Cee Investment Market Update H1 2025

The CEE commercial real estate investment market delivered a robust performance in H12025, with total volume reaching EUR 5.36 billion across seven markets (including expanded coverage to Serbia), representing a remarkable 51% year-on-year increase. This expansion builds on the strong recovery trajectory established in 2024.

The Czech Republic emerged as the regional leader, capturing 39% of total investment volume with EUR 2.08 billion, a striking 187% year-on-year increase that positions the market for a potential record-breaking full year. Poland, while maintaining its significance with EUR 1.71 billion (32% market share), experienced a modest 5% decline as the market stabilized following its exceptional 139% growth in 2024. 

Slovakia delivered the most impressive growth rate at 315%, reaching EUR 536million and accounting for 10% of the regional volume, driven primarily by large industrial portfolio transactions, including the landmark EUR 100 million (out of a total of EUR 470 million) Contera Portfolio acquisition by Blackstone. Hungary demonstrated a solid recovery, with 51% growth to EUR 275 million, while Bulgaria achieved 70% growth to EUR154 million.

Sector distribution remained balanced, with industrial assets leading in Slovakia (58%), offices dominating in Bulgaria (70%) and Serbia (41%), while retail showed particular strength in Romania (42%). The H12025 performance—reaching nearly 60% of 2024'sfull-year total—indicates strong momentum heading into the second half, supported by regional economic resilience, yield stabilization, and the continued return of institutional capital.

Hungary achieved a solid recovery in H1 2025, led by office investments and industrial assets. Domestic capital accounted for 55% of the total volume, with most transactions remaining below EUR 25 million. The HelloParks industrial sale highlighted continued strength in logistics, while office deals demonstrated renewed investor confidence.