CBRE: H1 property investment exceeds 2015 total
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As in most countries in the CEE region, real estate investment volume in Hungary in the first half of this year significantly exceeded early expectations, surpassing the entire registered value in 2015 by the end of the half, a report by real estate services firm CBRE said today.
During the first half of 2016, a total of €734 million of income-producing commercial real estate changed hands nationwide, which is identical to the amount for the whole of last year, according to CBRE. In addition, a further €105 mln worth of other - not income-producing - real estate was purchased, CBRE added.
While most of the office market was driven by single-asset deals, the larger share of the industrial property market volume came from international portfolio transactions. Premium properties changed hands in all sectors, but continuously strong demand for secondary products is also noticeable, which may be explained by several years of improving market fundamentals and the increasing risk appetite of investors, according to the report.
On the demand side, in addition to domestic real estate funds active for many years, American venture investors carry increasingly significant weight. More recently, German institutional investors have also become more active, although their entire market share is still far below the levels before 2008, CBRE added.
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