already been fully leased to global medical technology company Stryker, while another building currently under construction will be occupied by leading logistics services provider InPost, with an 11,000-square-meter lease agreement signed for delivery by the end of 2025.

According to Katarzyna Dudzik, Development Director at MDC², the addition of these new tenants demonstrates the versatility of the project. She highlighted that Building 2, despite being constructed speculatively, offers premium features such as enhanced daylighting and superior insulation, making it an ideal space for both warehousing and light manufacturing operations. Dudzik expressed confidence that the state-of-the-art facilities will support the rapid growth of the new tenants and help them achieve their business objectives.

Generali Real Estate, the investment partner of the project, views MDC² Park Kraków South as a strategic component of its broader expansion in logistics and industrial real estate across Central and Eastern Europe. Miroslav Nutil, Asset Manager for Generali Real Estate CEE & Nordics Region, emphasized that the project’s design, which includes single-tenant and multi-tenant buildings, has proven to be a successful investment model. The development continues to attract key players across various industries, reinforcing its market potential and sustainability credentials.

The new tenants bring unique business models to the park. Emerald JHK.pl, a leading supplier of promotional and corporate clothing in Poland, will benefit from the new location’s proximity to major courier hubs, enabling faster delivery and improved stock management. Meanwhile, Iris Galerie is introducing its innovative art concept to the Polish market, offering customers a unique experience through macro photography of the human iris.

Libris, part of the Libris Global Holdings Ltd. group, specializes in archive management and document security, bringing years of expertise in ISO-certified information security and quality management. The company’s advanced storage facilities and IT infrastructure align perfectly with the modern logistics park’s capabilities. Tezeusz.pl, a dominant force in the Polish antique book market, plans to leverage its new facility to expand its e-commerce operations and foray into the European market, starting with the Czech Republic in 2025.

The environmentally conscious design of MDC² Park Kraków South further enhances its appeal to tenants prioritizing sustainability. The project incorporates innovative solutions such as photovoltaic panel-ready roofs, electric vehicle charging stations, and a rainwater retention system that repurposes grey water for sanitary use. A green façade with evergreen plants helps reduce heat exposure, while 95% of building materials used in the construction are recyclable. The park also features recreational and green spaces, creating a healthy and inspiring working environment.

Legal support for the lease transactions was provided by Greenberg Traurig, while Axi Immo Group and Cushman & Wakefield facilitated the commercial negotiations.

MDC² Park Kraków South continues to attract high-profile tenants from various sectors, reinforcing its position as a premier logistics destination in the region, offering top-tier facilities with a strong focus on sustainability and operational efficiency.

UK public sector borrowing reaches highest December level in four years

The UK public sector’s borrowing for December 2024 reached £17.8 billion, marking an increase of £10.1 billion compared to December 2023. This figure represents the highest December borrowing level recorded in the past four years, reflecting ongoing financial pressures on government finances.

The current budget deficit, which accounts for borrowing to cover day-to-day public sector operations, stood at £10.0 billion in December 2024. This represents a year-on-year increase of £7.3 billion and is the highest December deficit recorded in the past two years.

Interest payments on central government debt rose to £8.3 billion in December, driven largely by fluctuations in the Retail Prices Index (RPI). This marks an increase of £3.8 billion compared to the previous year and represents the third-highest December figure since monthly records began in January 1997.

For the financial year to December 2024, total public sector borrowing reached £129.9 billion, which is £8.9 billion higher than the same period in the previous fiscal year. This makes it the second-highest borrowing figure recorded for this period since monthly records began in January 1993.

The UK’s public sector net debt, excluding public sector banks, was provisionally estimated at 97.2% of gross domestic product (GDP) at the end of December 2024. This figure reflects a 0.3 percentage point increase compared to December 2023, keeping debt levels at figures last seen in the early 1960s.

Similarly, public sector net financial liabilities, excluding public sector banks, were estimated at 84.5% of GDP at the end of December 2024. This marks an increase of 1.9 percentage points from the previous year but remains 12.7 percentage points lower than public sector net debt.

The central government net cash requirement, which measures the difference between government receipts and expenditure excluding UK Asset Resolution Ltd and Network Rail, stood at £19.4 billion in December 2024, reflecting a £0.8 billion increase compared to December 2023.

