After two subdued years, core sectors regained momentum. Offices re-emerged as values stabilised in supply-constrained CBD locations, while industrial and logistics continued benefiting from long-income visibility and manufacturing resilience. Hotels rode a full tourism recovery, and retail parks demonstrated their defensive appeal across economic cycles.

Czechia emerged as the standout performer, delivering a record-breaking €4.3 billion in investment volume. The market was driven by domestic real estate funds and private capital, creating stability and rapid execution amid global volatility. Czech investors also exported capital across the region, acquiring nearly €600 million in Poland and €266 million in Slovakia.

Poland retained its position as the region's heavyweight with €4.5 billion in transactions. Nearly 40% of deals closed in Q4 as pricing clarity returned, with domestic capital reaching a historic high of almost €860 million. "What we saw in 2025 was not a return to exuberance, but a return to realism," noted Grzegorz Sielewicz, Head of Economic & Market Insights, CEE. "Investors re-enter the CEE market because pricing, financing and occupier fundamentals finally aligned."

Hungary rebounded to €800 million, supported by a reviving office market and strong tourism. Romania's €500 million masked strong occupier fundamentals, particularly in logistics, while Slovakia approached €1 billion, driven mainly by retail consolidation. Bulgaria held steady at €400 million, with investor confidence strengthening ahead of euro adoption in January 2026.