CEE & SEE Industrial Market Q2 2026: Demand Holds Firm as Vacancy Rises
CEE & SEE industrial markets remained resilient in H1 2026, with stable occupier demand, manufacturing-led activity and rising vacancy from new supply. Total stock reached 38.5 million sqm, vacancy stood at 6.9%, and 2.83 million sqm was under construction. H1 net take-up reached 1.318 million sqm.
Manufacturing Leads Regional Demand
Production accounted for 47% of H1 2026 net take-up, excluding undisclosed tenants and data for Bulgaria and Croatia. Logistics represented 31%, distribution 18% and other sectors 4%. Selected Q2 leasing deals included 52,400 sqm at CTPark Bucharest West, 45,800 sqm at CTPark Vecsés and 41,800 sqm at Prologis Park Prague Airport.
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New Supply Expands Occupier Choice
Around 1.3 million sqm of new stock was delivered across the region in H1 2026, while Q2 completions reached 0.59 million sqm. Vacancy varied widely by market, from 1.2% in Bulgaria and 4.3% in Serbia and Croatia to 13.2% in Hungary. Higher completions are increasing space availability and creating more choice for occupiers.
Prime Pricing and Investment Interest
Prime rents ranged from EUR 4.75/sqm/month in Romania to EUR 11.00/sqm/month in Germany. Prime yields ranged from 4.50% in Germany to 8.00% in Romania and Serbia. Selected Q2 investment transactions included HelloParks FT1 in Greater Budapest at approximately EUR 45–50 million, while investor sentiment remained positive towards prime industrial and logistics assets in core locations.
In the next half-year, the key themes to watch are manufacturing-led demand, new completions and vacancy levels across individual markets. Occupier demand remains resilient, while rising availability continues to give occupiers more choice.
Regional Director Industrial Agency
