In the first half of 2023, volume of transactions in the property sector within CEE-5 (Czech Republic, Hungary, Poland, Romania and Slovakia) surpassed EUR 2 billion, which is 59% less than in H1 2022.
The greater part of this volume was transacted in the first quarter of this year, with only 31% taking place in Q2 2023 – a substantial 72% reduction compared to Q2 2022.
Major deal closings this quarter include the sale of Atrium Palác Pardubice and a 25% share of Arkády Pankrác (CZ) in the retail sector, and the sale of Landerova 12 (SK) and Wola Retro (PL) on the office property market.
In the second half of this year, hopes are laid on improved pricing stability caused by investors gaining clearer insights into price discovery thanks to interest rates reaching their peak.
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On the CEE-6 hospitality market, properties worth EUR 159 million were transacted in the first half of 2023, 21% more than in H1 2022.
Overall, 8 hotel properties were sold, comprising 963 rooms, the major ones being Sofitel Budapest and Courtyard City in Prague. 69% of the capital was from domestic buyers, and 59% of the overall volume was invested in luxury hotels.