CEE & SEE Industrial Market: Production Drives Growth as Vacancy Edges Up in Q4 2025
The industrial real estate market across Central and South Eastern Europe (CEE & SEE) remained resilient in Q4 2025, supported by strong production output and a stable occupier base.
Total modern industrial stock across the monitored markets reached 37.1 million sqm, with more than 2 million sqm of new space delivered during the year and 3.12 million sqm currently under construction. Net take-up in 2025 climbed to 3.21 million sqm, up 18% year-on-year, confirming sustained occupier confidence despite a more complex macroeconomic backdrop.
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Production accounted for 38% of total net demand in 2025, reinforcing the region’s role as a key European manufacturing and nearshoring hub. Logistics and distribution each represented 28% of demand, reflecting continued supply-chain optimisation and the expansion of 3PL operators. While vacancy increased year-on-year across several markets—reaching 6.0% regionally in Q4—fundamentals remain solid, with vacancy levels expected to stabilise around current levels. The rise in availability has been most visible in Hungary and Slovakia, although leasing activity remains healthy.
On the investment side, selected transactions in Q4 included the €100 million Contera Portfolio acquisition in Slovakia and several portfolio deals in Czechia and Hungary. Prime rents have remained broadly stable across the region, supported by slowing speculative development and sustained demand for modern, high-quality space. With developers increasingly cautious and occupiers upgrading to more efficient facilities, the market outlook for 2026 remains constructive, driven by production growth, automation trends and ongoing supply-chain diversification.
Regional Director Industrial Agency
