ADVERTISEMENT

20% rise in property investment value expected 

Analysis

A yearend pickup is expected to lift the value of property investment in Hungary to HUF 1.2 billion-1.3 bln this year, 20% over last year's level, the head of the Property Developers Roundtable (IFK) Ernő Takács said, according to napi.hu.

Takács said that data from consultancy CBRE show investment volume on the property market reached EUR 750 million in the year until October but augured a "serious year-end sprint."

He said office space has accounted for 85% of property market turnover this year, up from around 40% before the pandemic. He added that retail space, which earlier made up about 40% of transactions, now accounts for under 5% of turnover.

Around 120,000 sqm is being added to the office space market this year, and the total area in Budapest could climb over four million sqm by March 2022, he said. Next year, property market investment in Hungary could reach EUR 1.5 bln-1.7 bln, he added.

ADVERTISEMENT

PMI edges down to 52.2 in November Analysis

PMI edges down to 52.2 in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Magyar Bankholding chairman to serve as CEO as well Appointments

Magyar Bankholding chairman to serve as CEO as well

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.