The rising levels of public borrowing and debt highlight the ongoing financial challenges facing the UK government, as it navigates economic pressures and rising interest costs while seeking to manage public finances effectively.

Source: UK National Statistics Office

Polish Government agency launches EUR 1.1 billion program to boost energy transition

Poland’s National Environmental Protection and Water Management Fund (NFOSiGW) has unveiled a €1.1 billion initiative to support businesses engaged in the country’s energy transition efforts. The program, announced on Monday, aims to provide financial assistance to companies of various sizes involved in renewable energy and electromobility sectors.

According to the NFOSiGW statement, companies will be eligible to apply for funding starting in the second quarter of 2025, with disbursements expected to be completed by the second quarter of 2026. The funding, sourced from Poland’s revised National Recovery Plan (KPO), is part of the broader European Union’s Recovery and Resilience Facility (RRF), which seeks to enhance economic and social resilience across member states following the COVID-19 pandemic and the economic fallout from Russia’s invasion of Ukraine.

The financial support is aimed at accelerating Poland’s transition to cleaner energy, with grants allocated to projects focused on low-emission industrial infrastructure, as well as the generation and storage of renewable energy. The initiative aligns with the Polish government’s long-term strategy to reduce reliance on fossil fuels and foster a sustainable energy future.

Poland’s access to these EU funds was previously suspended due to concerns regarding judicial independence and the rule of law under the former government led by the conservative Law and Justice (PiS) party, which remained in power until December 2023. The European Commission had withheld the funds, citing non-compliance with key democratic principles. However, in February 2024, following the implementation of judicial reforms ensuring greater independence of the judiciary, the Commission confirmed that Poland had met the necessary conditions, unlocking access to the funds earmarked for recovery and modernization efforts.

The newly available financial resources are expected to provide a significant boost to Polish enterprises looking to modernize their operations and align with EU climate goals. Experts believe that the funding will encourage greater investment in green technologies, facilitating Poland’s shift toward carbon neutrality in line with EU directives.

With the application window set to open in 2025, businesses across the country are preparing to capitalize on the opportunity to drive innovation and advance Poland’s position in the European renewable energy sector.

Source: PAP

Ryanair introduces direct flights from Slovakia to Poland with new Gdansk route

Slovak travelers will soon have a direct connection to Poland’s Baltic coast as Ryanair introduces a new route from Bratislava to Gdansk, marking the airline’s first direct service between Slovakia and Poland. The new connection, which is set to launch on April 1, 2025, coinciding with the start of the summer flight schedule, will operate three times a week. This development represents a significant expansion of travel options for Slovaks, offering convenient access to Poland’s scenic coastline and vibrant port city.

Until now, Slovak travelers have faced considerable obstacles when considering Poland as a destination, particularly for seaside vacations. Tourism experts previously noted that the lack of direct flights between Slovakia and Poland, especially to coastal cities like Gdansk, has deterred Slovak tourists from exploring the Polish seaside. The absence of seamless air connections forced travelers to rely on lengthy train journeys or multiple flight connections, making the journey cumbersome and time-consuming.

The introduction of the new route aligns with the rising popularity of Gdansk as a tourist destination. Known for its rich maritime history, stunning architecture, and picturesque beaches, the city attracts visitors from across Europe seeking cultural experiences and seaside relaxation. Gdansk, part of Poland’s renowned Tri-City area along with Gdynia and Sopot, offers a unique blend of history and modern attractions, including the famous Long Market, the medieval Gdańsk Crane, and its burgeoning culinary and nightlife scenes. The region’s sandy beaches and waterfront promenades are expected to appeal to Slovak holidaymakers looking for an alternative to the traditional summer destinations.

Ryanair’s decision to introduce this new route is seen as a strategic move to tap into an underserved market. Slovakia, despite its proximity to Poland, has had limited direct flight options to its neighboring country. The new connection is expected to boost tourism flows between the two nations, encouraging more Slovaks to explore Poland and vice versa. Industry analysts predict an increase in travel demand, especially during peak holiday seasons, as travelers look for affordable and accessible vacation spots.

