CEE Retail Parks Thrive as Consumer Spending Rebounds

Central and Eastern Europe’s retail sector is entering a new phase of expansion, with retail parks emerging as one of the region’s most resilient property segments. A steady recovery in household consumption, supported by slowing inflation and stronger real wages, is fuelling renewed confidence among investors and developers across the CEE, Baltic and Balkan markets.

While growth patterns differ by country, the overall momentum is clear. Bulgaria and Poland are among the fastest-growing retail markets, both recording solid year-on-year increases in sales, while Czechia and Hungary continue to show consistent spending levels. Romania and Slovakia are seeing a more gradual improvement, linked to fiscal constraints and wage pressures. In the Baltics, Lithuania leads the rebound, whereas Estonia and Latvia remain cautious. In the Western Balkans, Croatia and Montenegro benefit from tourism and deeper EU integration.

Retail parks are at the centre of this regional evolution. Analysts note that the format now accounts for more than half of new retail space under construction across the CEE-6 countries, driven by demand for accessible, affordable, and convenience-based shopping. In Poland, retail parks have grown from a marginal share of modern retail stock a decade ago to more than one-fifth today. Similar trends are evident in Czechia and Hungary, where regional cities and suburban zones are becoming prime destinations for new developments.

Developers are increasingly targeting smaller towns that lack modern retail options, often anchoring projects with discount and value-oriented brands such as Pepco, Jysk, Lidl and KIK. At the same time, many new parks integrate cafés, leisure zones and healthcare or community services, transforming them into local hubs rather than purely shopping destinations.

Investment strategies are also evolving. Regional players continue to dominate the ownership landscape, but international groups such as Saller, Immofinanz, CPI, BIG Group and Pradera are expanding their portfolios through multi-country acquisitions. Typical rental levels range between €6 and €14 per square metre per month, depending on the type of tenant and location.

“Retail parks in Central Europe have shown remarkable adaptability,” said Katarina Brydone, Managing Director at Colliers Czech Republic. “They meet shifting consumer expectations for convenience and value while offering investors a stable, defensive asset class.”

Market observers expect this resilience to persist as domestic demand strengthens and EU-supported infrastructure and green investments spread across the region. The format’s flexibility—combining retail, leisure and essential services—is likely to make retail parks an enduring feature of the CEE consumer landscape, bridging the gap between traditional shopping centres and neighbourhood commerce.

Source: Colliers