In the past 15 years the countries of the CEE region have been coming into line economically and politically with Western Europe. The accession of these states to the European Union in 2005 underscored this process. The spending power of the population is growing and fuelling both economic growth and foreign demand. The wage level for skilled workers and prices in the capital cities of Prague, Budapest and Warsaw in particular are already on a par with the reference values of comparable metropolises in Western Europe. For the property market this development is associated with growing demand for high-quality buildings for all types of use. Cross-border direct investments in this sector have been rising strongly for years. This has resulted in rapidly diminishing returns. With average values of 5.6 to 5.8%, they are only slightly higher than in Austria and Germany.