CEE Office Market Figures Q4 2024

The 2024 office market in the CEE region showed a weakening dynamic both on the demand side and, even more so, on the supply side. According to our forecast, a turning point may come in 2025 and the market dynamics will improve. Due to the improving economic outlook, the demand side may also be more courageous this year. Total leasing activity remained at roughly the same level in 2024 as in the previous year, but the share or renewals accounted for more than half of total demand last year (53% in the core CEE markets). As a result, annual take-up level decreased by 8% y/y, similar to net absorption.