ARTICLES LABELLED WITH TAG Hungary

The Hungarian property developer is putting 500 more homes up for sale in the centre and the green belt of the capital. 

The first phase of Budapest ONE, developed by Futureal, has received a WELL Platinum certification. The office building was the first in Hungary to meet the highest requirements of the International Well Building Institute (IWBI).

The sale comprises eight properties totalling around 109,000 sqm of lettable space with an annual rental income of approximately €16 million, plus one plot of land. 

White Star Real Estate has sold the 17,000 sqm Krisztina Plaza office building in Central Buda. The name of the buyer was not disclosed.

CEE-based flex office operator New Work continues to expand in its key markets. In Budapest, the company opened the second phase of its business centre in the Science Park office building in South Buda, adding 2,000 sqm of high-quality flex office space to the local market. In Warsaw, New Work opened a brand location, offering 1,135 sqm, in the Tulipan House office building in the city’s Służewiec district.

Lithuania was found to have the best record, Hungary came second and Iceland third. Altogether 34 countries were ranked by the Australian home loan comparison site, Compare the Market.

Rising energy prices and construction costs, the volatility and depreciation of the forint against the euro, rising interest rates and tightening financing conditions all represent challenges for the actors over the short term, the Hungarian National Bank (MNB) states in its fresh outlook. 

The 143,000 sqm logistics facility of the Danish furniture retailer will serve more than 200 retail units in Hungary, Slovakia, Croatia and Slovenia. Online sales will be managed also from this centre. The complex was built by the Hungarian construction company Market Group.

In the first quarter, second-hand home prices increased by 8.9%, and new ones by 6.6%. As for the second quarter, the figures were 6.3% and 3.3%, respectively, the Central Statistics Office reports. 

We can see more interest coming from government entities to rent office space in modern office buildings in CEE. We also see large companies centralising their office spaces in a single building. Property Forum asked Tomasz Lisiecki, CEO of TriGranit about his assessment of these trends.