Central and Eastern Europe saw a decisive turn in the real estate market in 2025, moving from a waiting period to an active investment phase. Data from international consultancy Colliers shows that investment volumes in the region's six main markets reached 11.6 billion euros, representing 31% year-on-year growth.
The return of capital has been supported by more disciplined deal structuring, price stabilization and a gradual recovery of liquidity, with local and regional capital playing an increasingly tangible role.
Key sectors back in focus
After two weaker years, key market segments are regaining momentum.
Office properties are once again attracting interest in areas with limited supply and stabilized values.
Industrial and logistics areas continue to benefit from sustainable production and predictable long-term revenues.
The hotel sector reports a full recovery in tourist flows.
Retail parks are solidifying their reputation as one of the most stable assets across economic cycles.
A defining trend for 2025 is the dominant role of local capital, especially in the Czech Republic and Poland, where investors are taking advantage of the more cautious behavior of global funds. This change not only supports the number of deals, but also rearranges the investment map of the region.
Czech Republic with a historic record
The strongest market during the year is undoubtedly the Czech Republic, where investments reach a record 4.3 billion euros - the highest level in the country's history. The deals are dominated by local funds and private equity, which provides unusual stability and speed of transactions despite global economic uncertainty.
Czech investors are also expanding their regional presence, directing nearly EUR 600 million to Poland and EUR 266 million to Slovakia, establishing the country as one of the most resilient investment ecosystems in Europe.
Poland maintains its leadership
Poland remains the largest market in CEE with transactions for 4.5 billion euros. Although the total volumes appear lower at first glance, real activity is picking up significantly towards the end of the year – almost 40% of deals are finalized in the fourth quarter, as price clarity in the market is restored.
Local capital reaches a historic high of nearly EUR 860 million, and interest remains stable in office space, logistics portfolios, retail parks and residential assets.
Liquidity returns to the region
Across Central and Eastern Europe, financing conditions are improving noticeably. Core yields are stabilizing, debt markets are picking up, and banks are showing renewed appetite for long-term, high-yielding, high-profile deals in Prague and Poland, including sales of iconic retail properties and large logistics platforms backed by manufacturing companies, are indicative of the recovery in liquidity. data-end="3261" data-start="3243">€0.8 billion, helped by a recovering office market and strong tourism, as well as interest from Asian electric car manufacturers.
Romania ends the year with €0.5 billion, with the modest volume being supported by strong tenant performance, especially in logistics.
Slovakia reaches nearly 1 billion euros, driven by consolidation in the retail segment.
Bulgaria remains stable at EUR 0.4 billion, with investor confidence gradually strengthening ahead of the adoption of the euro in January 2026.
Outlook for 2026: Moderate but sustainable growth
Colliers' forecast for 2026 is for moderate increase in investment volumes, with the differences between offer and expected prices continue to narrow. Banks remain active lenders for prime assets, and investors are increasingly structuring deals in the core and core+ segments.
The region is gradually positioning itself as a “safe haven” in Europe for capital seeking real returns, stable rental growth and sustainable economic fundamentals. With inflationary pressures easing, interest rates gradually falling and debt markets normalizing, Central and Eastern Europe appears to be on the verge of a self-sustaining investment boom.
As 2025 shows, when assets are offered at market prices, deals are being executed quickly and decisively – a sign that the market is returning not to euphoria, but to realism and pragmatism.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg