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The Commercial Real Estate Analysis for CEECs region
Pavlas, Michal ; Hlaváček, Michal (advisor) ; Kvaček, Jan (referee)
In this thesis we examine macroeconomic factors that influenced the office real estate market in CEE countries between years 2000 and 2012. First, we describe commercial real estate indicators. Next, we create several models for four cities - Prague, Budapest, Moscow and Istanbul. We make also panel data regression for all four cities. We conclude some key determinants that influence the prime yields of office buildings in each city and finally we compare and contrast the results across all cities. Our results suggest that prime yields are most influenced by vacancy rate, gross take-up, total office stock and unemployment rate.
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Office market in Czech Republic
Ehrenberger, Patrik ; Dušek, David (advisor) ; Rosenthaler, Jan (referee)
Master`s thesis topic is characteristic of office market and it`s distinction among other segments of reality market. Inseparable part of the thesis is also analysis of development between years 1995 and 2013 with orientation toward prague office market and it`s comparison with other european cities. Furthermore thesis discusses options of applicability of initial, reversionary and equivalent yields as comparable figures across investment and geographical markets and application of exit yield for property valuation in discounted cash-flow model. Established facts are applied on office building Rivergarden II-III in dynamically developing district Karlín in Prague 8.
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The office spaces market: Analysis of factors influencing the rent of offices in 1997 - 2010
Pospíšilíková, Dana ; Dušek, David (advisor) ; Šrytr, Pavel (referee)
The diploma thesis focuses on the identification of factors influencing the rent of office spaces in Prague. The summary of specific characteristics that distinguish office spaces market from other real estate market area and the analysis of the Prague office spaces market development between 1997 and 2010 are the integral parts of this diploma thesis. On the basis of discovered facts are the factors affecting the rent defined and their development between 1997 and March 2010 is approached. Defined hypothesis are verified by the empiric analyse of the gathered information.
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The office spaces development in Prague after 1989
Císař, Milan ; Heřmanová, Eva (advisor) ; Sýkora, Luděk (referee)
In the nineties of the twentieth century the Prague office space market looked totally different from its current situation. The demand significantly exceeded the supply on the market and there was an entire lack of high-quality office places, which were built mostly in the city centre. There were predominating small projects of office and residential reconstructions which were limited by historical monument regulation and lack of space in the city centre. As of now the supply is prevailing on the Prague office space market and the situation for developers and tenants has totally changed. The competition of developers has rapidly increased and further increase is expectable. The development of new office buildings has moved from the city centre to the inner and outer city and the developers have focused on the multifunctional complexes, conversion of brownfields and construction of large city districts instead of separate office buildings. Prague office development is comparable with the development in Budapest and Warsaw. Commercialization of the city centre and suburbanization is even typical for all four capital cities in Central and Eastern Europe.
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