CEE Real Estate Investment Reached EUR 5.8 Billion
Domestic capital drove a 7% year-on-year increase in CEE-6 market activity during the first half of 2026.
Updated on Sept. 29, 2026 in Commercial
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Commercial real estate investment volume across CEE-6 markets totaled EUR 5.8 billion in the first half of 2026, marking a 7% increase compared to the previous year. Domestic capital dominated the landscape, accounting for 75% of total regional investment.
Why it matters
Domestic buyers have become the primary drivers of regional investment as international capital movement remains constrained. These investors are increasingly focusing on retail properties as defensive, income-generating assets that meet the needs of local communities.
Investment volume across the region reached EUR 5.8 billion in H1 2026, led by EUR 1.98 billion from Czech capital and EUR 700 million from Hungarian capital. Budapest saw EUR 560 million in transactions during the same period.
The players
Appeninn Asset Management Holding
This is a Hungarian-based investment firm that recently acquired a retail portfolio in Poland.
Dekada S.A.
This is the Poland-based commercial property developer that sold 11 retail assets to Appeninn.
Colliers
This is a professional services and investment management company that provided market forecasts for 2026.
Avison Young Hungary
This is a commercial real estate services firm that tracks transaction volume trends in Budapest.
The details
Appeninn Asset Management Holding recently expanded its portfolio by purchasing 11 retail properties in Poland from Dekada S.A. for over EUR 100 million. The acquired assets comprise approximately 53,000 square meters of gross leasable area, with advisory support provided by Indotek Group, Cushman & Wakefield, Greenberg Traurig Poland, and Sentient.
Timeline
2021 was the last year Budapest annual transactions exceeded EUR 1 billion.
2025 saw Czech capital deploy a record EUR 5.4 billion.
H1 2026 marked the period when CEE-6 investment reached EUR 5.8 billion.
2026 year-end is the target for projected Budapest annual transaction volume.
Roadmap
The shift toward domestic capital marks a departure from historical reliance on international institutional funds. As investors prioritize resilient income, these regional players are increasingly consolidating market share through defensive assets.
The acquisition of these 11 retail properties may lead to changes in property management or service offerings for local shoppers in Poland. Tenants and consumers can expect continued focus on maintaining these sites as reliable hubs for local community needs.
The takeaway
Regional real estate markets in Central and Eastern Europe are increasingly sustained by domestic capital rather than external investment. Investors looking to enter these markets should focus on the resilience and ESG performance of retail-based assets.
Further reading
For broader trends in regional property markets, visit the Commercial section.
Source note: This article includes information reported by Budapest Business Journal.
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