Real estate investment activity in Poland, the Czech Republic, Slovakia, Hungary and Romania more than doubled in 2011 to EUR 6.1 bn from EUR 2.9 bn the previous year, according to global property adviser Cushman & Wakefield.

Poland continues to lead the region with EUR 2.58 bn transacted in 2011. However, the Czech Republic experienced the largest increase in transaction volumes year on year, soaring from EUR 479 mln in 2010 to EUR 2.2 bn in 2011.

Hungarian investment volumes trebled from EUR 240 mln to EUR 728 mln, while Romania saw volumes edge up from EUR 241 mln to EUR 320 mln. Slovakia also saw transaction activity mushroom to EUR 263 mln from EUR 53 mln the previous year.

Transaction volumes in Central Europe had been expected to exceed EUR 6 bn in 2011 following a strong performance in Q1 and especially Q3. However, momentum was lost in Q4 as investors assessed the market turmoil that returned to the Eurozone, and bank lending slowed.