In the past few years, the European commercial real estate market has changed dramatically. First of all, it is connected with a colossal leap forward in business development. Many companies are scaling and opening their offices not only in their own country but also abroad. Due to this, investments in commercial and residential real estate are very popular among foreign citizens.
In addition, European countries are very loyal to the acquisition of a real estate by both citizens and foreigners. For example, an entrepreneur can open an investment project in Prague and get a good profit from business regardless of the country in which he lives. The Czech Republic has created favorable conditions for the development of small and medium-sized businesses.
What trends are observed in the commercial real estate market?
Leading world experts positively evaluate the development of the commercial real estate market.
Analysts say that in 2019-2020 the following trends will be characteristic:
- Increased demand for office space. This is due to the active development of the IT segment, travel agencies, call centers, consulting and insurance companies. The number of business centers in cities such as Paris, Dublin, Amsterdam is increasing annually. Opening office premises is an excellent
solution for the start of an investment project in Prague.
- The development of commercial premises. According to forecasts, the demand for retail space will continue to grow. This trend is especially characteristic of resort towns, where the tourist business and retail trade are actively developing. Also, experts say that the demand for retail space will grow due to the desire of owners of online stores to open their offices in the offline space. This trend is especially characteristic of the countries of Central Europe.
- Increased demand for storage space. First of all, this is due to the scaling up of companies and an increase in output. Trading companies are the main buyers of retail space. This trend is observed in France, Sweden, Italy, Spain.
- The growing popularity of multifunctional premises. Every year, co-working is growing in popularity – these are comfortable places where all the conditions for collaboration are created. This trend is typical for such large cities as Berlin, London, Paris, Prague, Barcelona.
- There is also a decrease in demand for traditional stores. This is due to the active development of online trading. Many European brands of clothes, shoes, accessories have already closed their outlets and transferred them to the online space.