Investment in commercial real estate in the six largest markets in Central and Eastern Europe reached EUR5.8 billion in the first half of 2026, an increase of approximately 7% compared to 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 volume of investments turned out to be higher than the average for the first half of the last five years, which amounted to EUR4.6 billion, and higher than the ten-year average level of EUR5.1 billion.
Poland became the largest market, where the volume of deals exceeded EUR3 billion. It accounted for about 52% of all CEE-6 investments. The Czech Republic came second with more than EUR1.4 billion, while Hungary attracted nearly EUR600 million, showing its best first-half result since 2021.
According to Colliers, the market recovery is different from previous investment cycles. Capital returns are selective, with investors preferring properties with stable income, good location, high energy efficiency and long-term demand from tenants.
Offices became the largest segment, followed by retail real estate, residential properties and institutional leases, as well as industrial and logistics real estate.
Colliers predicts that by the end of 2026, the volume of investments in CEE-6 commercial real estate may reach EUR12.5-13 billion against EUR11.6 billion in 2025 and approach the maximum figures observed before the pandemic.
Among the main risks for the market, experts name high interest rates, rising refinancing costs, geopolitical tensions, weakness of German industry and the cost of energy. At the same time, additional investment opportunities are created by infrastructure projects, the defense industry, the energy transition, artificial intelligence, reindustrialization and the transfer 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 is about $6 billion, the staff is about 28,000 people, and assets under management are about $110 billion.
