CBRE: Commercial real estate produces €300 mln in H1
The Hungarian commercial real estate investment market produced a nearly €300 mln turnover in the first half of the year, of which income-producing assets valued at €250 mln changed hands. This figure fell short of prior expectations because the closing of some transactions were postponed to the third quarter, Gábor Borbély, Head of Research at CBRE Hungary said in a press release issued today.
According to Borbély, apart from seasonal justifications, the uncertainties surrounding the Greek crisis also played a role in the summer slowdown, as it prompted several investors toward generally cautious behavior. He added that the second half of the year could in fact be much stronger, the pending transactions alone could double turnover.
Borbély believes that by early fall it will be easier to determine what kind of larger transactions will close the investor spurt by December and how much this yearʼs sales will surpass last year’s 470 mln turnover.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.