The first two quarters of 2025 were a period of lively activity among investors looking for opportunities in the markets of Central and Eastern Europe (CEE) – according to the JLL and IO Partners report. The growing number of Sale & Leaseback contracts in the logistics and warehouse sector was also a new trend during this period.
“The investment market in Central and Eastern Europe has already emerged from the transition phase and returned to the path of growth. The first half of the year was a time of intensive purchases and many spectacular transactions. The contracts that will be closed in the second half of this year will be completed at the moment, allow us to believe that 2025 will be the best year in terms of investment for the entire CEE region in Pandemia, though dynamics in individual countries, “said Andrea Vacar, Head of Capital Markets CEE, and Partners.
“An additional demand impulse are also consistently improving financing conditions. It is worth noting that buyers are considering all asset classes, if they offer
The right standard is reasonably valued, and their location ensures adequate stability, “he added.
On the WSE with records
As stated, the volume of investment in Poland during the first six months of 2025 amounted to EUR 1.5 billion (a decrease by 11 % compared to the first two quarters of 2024), but during this period 61 transactions were made, which is a record in the history of this market.
“The owners changed mainly retail facilities – with a special indication of commercial parks – and office assets on regional markets. Worth noting was the growing popularity of Sale & Leaseback transactions in the warehouse sector, such as the contract for the sale of two production plants by Eko -Okna for around 250 million euros,” wrote.
“It was the largest transaction of this type in the history of the entire real estate market in the CEE area” – added.
Magazines in the head, but other real estate too
According to JLL experts, the warehouse sector remains the favorite place of entities interested in investing commercial real estate on the Polish market.
“In the first half of 2025, the volume of industrial investments amounted to EUR 694 million, which was the result of as much as 140 percent greater compared to the same period a year ago. It was also the best result for the first half of the year from 2021.” – written.
“This year, the trend of the growing popularity of Sale & Leaseback transactions, both among investors and enterprises seeking opportunities to release capital from their property, has clearly become clear in the industrial sector,” added.
As reported, in the first half of 2025 the volume of investment in commercial real estate amounted to EUR 314 million. Unlike previous years, where the subject of the transaction was large shopping centers, in the first months of this year. Mainly shopping parks and smaller facilities were bought.
In the first half of the year, a record number of 23 transactions was concluded, of which trade parks were subject to 16 of them.
Experts pointed out that in the first half of 2025, the total volume of office investment in Poland reached EUR 414 million.
“Although this result was nearly half as much as in the same period a year ago (800 million euros RDR), it was made up of the second number of transactions in history (23), most of which (13) were concluded outside Warsaw” – it was written.
At the head of Kraków and Wrocław
It has been added that the vast majority of them are acquisitions in Krakow and Wrocław. In Warsaw, 10 sales transactions of office real estate were carried out in Warsaw, which accounted for 53 percent. turnover in the first half of 2025
“The Polish commercial real estate market achieved good results in the first half of 2025. A large number of transactions in the office and commercial sectors were recorded, which indicates the persistent interest of investors in these asset classes,” said Dmytro Havrynko, Head of Capital Markets, JLL.
“On the other hand, large Sale & Leaseback transactions in the warehouse sector played a significant role in building the general volume of investment. The increasing part of the investment came from domestic sources, and Polish capital, represented mainly by private investors, gained more importance on the market. Considering Poland's economic diversification and positive GDP growth forecasts, perspectives for the second half of 2025 they remain positive, “he added.
What about the apartment?
According to experts, although the year 2025 began cautious, investors trust in the Polish housing sector is still growing.
“After a record low level of investment of EUR 60 million in 2023 and a later increase to EUR 160 million in 2024, the market is ready for a significant revival in 2025” – written.
It has been added that the availability of financing is improving due to the loosening of monetary policy in Poland.
“The sale of flats to end customers by housing developers is deteriorating. The result of this is a record large offer of premises on the market. This situation may increase the readiness of developers to cooperate with institutional investors” – he assessed.
Big interest also in the Czech Republic and Hungary
According to experts, the Czech Republic also benefited from great interest of investors and strong economic foundations. The volume of transaction in the first half of 2025 exceeded EUR 2 billion there – more than in the whole last year.
It was added that in Hungary the interest of investors in local assets was also much higher than in the same period of 2024 during the first six months of this year. Real estate was bought there for around EUR 300 million, which corresponded to 70 percent. total volume for 2024.
“Compared to last year, the situation also improved in Slovakia, where real estate for EUR 320 million was sold. The volume of transactions increased by 169 percent compared to the same period in 2024” – written.
It was added that in Serbia offices enjoyed the most, and the slight cooling of the investment market in the first half. 2025 was observed in Romania. The result of EUR 386 million is 7.4 percent. lower than in the same period a year ago.
JLL said that despite geopolitical turmoil (new customs rates in the USA, war in Ukraine) and the persistent atmosphere of uncertainty, the investment market in the EMEA region maintains good condition.
“Significant cuts of interest rates by the European Central Bank and – slightly smaller – by Bank of England. In the first half of 2025, EMEA invested EUR 95.7 billion in the region of EMEA, which is 21 % better than in the same period a year ago, contributed to this.
The leader of growth was Great Britain from EUR 28.5 billion (+52 percent). South Europe (+50 %), Nordic (+33 percent) and Central and Eastern Europe (+47 %) also aroused great interest of investors.
JLL is an advisory company that provides comprehensive services on the real estate market. (PAP Biznes)
Gaw/ Ana/
