CEE region smashes real estate investment record for third successive year
CEE transacted a record 13.23 billion EUR, , with Poland accounting for 7.2 billion EUR
According to JLL, CEE's real estate investment transactional volume for 2018 was in excess of 13.2 billion EUR. Poland smashed its previous record volume set in 2006 with a spectacular 5.05 billion EUR, and secured a massive regional share of 54%. Poland was followed by the Czech Republic (2.51 billion EUR - 19% share) Hungary (1.85 billion EUR - 14%), Romania (900 million EUR - 7%) and Slovakia (820 million EUR - 6%).
"With 13.23 billion EUR in 2018, the CEE commercial real estate investment volume recorded an 11% increase over 2017, and for the third year running set a new record transaction volume for the region. We have seen the most significant volume increase in Poland in 2018 with €7.2 billion traded, a substantial uplift in volumes over previous years. For 2019, we expect continued, strong interest for product in CEE markets although perhaps not quite matching the spectacular levels seen last year. One of the most interesting aspects has been the growth of domestic capital in the Czech Republic and Hungary with 50% and 60% of volumes respectively coming from domestic capital sources. We expect this to continue in 2019. Our current forecast for the full year suggests that CEE regional volumes will total around 11.0 billion euro for 2019", says Mike Atwell, Head of Capital Markets Czech Republic & CEE, JLL.