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Highlights from
across EMEA
LITHUANIA
Agricultural land, used for
any purpose, including real
estate development, cannot to
purchased by non natives.
LATVIA
Base language for lease
agreements is Latvian. There
can be agreements in two
languages, however the leading
one will be local.
ESTONIA
Rent escalation is commonly
up to 5% annually or tied to
annual CPI.
BELGIUM
Belgium is officially a federal
state, with three regions
(Brussels, Flanders and
Wallonia). In the Brussels
region, regional and district tax
is applicable while this is not the
case in Flanders and Wallonia.
CZECH REPUBLIC
New Civic Code Act has come
into effect bringing about a
significant number of changes.
Occupiers need to be aware of
the implications.
DENMARK
Rent is based upon the gross
area which includes outer and
inner walls, hallways, staircases,
even elevator shafts.
FRANCE
Each lease agreement over
2,000 sq m has to include a
“green” appendix describing
how the landlord and tenant
will work together to upgrade
the energy consumption of the
building.
IRELAND
The introduction of open
market rent reviews has been
positive for tenants however
it has led to some landlords
decreasing the rent free amount
they are prepared to give due to
the uncertainty in their income.
ITALY
Leases are prepared and
concluded within a context
of Civil Code and Law, the
participation of a legal
representative is paramount.
NETHERLANDS
Within real estate, verbal
agreements and handshakes
can be legally binding. Also
acceptance of Heads of Terms
can constitute a legally binding
contract even if a lease is not
signed or agreed.
POLAND
According to the change in
the Polish Civil Code (2009),
the maximum defined period
of time for which the lease
agreement can be concluded
is now 30 years (before the
change it was 10 years).
ROMANIA
A limited amount of statute law
relates to property ownership
and occupation under a lease
agreement: it is open to the
interpretation of the contract
in any dispute and means
both parties can be at risk
if the agreement is not fully
comprehensive.
SOUTH AFRICA
Floor areas and rents are
measured on a gross basis, and
building efficiency will vary
and can range from 70%-90%
net to gross, so checking is
imperative.
SPAIN
In the case of a sub-letting
or assignment, the landlord
has the right to increase the
rent by up to 20%; this is a
legal right; often, as part of
the negotiations, the landlord
waives these rights, but if not,
the legal right remains.
SWITZERLAND
Only lease agreements longer
than five years can be directly
indexed, and the market is
therefore reluctant to sign
shorter leases, although interim
lease breaks are possible
as these do not affect the
indexation rule.
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JAMES MADDOCK
Head of Global Occupier
Services, EMEA
+44 (0)20 3296 3353
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