Favorable Outlook for Commercial Real Estate in 2024

Analysis

The outlook for the commercial real estate sector next year is favorable, according to real estate asset management company Gránit Pólus, after participating in an international commercial real estate market event presenting the sector's leading trends in Cannes, writes profiline.hu. 

According to the announcement, the commercial real estate sector is currently not having its best year, but the situation may improve in 2024, especially in terms of occupancy and new investments. 

Miklós Gyertyánfy, deputy chief operating officer of the Gránit Pólus Group, which operates the Westend multi-functional building complex, emphasized in the announcement that players in the commercial, entertainment industry, hospitality industry and real estate market will have put the growth of the sector in perspective by 2024. 

That is supported by the currently strengthening European average of a 3.5% vacancy rate, as well as a higher new investment rate compared to other real estate sectors.

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