The study highlights that the real estate sector in Central Europe is demonstrating resilience and adaptability in the face of global uncertainties, geopolitical tensions, and economic fluctuations.
More than 50% of participants anticipate an improvement in market activity this year, up from 40% a year ago, while the share predicting a decline has fallen to 14%, from 16% in 2024. However, while in countries such as Poland and the Czech Republic, the perception is in line with the regional average, in Romania, 41% of participants predict a deterioration and only 18% expect market activity to increase.
The perception on the economic climate has also improved in the region over the past year – 36% of participants expect a positive development (compared to 29% a year ago) and only 19% anticipate a deterioration. Romania also stands out in this regard, with 57% of participants estimating a worsening of the economic climate and only 14%, a favourable evolution. By contrast, the Czech Republic and Poland exceed the regional average, with 45% and 40% of participants respectively confident about the overall economic outlook.
The fiscal framework will remain stable in the near future in the region, according to 71% of participants, while the majority of those in Romania (70%) expect increase of tax burden.
In terms of sectors perceived as the most dynamic in the next five years, green energy infrastructure leads in the region (67%), but also in the main countries participating in the study - Romania (78%), the Czech Republic (75%) and Poland (68%), followed by data centers (55%) and healthcare (36%).
"The results of the study indicate the market evolves and, despite the current challenges, players are adapting to the new realities and prioritize the areas with important growth potential in the coming years – green transition, technology and healthcare. Romania's distinctiveness is rather related to the overall economic developments and the prospects for adjusting macroeconomic imbalances because, if we look at the predictions regarding the availability of real estate assets in the near future, we see that players in our country expect an increase (58%), above the region average (54%). Romania also presents challenges in terms of the anticipated changes in the real estate legislation – the new Code of Land Planning, Urbanism and Construction comes with many changes and complex secondary legislation that requires time for preparation, implementation and compliance effort from market players," said Irina Dimitriu, Partner Reff & Associates | Deloitte Legal and Real Estate Industry Leader at Deloitte Romania.
A notable addition to this year's study is the inclusion of ESG (environmental, social and governance) requirements as a distinct challenge for real estate companies (12%). And while the real estate market is still in the process of adapting to these requirements, most participants expect ESG-compliant properties to become up to 15% more expensive than non-compliant ones in the coming period. Deloitte has been conducting the Real Estate Confidence Survey for Central Europe since 2019 to find out how professionals in the field perceive the market. Three groups of stakeholders participate in the study - developers, investors and market advisers. In the 2025 edition, the most respondents came from the Czech Republic (32%), Romania (19%), Poland (13%), Hungary (4%), while 32% operate across Central Europe markets.
