The CEE commercial real estate market demonstrated exceptional recovery and growth in 2024, with total investment volume reaching EUR 8.6 billion, representing a substantial 66% increase year-on-year. Poland emerged as the dominant market, accounting for 59% of total regional volume with EUR 5 billion in investments, followed by the Czech Republic at 19% with EUR 1.7 billion. The investment activity across the region showed balanced sector distribution, with retail leading at 33%, office following at 31%, and industrial comprising 24% of total volumes.
Poland's remarkable performance, showing a 139% increase from 2023, was complemented by significant growth in other markets, including Romania's 53% increase to EUR 747 million and the Czech Republic's 46% year-on-year growth. Bulgaria achieved its highest investment volume since 2018 at EUR 366 million, while Slovakia experienced a market rebound in H2 2024 after a subdued first half. Hungary, however, faced challenges with investment volumes reaching their lowest level of the decade, primarily concentrated in properties valued under EUR 30 million.
The market showed clear signs of stabilization in property values and increased investor confidence, particularly in the latter half of 2024, driven by more favorable financing conditions and narrowing gaps between buyer and seller expectations. This recovery was further supported by the return of institutional investors and increased cross-border investment activity, though performance varied significantly across different countries and sectors.
