ADVERTISEMENT

Hungary investment property transactions triple in 2011

Deals

The value of investment property transactions in Hungary jumped to €620m in 2011 from €180m in 2010, according to an analysis by commercial real estate services company CBRE.

CBRE noted that US-based Heitman European Property Partners accounted for more than €200m of the transactions.

Hungary’s TriGranit said late in December it sold a 74% stake in four properties at its Millennium City Center development in Budapest to Heitman European Property Partners IV for almost HUF 45bn (€150m), Econews reported earlier.

Take-up on Budapest’s office space market was close to 400,000sqm in 2011, just 2-3% lower than the all-time high, CBRE said. The vacancy rate fell to 19% at the end of 2011 from 21% a year earlier.

Budapest’s logistics property market stagnated in 2011.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.