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Deloitte Real Estate Confidence Survey for Central Europe 2024 – the sixth edition of the report presenting the prevailing sentiments in the real estate industry

We would like to invite you to read the sixth edition of our Real Estate Confidence Survey for Central Europe 2024, 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.

The results of our survey clearly indicate a slight note of optimism in the real estate industry – developers, investors and advisors expect the situation on the market to improve (40% of respondents vs. 15% of respondents in last year's survey). In addition, the opinions of respondents show much higher hopes than in the last quarter of 2022. A year ago, only 16% of respondents expected the volume of transactions to increase, now as many as half have a positive view in this regard.

The events of recent months and years, such as the Covid-19 pandemic, the war in Ukraine or rising inflation, have had a strong impact on the real estate sector. Today, we can observe a slow, gradual transition from an attitude of expectation of what the future will bring to actions that will help us adapt to the new reality. One of the most interesting trends that can be identified based on the results of the survey may involve a change in the core operations. Every fourth respondent declares that they will shift their attention to another area in the coming months. The trend towards change is the strongest among office and commercial developers, with three out of four and one in two respectively declaring that they will focus on other sectors in 2024. Respondents most often want to concentrate on mixed-use projects and apartments for rent.

However, the emerging optimism on the market has not ruled out some fears and challenges faced by the real estate market. Property developers mention various challenges they would have to deal with in the next year. The issue of financing is considered to be the biggest (26%), securing plots of land for the time of economic recovery has also become one of the main objectives (23% of responses).

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