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Deloitte Real Estate Confidence Survey for Central Europe 2025 – the seventh edition of the report presenting the prevailing sentiments in the real estate industry

We would like to invite you to read the seventh edition of our Real Estate Confidence Survey for Central Europe 2025, in which we asked board members, managers and professionals working in the real estate industry in Central European countries about their opinions on the current condition of the real estate sector, the changes that have taken place in this area over the past months and predictions about the future of the real estate market

Real Estate Confidence Survey for CE 2024 – report on real estate market sentiments

January 2025 

Key findings:

  • Cautious optimism prevails despite ongoing challenges over 80% of respondents expect economic stabilization or improvement. Sentiment regarding debt financing is also improving. However, less optimistic moods can be observed in the assessment of the tax climate. Although expectations for economic stabilization prevail, the number of indicators predicting deterioration are still high.
  • An improvement in sentiment can be seen within the investment market. More than half of the respondents expect that activity and volumes of investment transactions in CE will increase in the near future. Investors' opinions on the efficiency of their investments in 2025 are predominantly optimistic. 45% of our respondents believe the efficiency of their investments to improve. Almost the same number expect stabilization while only 13% foresee a decrease.
  • For developers, labour costs and availability related to construction have emerged as the primary concern, overtaking project financing. The persistent challenge of plot acquisition remains one of key issues for 18% of survey participants.
  • Advisers expect a relatively stable year for the real estate market and present a more moderate sentiment compared to investors both in terms of margins/investment efficiency and investment plans.
  • Emerging sectors, such as new energy infrastructure, data centers and healthcare are most often indicated as the most attractive and are expected to develop dynamically withing next five years. More than 20% of survey participants identified them as areas they intend to focus on in 2025.
  • While sustainability is increasingly important, the market is still in an adaptation phase, with varied expectations regarding the practical implications of ESG factors on investments and property valuations. A pragmatic approach dominates, as the majority of respondents predict that market participants will be interested not only in ESG-compliant properties, but also non-compliant assets. On the other hand, most respondents expect there will be up to a 15% price difference between ESG-compliant and non-compliant properties.
  • The greatest optimism can be seen among representatives of real estate sector in the Czech Republic, while the worst prospects for the coming year are from respondents relating to Romania. Among the respondents from Poland, there is a rather moderate optimism, aimed at adapting to current market conditions.

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