The four main economies of central Europe — the Czech Republic, Slovakia, Poland and Hungary — have flourished since EU accession in 2004. With the help of billions of foreign real estate investment euros, pounds and dollars, huge mixed-use developments have changed the skylines and streets of capital cities in the region. Even more massive development is planned as developers cast their eyes on uninhabited islands, old shipyards and abandoned rail yards. Stable rents and low vacancy rates prove that the development that has come online so far was greatly needed, but are we nearing the saturation point? Are the economies deep and dynamic enough to handle current and planned levels of development?
From the Current Issue
Here’s one definition of the term “green building”, given in 2007 by Prof Thomas Lützkendorf at the University of Karlsruhe in Germany: “The broad term ‘green building’ today covers many different ideas, as it has evolved from a combination of varying concepts and trends. In German-speaking areas, these concepts were influenced by ecological and biological trends in building and construction and can be circumscribed, among others, with strategies for energy saving, environmentally friendly construction and administration that conform to health standards. Such a building then more than meets the criteria for reducing energy costs and the resulting environmental effects in the utilisation phase: the complete lifecycle will be included.”