According to JLL, commercial real estate markets across Central and Eastern Europe (CEE) are having a good year for commercial property investment activity.
The summer months have again seen a hive of activity across the CEE with a preliminary transaction volume of well over €2.8 billion recorded in the third quarter. This quarterly figure represents one of the strongest third quarters in the market's history and is only marginally short of the record-breaking year of 2007. This activity brings the preliminary year-to-date regional investment volume to more than €5.5 billion and represents a 22% growth year on year.
Kevin Turpin, Head of Research CEE at JLL commented, "With the final quarter of the year often representing one of the busiest periods for our investment teams, and looking at the pipeline of deals that are in advanced stages, we predict that the CEE regional volume could reach the €8 billion mark by the year end. Should the latter happen, it would put 2015 at the highest level since the economic downturn and third highest in the past 12 years".
The Czech Republic currently leads in terms of investment volumes with a share of 43% followed by Poland with 28%, Romania with 11%, Hungary with 10%, Slovakia with 2% and the SEE countries recording improved activity with a 6% share.
Hotel consultant STR is reporting this week that 2015 marked the first year since 2010 in which the European hotel industry passed hotels in the U.S. in year-over-year revenue per available room (RevPAR) growth.