With the introduction of the Bratislava-Gdansk route, tourism experts anticipate a shift in Slovak travel preferences. Traditionally, Slovaks have opted for Mediterranean destinations such as Croatia, Italy, and Greece for their summer holidays. However, the availability of a direct connection to Poland’s Baltic coast may encourage more travelers to consider northern European destinations, broadening their options beyond the typical sun-and-sea resorts.

Travel agencies have welcomed the news, predicting a surge in interest among Slovaks eager to explore Gdansk’s historical charm and beachside attractions. “This new route fills a long-standing gap in our market,” said a spokesperson from a leading Slovak travel agency. “We expect a strong demand, especially among families and weekend travelers seeking a quick and affordable getaway to a culturally rich city by the sea.”

Czech Parliament set to approve new measures on attorney escrows and corporate gender quotas

The Czech Parliament is set to cast a final vote today on a series of legislative amendments, including new rules aimed at preventing embezzlement in attorney escrows and the introduction of gender quotas for women in the management of large companies.

The proposed amendment to attorney escrow regulations seeks to enhance protections against financial mismanagement, ensuring stricter oversight and safeguarding clients’ funds. Meanwhile, the legislation on gender quotas aims to increase female representation in corporate leadership, aligning the country with broader European Union directives promoting gender equality in the business sector.

Also up for final consideration is an amendment mandating the installation of cameras in slaughterhouses. Lawmakers may introduce an additional provision allowing ritual slaughter with prior stunning for commercial purposes.

In the opening round of deliberations this afternoon, MPs will review a government-backed amendment to hunting regulations. The proposed law would require hunters to meet state-imposed minimum quotas for game hunting or face financial penalties. However, the Czech Hunting Union has expressed skepticism, arguing that the legislation fails to adequately address the problem of overpopulation and its impact on forests.

Several other significant bills are also pending final approval in the lower house. These include legislation to establish a children’s ombudsman, recognize the status of artists, and provide an official background framework for the newly elected president. Additional measures aim to strengthen protections for victims of domestic violence and simplify divorce proceedings.

Another key proposal under discussion concerns increased oversight of large acquisitions and public contracts involving companies from outside the European Union. Lawmakers are expected to raise the threshold for small-scale contracts that do not require a formal tendering process by one-third, in an effort to streamline procurement procedures while maintaining transparency.

As the legislative session progresses, attention will be focused on the potential implications of these reforms across various sectors, from legal and corporate governance to environmental and social policy.

Source: CTK

Croatia sees steady wage growth in November 2024 amid sectoral disparities

In November 2024, the average monthly net earnings per person employed in legal entities in Croatia amounted to €1,366, reflecting a 1.9% nominal increase and a 1.5% real increase compared to October 2024. The average gross earnings for the same period were €1,900, showing a 2.4% nominal rise and a 2.0% real increase from the previous month.

The highest average monthly net earnings were recorded in the air transport sector, where employees earned €2,133, while the lowest was in the clothing production sector, with an average of €863. In terms of gross earnings, air transport topped the list at €3,106, whereas clothing production remained the lowest at €1,121.

When compared to November 2023, the average net earnings were 13.1% higher nominally and 10.0% higher in real terms. Similarly, gross earnings saw a 13.2% nominal increase and a 10.1% real increase.

For the period spanning from January to November 2024, the average monthly net earnings amounted to €1,314, reflecting a 14.9% nominal and 11.7% real increase compared to the same period in 2023. Gross earnings during this period averaged €1,816, also showing a 14.9% nominal increase and an 11.7% real rise.

The number of paid working hours in November 2024 averaged 166 hours, which marked an 8.8% decrease compared to October 2024. The highest number of paid hours was in auxiliary mining services, with employees working 182 hours, while the lowest was in building management and landscape maintenance services, with an average of 150 hours.

The average net hourly wage in November 2024 was €7.99, which represented a 10.8% increase compared to the previous month and a 17.8% increase year-on-year. The gross hourly wage stood at €11.11, up 11.4% from October 2024 and 17.9% higher than in November 2023.

The median net salary for November 2024 was €1,162, reflecting a 0.2% increase compared to October and a 12.8% rise from the previous year. The median gross salary reached €1,578, also showing a 0.2% increase month-on-month and a 12.9% increase year-on-year.

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