Real Wage Growth Maintained in Most Slovak Sectors in January 2026

The average monthly wage in Slovakia increased year-on-year in most monitored sectors at the start of 2026, although employment trends varied across the economy, according to preliminary data from the Statistical Office of the Slovak Republic.

In January 2026, nominal wages rose in eight of the ten sectors tracked through the monthly survey. The pace of growth differed across industries, ranging from a 2.1 percent decline in the sale and repair of motor vehicles to a 6.6 percent increase in food and beverage service activities.

After adjusting for inflation, real wages increased in six of the monitored sectors. The strongest real growth was recorded in food and beverage services, where purchasing power rose by 2.5 percent year-on-year. However, four sectors saw declines in real wages. The largest decrease occurred in the sale and repair of motor vehicles, where real wages fell by 5.9 percent. Other sectors recording a decline in purchasing power included information and communication (-4 percent), accommodation (-2.3 percent), and wholesale trade (-1.4 percent).

Employment trends were mixed during the same period. The number of employed persons increased year-on-year in six of the ten monitored sectors. Accommodation recorded the strongest growth, with employment rising by 8.8 percent.

At the same time, employment declined in four sectors. Wholesale trade saw the largest reduction, with a 3.8 percent drop compared with January 2025. Smaller declines were also recorded in retail trade, transportation and storage, and industry, where employment decreased by up to 2.1 percent.

The figures are based on monthly surveys covering ten key sectors, including industry, construction, transport and storage, information and communication, and selected market services, as well as segments of internal trade such as retail, wholesale, accommodation, and food services. These monthly results provide an early indication of wage and employment trends, while the country’s official average wage figures are calculated on a quarterly basis using data from a broader set of nineteen economic sectors.

Source: SOSR

Kenneth Cole New York Opens First European Store in Prague

The American fashion brand Kenneth Cole New York has opened its first store in Europe at Westfield Chodov in Prague. The boutique occupies nearly 200 square metres within the shopping centre.

The entry of the brand into the Czech market was supported by real estate advisory firm Colliers, which represented the tenant in the location selection and lease negotiations.

Kenneth Cole New York, founded in 1982, offers clothing, footwear and accessories positioned in the mid-price segment. Demand for this category has expanded across Europe in recent years as consumers increasingly look for recognised brands that combine design and affordability.

The company selected Prague as its initial location for the European market. The city attracts close to eight million visitors annually and has developed into a significant retail destination in Central Europe. Westfield Chodov, the largest shopping centre in the Czech Republic, provides more than 300 stores and approximately 100,000 square metres of retail space.

Colliers began advising the client in August 2025. The consultancy conducted market analysis, prepared a shortlist of potential locations and coordinated site inspections before entering negotiations with the landlord. The firm also supported the review and finalisation of the lease agreement.

The process from the initial market assessment to the completion of contractual documentation was finalised in under five months. The store opened to customers in March 2026.

Pilot Project in Austria Tests Recycling of EPS Insulation Waste

A pilot project involving PORR, the start-up ORBIS Development, and building materials producers Baumit and Austrotherm has tested a method to recover expanded polystyrene (EPS) from construction waste during building demolition.

In Austria, an estimated 2,500 tonnes of EPS are generated each year from external thermal insulation composite systems (ETICS) installed on building façades. During demolition, the insulation material is typically mixed with mineral residues such as plaster and reinforcement layers, making recycling difficult.

The pilot project tested an excavator attachment developed by ORBIS Development that separates EPS insulation from mineral components directly at demolition sites. The technology was deployed by PORR at two locations, allowing the construction team to dismantle and sort several tonnes of EPS by material type.

According to PORR, the process enables a larger share of façade demolition materials to be separated directly on site, reducing the need to transport entire insulation systems for further processing. The recovered EPS was subsequently processed and analysed by Austrotherm to evaluate whether it could be reused in the production of new insulation boards.

In parallel, additional research is examining whether mineral residues from façade demolition can also be reused. During the pilot project, plaster components were crushed and tested by Baumit to determine whether the material could potentially be used as an aggregate in cement production. Further industrial-scale trials are currently underway.

The development of the excavator attachment was supported from an early stage by the housing developer Salzburg Wohnbau, which participated in the project as a client.

Participants in the initiative describe the combination of selective deconstruction and material recovery as a potential step toward improving circular practices in façade insulation systems. The approach aims to recover usable raw materials from demolition processes rather than sending them for disposal.

