Published 11. 11. 2015

Central European Investment Volumes Reach €4.16 Billion

According to Cushman & Wakefield investment activity in the core Central European markets of Poland, Czech Republic, Slovakia, Hungary and Romania accelerated significantly in Q3 with over €1.8 billion invested, compared with €889 million in the previous quarter. Year to date, €4.16 billion has been invested in the region which is comparable to the same period last year.

Commenting on the level of activity during Q1 - Q3 2015, James Chapman, Partner, Head of CEE Capital Markets at Cushman & Wakefield, said, “This result shows that Q3 activity has doubled compared to Q2 as per our predictions. Investment volumes are running some 34% ahead of the 5 year average, evidence of the market’s positive mood, particularly for Poland and the Czech Republic.”

All countries and sectors have posted improvements over the quarter. Poland continued to be the primary destination for international capital as investment activity doubled in Q3 reaching €800 million, compared with €365 million for the previous quarter. Czech Republic is next down the line with €428 mn invested in Q3, followed by Romania and Hungary with €338 mn and €242 mn respectively. This represents a significant rejuvenation for these two markets – a trend that is expected to continue into 2016 and be mirrored in other CEE markets such as Bulgaria and Croatia.

The retail and office assets attracted similar interest and combined, the two accounted for 82% of all investment activity. Office activity is being driven by even stronger than expected occupational results and falling vacancy rates whilst September’s consumer spending figures show impressive growth for the retail sector. The largest transaction in Q3 was the acquisition of the 70,000 sq m Riviera shopping centre in Poland by Union Investment which Cushman & Wakefield’s Capital Markets team advised on. The largest transaction in Czech Republic was a sale of the 50,000 sq m Bluehouse retail portfolio for €62 million.

Commenting on the prospects for the last quarter, James Chapman added “We expect to see an even greater growth in activity in the closing months. Central Europe is attracting an increasingly broad range of investors and we are able to unlock a high standard of opportunities to match the appetite. The volumes in CE will be in the region of €7 billion in 2015 – a figure that is set to increase further in 2016.”
 

 

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