Across Czechia, Hungary, Romania and Slovakia, the combined investment volumes in the first three quarters of 2024 totaled close to €2.1 billion, down by 9% versus the same period of last year. The leading market in CEE was Czechia with a share of 50% of the total investment volume, followed by Romania with 31%, Hungary with 10% and Slovakia with 9%.

“Romania stands out in the region with a positive evolution compared to other countries, and we expect the transaction volume in 2024 to reach the average of the last five years (€850-900 million). The industrial and retail sectors remain the most attractive and liquid. Yields seem to have reached a ceiling as financing costs have decreased. Regional capital is increasingly important and supports long-term growth prospects in CEE," says Andrei Văcaru, Head of Capital Markets CEE at iO Partners.

Across the CEE, the biggest deal closed by Q3 2024 was the sale of the Arkády Pankrác retail project in Prague for €265 million. Next came the sale of Globalworth's logistics projects to CTP in Romania for €168 million and the sale of Václavské náměstí 42 offices in Prague for €132 million.

Looking at prime yields, they increased in the office building segment in Q3 2024 compared to Q3 2023, by 0.25 bps in Hungary (6.75%) and by 0.1 bps in Czechia (5.25%), while in Romania and Slovakia they remained at the same level of 7.75% and 6%, respectively. 

In the case of shopping centres, prime yields increased by 0.25 bps in Hungary (7.25%) and Romania (8%), stagnating in Czechia (6%) and Slovakia (6.50%).

For the industrial segment, they recorded an increase of 0.25 bps in Romania (8%) and Hungary (7%), remaining unchanged in Czechia (5.15%) and Slovakia (6.25%).