ORBIS Development stated that the pilot results provide a basis for further testing and potential expansion of the method through additional projects involving construction companies, waste management firms and recycling partners. PORR said collaboration with technology companies and building material suppliers forms part of its broader efforts to improve resource efficiency and reduce waste in construction processes.

Poland: Oil Price Surge Pushes Forward Inflation Index Higher in March

The Future Inflation Index for Poland, an indicator designed to signal changes in consumer prices several months in advance, increased by 0.5 points in March 2026 compared with the previous month. The rise was largely associated with the recent escalation of tensions in the Middle East, which has contributed to a sharp increase in global oil prices.

Higher oil prices often affect a wide range of goods and services because energy costs are closely linked to production, transportation and supply chains. As a result, movements in the oil market can influence inflation expectations across the broader economy.

In the short term, analysts expect increased volatility in both energy prices and in the prices of goods that rely heavily on oil or are connected to supply chains in the affected region. Supply disruptions or the risk of reduced availability of key commodities typically trigger a range of reactions among market participants. These can include sudden shifts in demand, precautionary purchasing and speculative activity, sometimes extending to sectors that are only indirectly linked to energy markets.

Under such circumstances, economic forecasting becomes more difficult. Market behaviour following a supply shock can vary widely, and different scenarios, from temporary price spikes to longer-lasting inflationary pressures, remain possible.

Most of the statistical data used to calculate the Future Inflation Index, with the exception of commodity prices and exchange rates, does not yet reflect the most recent geopolitical developments. As a result, analysts caution against drawing strong conclusions from the current readings of the index. This limitation is particularly relevant for measures of inflation expectations among businesses and households, which are likely to adjust only after the effects of recent events become clearer.

Given the rapidly evolving situation, economists suggest that monitoring market reactions and geopolitical developments may currently provide a more reliable guide than attempting to interpret short-term indicators that have not yet incorporated the latest shocks.

Source: BIEC

Fabryka Kart Trefl-Kraków leases 12,500 sqm at Panattoni Park Kraków East V

Fabryka Kart Trefl-Kraków has signed a lease for approximately 12,500 sqm of warehouse and office space at Panattoni Park Kraków East V in southern Poland. The facility is being developed by Panattoni and is located in the Małopolska region near Kraków.

The company manufactures playing cards, board games and party games and continues the tradition of a Kraków production facility that has operated since 1947. Its operations include contract manufacturing for international publishers as well as the development of its own product lines and promotional items. Fabryka Kart Trefl-Kraków employs nearly 300 people and runs a production plant in nearby Niepołomice.

The newly leased space will be used to store finished goods and semi-finished components used in the production of games and cards. The premises also include a small office and staff area of around 240 sqm. The tenant is expected to begin operations after completing interior adjustments required for its logistics processes.

According to the company’s management, the location was selected primarily because of its proximity to the existing production facility in Niepołomice and the transport connections available in the area. The site provides access to regional and international distribution routes while allowing the company to integrate its production and logistics activities more efficiently.

Panattoni Park Kraków East V is a logistics complex offering around 30,000 sqm of space. It is located in Zakrzów, approximately 19 km east of central Kraków and close to the Podłęże interchange on the A4 motorway, which connects southern Poland with key domestic and international transport corridors. The S7 expressway and John Paul II International Airport Kraków‑Balice are also within convenient distance.

Other tenants operating in the park include companies from the automotive and industrial sectors. The building has received an “Excellent” rating under the BREEAM environmental certification system, which evaluates sustainability and operational efficiency in commercial buildings.

The leasing process was supported by advisors from AXI IMMO, who represented the tenant in identifying suitable logistics space in the area.

From the Black Sea to the Persian Gulf: Rising Military Activity Raises Questions About Energy and Geopolitics

Recent military and political developments stretching from Eastern Europe to the Middle East are drawing growing attention from analysts who see the possibility that several global dynamics; security policy, energy markets and great-power competition, may be converging at the same time. While the individual events are unfolding in different regions, their timing and potential consequences suggest they could be part of a broader geopolitical shift.

Romania has recently become part of this discussion after reports that the United States has explored expanded operational use of the Mihail Kogălniceanu Air Base, a major NATO logistics hub located near the Black Sea coast. The facility has long supported allied missions in multiple theatres, but new requests reportedly under consideration could allow it to play a larger role in supporting operations connected to the escalating confrontation involving Iran. The matter has reportedly been reviewed by Romania’s Supreme Council of National Defence, highlighting the strategic sensitivity of the issue.

