INDUSTRIAL CEE & SEE MARKET GROUP REPORT - Q1/2026

The industrial market in Central and Southeastern Europe entered 2026 with the strongest quarterly demand in two years. Total net take-up across the group's five countries - the Czech Republic, Slovakia, Hungary, Romania and Croatia - reached over 769,000 sqm in Q1/2026, with the manufacturing sector remaining the dominant driver (36% of total demand), followed by logistics (29%). Key trends include nearshoring, restructuring of European supply chains and growing interest from the automotive industry - not only in the rental but also in the ownership segment. Hungary recorded the highest dynamics with a year-on-year increase in net take-up of almost 96%, while the Czech Republic remains the largest market in the group with a total stock of over 12.8 million m².

On the supply side, the pipeline remains significantly strong, with group construction exceeding 2.32m sqm and planned projects around Ostrava, Bratislava, Budapest and Bucharest signalling further growth. A slight shadow on the market is the increasing vacancy in Hungary (15.1%) and Slovakia (7.7%), where speculative construction has outpaced actual demand. Conversely, Croatia, the Czech Republic and Romania show healthy vacancy rates in the range of 2-6%, with Prague offering the highest rents in the region (prime rents €7.70/m²/month). Overall, the market confirms its resilience and readiness for the next investment wave.