Kevin Turpin, Regional Director of Research | CEE at Colliers International, who chaired the panel, pointed out that investments in across six markets in Central and Eastern Europe will stand between €10-11 billion this year, slightly similar to 2020. By comparison, the investment volume in 2019 peaked at €14 billion.

Markus Arnold, CEO & Owner of Arnold Investments, commented that the big winners in the property market are now the sellers, while buyers are dealing with mounting prices that will remain on this path.

We will record a price widening between Class A prime offices and Class B projects, suggested Inga Chkhaidze, Investment Director at Revetas Capital. She added that Class B office buildings will need higher investments to meet the new ESG standards.

Quality assets will always enjoy buyers and the winners in the current market are logistics and residential projects, according to Anna Duchnowska, Head of Asset Management Europe at Invesco Real Estate

Bruno Ettenauer, CEO of S Immo, said that the company’s building stock has to meet the competition for the next 10 years. Ettenauer suggested that a big recovery will come in the office sector, but not in the old buildings segment.

Adrian Karczewicz, Head of Divestments CEE at Skanska Commercial Development Europe, explained that Skanska is actively looking to buy assets across the region, including in Hungary and Poland. In the meantime, Skanska aims to reduce its carbon footprint by 70% until 2030 across the whole development chain.

Average prices per sqm in Romania for residential and hotel projects will have to catch up with those in Central and Western Europe, suggested Alexandru Mihai, Managing Partner at Nordis Group. He added this could convince more investors to make property transactions in Romania.