The possibility that infrastructure in Eastern Europe could support activities related to developments in the Middle East reflects the increasingly interconnected nature of modern military logistics. Bases far from the front lines are often used for coordination, support operations and long-range deployment, particularly in conflicts that involve air power and multinational alliances.

At the same time, tensions surrounding Iran have intensified, raising concerns about the risk of broader instability across the region. Any escalation in this area carries global implications because of the proximity of the Strait of Hormuz, a narrow maritime corridor through which a large share of internationally traded oil passes each day. Even limited disruptions in this area have historically caused rapid movements in energy prices and heightened volatility across global markets.

European military forces have also increased their presence in nearby waters. France, for example, has deployed a naval task force centred on the French aircraft carrier Charles de Gaulle, operating in the eastern Mediterranean and adjacent maritime zones. Official explanations emphasise the protection of commercial shipping and the need to safeguard European interests in one of the world’s most important energy transport routes.

Energy considerations remain a central factor in how governments interpret the current situation. Oil flows from the Middle East influence economic stability across Europe, Asia and North America. When tensions rise in the Gulf, markets often react quickly, reflecting concerns about supply disruptions or potential blockages in maritime trade routes.

In this environment, the position of major energy exporters becomes increasingly relevant. Countries with the capacity to increase production or redirect supplies could gain strategic influence if Middle Eastern shipments are interrupted. This reality inevitably brings attention to Vladimir Putin, whose country remains one of the world’s largest producers of oil and gas.

Political dynamics in the United States also play a role in shaping the wider strategic environment. The confrontational stance toward Iran associated with Donald Trump has reinforced the perception that Washington is prepared to exert stronger pressure on Tehran. Such a posture has implications not only for regional stability but also for relations with countries that maintain political or economic ties with Iran.

Taken together, the developments now unfolding across the Black Sea region, the Middle East and global energy markets illustrate how interconnected modern geopolitics has become. Military deployments, infrastructure access agreements and maritime security operations may appear as isolated decisions, yet they often form part of a larger strategic landscape shaped by energy security, alliance commitments and global power competition.

Whether the current sequence of events represents a temporary alignment of circumstances or the early stage of a broader geopolitical realignment remains uncertain. What is clear is that developments in regions separated by thousands of kilometres, from Romania’s Black Sea coast to the waters of the Persian Gulf, are increasingly influencing one another in ways that could have lasting implications for both security and global energy markets.

Editorial Note: The views expressed in this article reflect a forward-looking analysis of current geopolitical developments. They are intended for informational purposes only and should not be interpreted as financial, legal or investment advice.

RICS Introduces Mandatory AI Standard for Surveyors – A Necessary Framework or an Overly Cautious Step?

The Royal Institution of Chartered Surveyors (RICS) has introduced its first global professional standard governing the use of artificial intelligence in surveying practice, which came into effect on March 9, 2026. The framework applies to all RICS members and regulated firms worldwide and establishes mandatory requirements for the responsible use of AI in areas such as valuation, construction, infrastructure and land services. The move reflects the rapid integration of AI tools across the built environment sector, where automation, predictive analytics and digital modelling are increasingly influencing professional decision-making.

The standard places the professional surveyor at the centre of AI use. Surveyors must maintain sufficient knowledge of AI systems, including their limitations, potential biases and data risks. Firms are required to document whether the use of AI has a “material impact” on service delivery and justify its use through written assessments. In addition, companies must maintain internal registers of AI systems used, conduct risk evaluations prior to implementation and carry out periodic quality checks when AI generates high-volume outputs. Transparency toward clients is also a core requirement, with surveyors expected to disclose when and how AI will be used and provide clients with the option to challenge or opt out of its application where possible.

From a regulatory perspective, the framework represents a significant development in professional standards. By establishing governance procedures, documentation requirements and accountability structures, RICS is attempting to reduce the professional liability risks associated with AI-driven decision-making. Professional indemnity insurers are likely to view the new standard as an important benchmark for assessing claims and determining whether a surveyor acted with reasonable competence. In legal disputes, courts may also look to these standards as evidence of accepted professional practice.

However, the introduction of such detailed governance requirements has also raised questions about whether the framework reflects the realities of a rapidly evolving technology environment. Some observers argue that the standard may appear cautious, particularly given how quickly AI systems are improving and becoming embedded in property valuation models, asset management platforms and construction planning tools. The emphasis on extensive documentation, internal registers and written justifications for AI use could increase administrative burdens for firms, particularly smaller practices, potentially slowing innovation rather than encouraging responsible adoption.

