Highlights 2023 – CEE-6 Real Estate Market8 January 2024
“Highlights 2023 – CEE-6 Real Estate Market” report presents key events shaping the real estate market in the Central and Eastern European countries of Bulgaria, the Czech Republic, Hungary, Poland, Romania, and Slovakia in 2023. The report analyzes key trends that have influenced the real estate landscape in this dynamic region.
The macroeconomic situation in most CEE countries is slowly returning to normal. It is worth noting that ESG issues have become a market standard in all real estate segments. 2023 brought significant improvement to the construction market, characterized by a decrease in construction costs and increased availability of general contractors.
The lack of new office space has become a clear trend in CEE countries. At the same time, there is a noticeable increase in the importance of improving the quality of workplaces and introducing hybrid forms of work as a standard. There is also a growing demand for intelligent office solutions.
In 2023, we observed the opening of both large shopping centers (e.g., in Slovakia) and small retail parks in smaller urban centers (e.g., in Poland). We also observed a trend of renovations, modernizations, mergers, and acquisitions.
Demand for warehouses is returning to pre-pandemic levels in most CEE markets. The dynamic development of the automotive sector further contributes to the region’s dynamics.
Investments and PRS (Private Rented Sector)
The investment market remains dormant, with a noticeable decrease in the number of transactions. It is worth noting the growing trend of the importance of domestic CEE capital in investment transactions. Investors are increasingly focusing on alternative asset classes, and PRS and mixed-use projects are gaining popularity.
In summary, the “Highlights 2023 – CEE-6 Real Estate Market” report shows the dynamic evolution of the real estate landscape in Central Europe.