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Office building value €1 bln in 2005

The market value of office building facilities in Budapest in 2005 is expected to be the same record of €1 billion reached in 2004, CEO of international real estate consultant CB Richard Ellis Adrienne Konthur told reporters on Tuesday. In CBRE's estimate, the volume of capital to be invested in real estate in Central and Eastern Europe stands between €15 billion and €20 billion, out of which €5.5 billion worth of investment is expected to be completed by the end of 2005, Konthur said. The most popular target capitals of these investments in the region are still Warsaw, Prague, Budapest and Bratislava, she said.