At the same time, the profession’s conservative approach may be understandable. Surveying services often underpin financial transactions involving significant capital values, particularly in commercial real estate and infrastructure development. Inaccurate outputs, algorithmic bias or poorly understood AI models could lead to flawed valuations or project assessments, creating legal and financial consequences. In that context, the RICS framework is less about restricting innovation and more about ensuring that AI remains a tool guided by human expertise rather than replacing professional judgement.

Rather than being outdated, the standard can therefore be viewed as an early governance layer for a technology that is still evolving. It establishes accountability at a moment when many industries are struggling to define how AI should be integrated into professional workflows. As market experience grows, it is likely that future revisions will become more flexible and aligned with technological progress.

Ultimately, the new RICS AI standard reflects a broader shift across professional services: artificial intelligence may increasingly support analysis and efficiency, but responsibility for decisions remains firmly with the human professional. For the surveying industry, the challenge over the coming years will be finding the right balance between innovation, risk management and professional accountability.

Source: CIJ.World Research & Analysis Team

Calls for Greater Transparency as Fuel Prices Rise Amid Global Tensions

Rising oil prices linked to geopolitical tensions in the Middle East are pushing fuel costs higher across Europe, prompting renewed debate about how governments should respond. Economists warn that while increases in petrol and diesel prices are partly explained by higher crude oil costs, the structure of fuel markets may also influence how quickly and sharply prices rise for consumers.

According to recent data from the European Commission, fuel prices in Germany have increased significantly in recent weeks, at times rising faster than the European Union average. Analysts note that this difference cannot be explained by taxes or duties, which remain fixed components of fuel prices. Instead, attention has focused on the structure of the fuel supply chain, where a limited number of vertically integrated companies operate across refining, wholesale distribution and retail sales.

Competition experts argue that such market concentration can weaken competitive pressure, potentially allowing price increases to pass through to consumers more quickly. Germany’s Federal Cartel Office is already monitoring developments through its Market Transparency Unit, which tracks fuel prices and margins across the country. The authority has also opened proceedings examining the competitive conditions within the mineral oil sector.

However, economists caution that competition law alone cannot deliver immediate changes in retail prices. Regulatory investigations and structural reforms typically take time, even when concerns about market concentration are identified.

The debate has also turned to possible policy responses. Some political proposals have suggested introducing temporary fuel subsidies, windfall taxes on energy companies or direct price controls. Critics argue that such measures can be costly for public finances and may distort market mechanisms without guaranteeing that savings are fully passed on to consumers.

Alternative approaches have been proposed that focus on improving market transparency and consumer information. One example often cited is the pricing system used in Austria, where fuel stations are limited in how frequently they can raise prices during the day, while reductions remain unrestricted. Supporters say this system reduces sudden price spikes while maintaining competition among retailers.

Other suggestions include adjusting how fuel price comparison apps operate so that consumers are more easily directed toward the lowest available prices nearby, which could strengthen competition between petrol stations.

In the longer term, economists emphasize the need for structural changes that improve transparency in wholesale fuel markets and encourage greater participation from independent suppliers. Such measures, they argue, could strengthen competition and help ensure that price movements in global energy markets are reflected more fairly at the pump.

Source: DIW Berlin

Homebuyer Confidence Holds Steady as India’s Housing Market Enters 2026

India’s housing market has begun 2026 with cautious optimism following a strong performance in the previous year. After a period of steady sales and rising interest from both domestic and overseas buyers in 2025, early signs suggest that the residential sector continues to benefit from stable economic conditions, improving income levels and a renewed focus on home ownership among younger households.

Market observers note that the beginning of the year often provides an early indication of buyer sentiment, as households reassess financial plans and consider long-term investments. Several research reports indicate that developers are preparing to introduce a large number of new housing units during the course of 2026, with premium developments expected to account for a significant share of upcoming supply. Rising participation from Indian buyers living abroad and growing wealth among urban professionals are among the factors supporting this demand.

The broader economic backdrop remains an important influence on purchasing decisions. Interest rate expectations, inflation trends and access to financing continue to shape the affordability of housing across India’s major cities. In recent policy meetings, the country’s central bank has maintained a stable monetary stance while keeping borrowing conditions broadly supportive for consumers. Earlier adjustments to benchmark lending rates have gradually filtered through the banking system, allowing mortgage rates to stabilise after a period of volatility.

For many potential buyers, borrowing costs remain a key consideration when evaluating property purchases. Although financing conditions have improved compared with previous years, home loan rates remain at levels that require careful financial planning. Analysts expect mortgage rates to remain relatively steady during 2026, reflecting both domestic economic conditions and broader global financial trends.

