The end of the COVID-19 pandemic led to growth in the commercial real estate market in Bulgaria. So far, the biggest winners are the office, industrial, and logistics sectors, since most investors and retailers are still hesitant about the future of shopping centers. According to the latest reports, the available office space in Bulgaria increased by 7% in the second half of 2022, and more than 180,000 square meters of office space were leased during the same period, the highest amount since 2017.
Bosnia and Herzegovina: Key Dilemmas To Solve when Buying Real Estate
In the complex administrative apparatus and historical diversity of Bosnia and Herzegovina, a complex system of Real Estate Registries was developed. What does a buyer need to know in order to protect themselves from the risks that can arise in the purchase of real estate?
Ukraine: Is the Russian Invasion Considered a Force Majeure Event for a Ukrainian-Law Lease Contract?
The laws of Ukraine define force majeure as an extraordinary and unpreventable event, man-made or act of God, which objectively makes impossible the performance of contractual obligation(s) by one or both parties to a contract. Force majeure exempts a non-performing party from liability (penalties) for breach of contractual duty if caused by force majeure rather than from the performance of contractual obligations.
Latvia: Supreme Court Sheds Light on Liability of Building Owners for Accidents on Premises
At the end of 2022, the Latvian Supreme Court finally made a judgment in one of the dozens of civil cases stemming from the so-called Zolitude tragedy. 54 people died and dozens were injured back in 2013, when the roof of a trade center located in one of the suburbs of Riga, Zolitude, collapsed.
Czech Republic: Revised Energy Performance of Buildings Directive – More Practical EPCs?
On February 9, 2023, the Committee on Industry, Research, and Energy voted in favor of a revised Energy Performance of Buildings Directive (EPBD), which is a part of the EU’s new extensive climate and energy legislation known as “Fit for 55”. The main objective of the revised EPBD is to reduce greenhouse gas emissions and the overall energy consumption of buildings by 2030 with the eventual goal of reaching climate-neutral buildings in the EU by 2050.
Austria: Latest Developments in the Real Estate Market
The Austrian real estate market has been characterized by steady growth over the last decade, driven by a strong economy, low-interest rates, and increasing demand from both local and foreign buyers.
Croatia: Strategic Investment Projects – 10 Years Later
Strategic investment project legislation was first introduced into the Croatian legal system through the Strategic Investment Act that came into force in 2013, which, after two amendments (in 2014 and 2016), was replaced by the new Strategic Investment Act in April 2018.