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In the third quarter of 2023, the volume of investments in commercial real estate in Central and Eastern Europe increased by 3% compared to the previous quarter, reaching €1.6 billion. However, compared to the same period the previous year, there was a 43% decrease, according to CBRE data. Poland recorded the highest amount of investments in the region, reaching €741 million.
The value of investments in the Central and Eastern Europe region decreased by 42% compared to the previous year, reaching €1.6 billion. The average value of each transaction was €20 million. The largest transactions involved the acquisition of industrial properties, particularly in Poland and Slovakia. Office properties attracted the most capital, reaching €657 million, while the industrial sector came second, absorbing €467 million. Investments in retail properties amounted to €349 million. €69 million was invested in the residential sector, and €51 million in the hotel sector.
Out of the €1.6 billion invested in commercial real estate in the third quarter, the majority (€741 million) went to Poland. The Czech Republic (€215 million) and Slovakia (€214 million) took the next spots. Capital attracted by Southeast European countries amounted to €170 million, with Hungary receiving €132 million. Lithuania, Latvia, and Estonia collectively recorded investments totaling €80 million. Meanwhile, Romania reported the lowest result in the past quarter, with investors allocating only €62 million to commercial real estate.
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Investments in Commercial Real Estate: Poland Leads CEE with €0.74 Billion in the Third Quarter of 2023
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