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Part
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Residential Real Estate: CEE Regional Market (V4)
Key Takeaways
- The number of residential real estate transactions in Poland in 2020 was 53,000.
- The number of residential real estate transactions in Romania in 2020 was 602,805.
- The number of residential real estate transactions in Hungary in 2021 was 150,975.
Introduction
The required information regarding the residential real estate market in the Central and Eastern Europe (CEE) region as a whole and for three additional countries in the region is contained in the attached spreadsheet.
Contained in this report is the total number of residential real estate transactions performed annually in Poland, Romania, and Hungary. Also contained in this report is the average value of new residential real estate transactions in euros/square meter in Poland, Romania, Hungary, and the CEE region. The research team was not able to determine the total value or growth of residential real estate transactions for the CEE region, Hungary, Poland, and Romania, however, we have provided the total value of their real estate transactions (which includes both commercial and residential real estate) in the corresponding cells as helpful findings. Our research strategy and other helpful findings have been detailed in the Research Strategy section.
Summary of Findings
- The number of residential real estate transactions in Poland in 2020 was 53,000.
- The number of residential real estate transactions in Romania in 2020 was 602,805.
- The number of residential real estate transactions in Hungary in 2021 was 150,975.
Research Strategy
For the Central and Eastern Europe (CEE) region, Hungary, Poland, and Romania, we were unable to find the average value of residential real estate sales transactions or the total value for the year. We have used one of the countries (Romania) to describe the steps taken to find the missing data points.
We began by searching through the reports published by each country's real estate/land Agency. For instance, we searched through the reports published by Agentia Nationala de Cadastru si Publicitate Imobiliara (ANCPI) (Romanian national agency for mapping and real estate). Through this strategy, we hoped to find either the value of the average value of residential real estate sales transactions or the total value for the year. This strategy proved abortive as we were unable to find such information on their website.
Next, we searched across multiple third-party housing/real-estate transaction information aggregators and publishers, as well as industry reports, including Avision Young, Imoteca.ro, Knight Frank, and CBRE, and still did not find the required information. Additionally, we scored through press releases, news publications, and industry reports such as Property Forum, CWE Chinox, and eRED Real Estate, and met a similar fate. Most of the sources we found only provided information regarding key cities in Romania. For instance, Avision Young and Imoteca.ro provided the prices of houses per square meter in Bucharest and several other top states/cities in the country. In addition, the reports only pointed out that residential real estate value in Romania as a whole increased by over 4.1%. However, it failed to mention the exact value worth before or after the increase.
We also expanded the search width to include reports published by the European Union regarding the country's construction space, all to no avail.
For the Central and Eastern Europe (CEE) region as a whole, we searched through industry reports provided by Deloitte, Statista, and EY, but did not find the information.
During our research, we found a report by CWE Chinox, which provided us with the Euro value of all real estate transactions in the Central and Eastern Europe (CEE) region, Romania, Hungary, and Poland. With the knowledge of this, we attempted to triangulate the total value of residential real estate sales transactions for the CEE region and the three other countries using the share of residential transactions per year. However, this strategy was also stunted by the unavailability of the share of each country's residential real estate sales transaction for either 2020 or 2021 as a percentage of the total real estate transactions in each country and the CEE region. We have therefore provided this general real estate data as our helpful findings.
Additionally, we were unable to find information on the CAGR of the residential real estate market or the CAGR of the residential real estate transaction number over the past 20 years. For this and the other missing data points, we have entered N/A.