Surveys tracking buyer attitudes suggest that confidence in the housing market has begun to strengthen again after a period of moderation. Recent sentiment indicators based on responses from thousands of potential homebuyers show a modest improvement in expectations for the sector. While concerns about rising property prices and financing costs remain, many households continue to view residential property as a reliable long-term asset.

Demographic trends are also playing a significant role in shaping demand. Younger professionals are increasingly entering the property market as first-time buyers, encouraged by stable employment prospects and the desire for long-term financial security. At the same time, older households are seeking homes that better suit changing lifestyle needs, including properties that offer more space or improved amenities.

Geography is another factor influencing buyer behaviour. While India’s largest metropolitan areas continue to attract strong demand, a growing number of buyers are exploring opportunities in cities where property prices remain comparatively more accessible. Urban centres such as Noida, Chennai and Hyderabad have seen rising interest from buyers seeking a balance between affordability, employment opportunities and infrastructure development.

Affordability remains a defining theme of the market. A large share of buyers continues to focus on homes within the mid-price range, which offers a combination of manageable financing and long-term value. Despite the growing visibility of luxury housing projects in several major cities, properties in this segment continue to attract a broad base of potential homeowners.

Overall, the early months of 2026 suggest that India’s housing market is entering the year with a stable foundation. Economic conditions remain supportive, buyer confidence is gradually strengthening and developers are preparing to introduce new projects to meet evolving demand. While borrowing costs and property prices will continue to influence purchasing decisions, residential real estate remains one of the most trusted investment avenues for Indian households seeking both security and long-term financial growth.

Source: CIJ.World India Research & Analysis Team

Early-Year Project Launches Reshape India’s Residential Property Cycle

The opening months of the year are becoming an increasingly important period for residential property launches across India. Developers who once relied heavily on festive seasons to introduce new housing projects are now turning to the first quarter as a strategic window for bringing developments to market. This shift reflects changing buyer behaviour, evolving financial cycles and a growing effort among developers to align new supply with early-year demand.

Recent market data from major property research firms shows that the first quarter has become a significant phase in the housing market. Tens of thousands of new residential units were introduced across India’s largest cities during the first three months of 2025, with the number of homes released closely matching the number sold during the same period. This balance suggests that developers are increasingly planning project launches to coincide with periods of strong buyer interest rather than simply following traditional seasonal patterns.

One of the reasons for this shift is the financial timing of many households. At the beginning of the year, potential buyers often reassess their financial position after the completion of the previous year. Savings accumulated over the year, along with performance bonuses received by many professionals, can increase the capacity of buyers to make large financial commitments such as purchasing a home.

Tax considerations also influence property decisions during this period. Homebuyers frequently evaluate purchases early in the year to take advantage of deductions available for mortgage payments and housing loans before the financial year concludes in March. This process often encourages buyers to begin property searches soon after the new year begins.

Demand during this period has been particularly visible in the premium housing segment. In several major Indian cities, higher-end residential properties have recorded noticeable increases in sales during the early months of the year. Analysts attribute this trend to growing wealth among professionals in sectors such as technology and finance, as well as the continued appeal of real estate as a long-term investment.

Developers are also timing project announcements around their own funding cycles. Institutional investors and financial institutions often review investment allocations at the start of the year, which can create favourable conditions for project financing. When capital becomes available, developers are more likely to introduce new projects in order to capture early momentum in the market.

Government policy announcements further influence market sentiment during this period. India’s national budget, typically presented in early February, often contains measures affecting housing, infrastructure development and taxation. Anticipation of these announcements can stimulate buyer interest even before policy details are confirmed, encouraging developers to introduce projects while market attention is high.

Marketing strategies within the real estate industry have adapted to this evolving launch calendar. Property exhibitions and housing showcases frequently take place during the first quarter, providing developers with opportunities to present new projects to prospective buyers and investors. These events have become an important platform for promoting residential developments and generating early sales.

Together, these factors have gradually transformed the first quarter into a crucial period for India’s residential property sector. What was once considered a relatively quiet time for new project announcements is now increasingly viewed as an opportunity to capture buyer interest, secure financing and establish pricing benchmarks for the year ahead.

As the housing market continues to mature, the growing prominence of early-year project launches reflects a broader shift toward more structured development cycles. By aligning supply with buyer readiness and financial planning patterns, developers are redefining the rhythm of residential activity across India’s major cities.