The CEE investment market maintained positive momentum in the first half of 2026. Total investment volume across Poland, the Czech Republic, Hungary, Romania and Slovakia exceeded €5.5 billion, representing a 6% year-on-year increase. According to Knight Frank, improving economic fundamentals, resilient occupier markets and attractive pricing continue to support investor activity across the region.

Poland and the Czech Republic Lead the Region

Poland remained the largest investment market in CEE, accounting for 55% of total regional investment volume in H1 2026. The Czech Republic followed with a 26% share and approximately €1.5 billion in completed transactions. While Czech investment volumes were lower than the record-breaking levels seen in 2025, the market remained highly liquid and continued to attract strong investor interest.

Czech Capital Remains the Most Active Investor Group

Domestic and regional capital continue to drive the recovery of the CEE investment market, with Czech investors standing out as the most active source of capital. During H1 2026, Czech investors deployed approximately €2 billion across the region, accounting for 36% of all capital invested in CEE commercial real estate. Within the Czech Republic, domestic investors represented 75% of total investment volume.

Offices and Living Sector Attract Investor Demand

Office properties accounted for the largest share of investment activity, representing 27% of total CEE investment volume, followed by retail (25%) and the living sector (21%). The residential sector continued to gain momentum, supported by major Build-to-Rent transactions in both Poland and the Czech Republic, including Wood & Company's acquisition of a portfolio of 760 rental apartments in Prague.

Outlook for H2 2026

Investor demand is expected to remain strong during the second half of the year, supported by healthy macroeconomic fundamentals and limited new office supply in key regional cities. In the Czech Republic, total investment activity is forecast to approach €3 billion in 2026, with Prague offices, industrial assets and the living sector expected to remain key areas of investor interest.

The first half of 2026 confirmed the resilience of the CEE investment market. Strong economic growth prospects, improving liquidity and growing investor confidence continue to support transaction activity across the region. Czech investors remain at the forefront of this recovery and are expected to play a leading role in shaping investment activity both within CEE and beyond.

The full CEE Investment Market H1 2026 report is available for download below the article.e for download below the article.