CBRE: Hungary’s investment volume doubles in Q1, forecast upbeat
Hungary’s investment volume reached €208 million in the first quarter, nearly double that of the same quarter last year, according to a press release issued by real estate services and investment firm CBRE today.
While the rest of the region, excluding Russia, was down 6% compared to last year, Hungary’s property investment volumes were up 89% quarter on quarter.
“It is worth noting that the dynamics of the market are changing compared to 2015 with more international equity now pointed at Hungary. However, the Hungarian real estate funds remain the most active investors closing the most deals in the range of EUR 20-40 million lot size,” said Tim O’Sullivan head of Capital Markets at CBRE Hungary. The head noted that the largest deal was for Váci Corner Offices by international investor Zeus Capital, and that CBRE expects to see more high profile deals similar to this one in 2016.
CBRE anticipates that investment volumes will reach and even exceed 2015’s record numbers, with all CEE countries expected to perform strongly.
The average transaction price for the region in the first quarter of the year was €24 mln across more than 110 closed transactions, down from last year’s €45 mln across less than 50 transactions, the press release added.
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