The Czechia has the most industrial and warehouse space per capita in Central Europe. There are 850 sqm per 1,000 inhabitants. It is followed by Poland with 542 sqm and Slovakia with 500 sqm, followed by Hungary and Romania. The average for these five countries is 470 sqm per 1000 inhabitants. This follows from the data of the real estate consulting company Cushman & Wakefield,
At the end of last year, the region had 39.5 million sqm of modern logistics and industrial space. Poland, the largest share, 53 percent, Czech Republic accounted for 23 percent. This was followed by Romania (12 percent), Slovakia (7 percent) and Hungary (6 percent).
“Current market data show, among other things, that the Czech Republic is still very attractive for the location of logistics infrastructure. As in Poland, this trend can be expected to continue in the future. Areas will continue to expand significantly depending on market developments and on the possibilities of obtaining a building permit from state administration bodies, “said Jiří Kristek, head of the rental team at Cushman & Wakefield.
At the end of last year, the share of vacant industrial and warehouse space in the region was the lowest in Hungary, where it was two percent. It was followed by the Czechia with a share of 4.2 percent, in Prague and its surroundings it was 2.2 percent. On the contrary, in Slovakia it was 8.3 percent. The average for the region was 6.1 percent.
“The record low vacancy in Prague is due to the long-term lack of new projects and growing demand. Most developers are very interested in this region, but to get suitable land and then all the necessary permits takes a very long time, so supply lags behind demand. “added Kristek.
Last year, more than 8.6 million square meters of industrial space were leased in Central Europe, more than a fifth of the entire market. Poland accounted for about three-fifths, and the Czechia for less than a fifth.
In the Czech Republic, transport and distribution companies had the largest share in total demand last year, with less than two-fifths. A fifth of leases were concluded by companies from the automotive industry, 13 percent to retailers. “The growing segment of e-commerce significantly contributed to the demand and its growth can be expected in the next period as well. which will in turn mean another demand for warehousing and logistics solutions, “Kristek added.
According to individual regions, last year most rental transactions took place in Prague and its surroundings (37 percent), followed by the Pilsen Region (21 percent) and the South Moravian Region (14 percent).
Of the individual developers, CTP Invest accounted for the most space in Central Europe (12 percent). Panattoni and Prologis followed, both with 11 percent. Thus, more than a third of the market belonged to these three companies.
Source: Cushman & Wakefild and CTK
