Investments in commercial real estate across the six largest markets of Central and Eastern Europe reached EUR5.8 billion in the first half of 2026, increasing by approximately 7% compared with the same period last year, according to the Colliers CEE Investment Scene H1 2026 report.
The study covers Poland, the Czech Republic, Hungary, Romania, Slovakia and Bulgaria. The investment volume was above the average for the first halves of the past five years, which amounted to EUR4.6 billion, and above the ten-year average level of EUR5.1 billion.
Poland became the largest market, where the volume of transactions exceeded EUR3 billion. It accounted for around 52% of all CEE-6 investments. The Czech Republic ranked second with more than EUR1.4 billion, while Hungary attracted almost EUR600 million, showing the best first-half result since 2021.
According to Colliers, the market recovery differs from previous investment cycles. Capital is returning selectively, with investors giving preference to properties with stable income, good locations, high energy efficiency and long-term demand from tenants.
Offices became the largest segment, followed by retail real estate, residential properties and institutional rental, as well as industrial and logistics real estate.
Colliers forecasts that by the end of 2026, the volume of investments in CEE-6 commercial real estate may reach EUR12.5-13 billion, compared with EUR11.6 billion in 2025, and approach the peak levels observed before the pandemic.
Among the main risks for the market, experts cite high interest rates, rising refinancing costs, geopolitical tensions, weakness in German industry and energy costs. At the same time, additional investment opportunities are being created by infrastructure projects, the defense industry, the energy transition, artificial intelligence, reindustrialization and the relocation of production closer to European consumers.
Colliers is a global professional services and investment management company operating in more than 70 countries. Its annual revenue amounts to around $6 billion, its workforce totals around 28,000 people, and assets under management amount to approximately $110 billion.
BUSINESS, COLLIERS, EUROPE, EXPERTS CLUB, INVESTMENTS, REAL ESTATE
