Prime yields for apartment blocks, which move in the opposite direction to prices, continue to rise across Europe and stood at 4.35% in Q3 2023, 38 basis points higher than in the first quarter this year, according to research by Catella Group.

Over the past decade, Hungarian real estate investors have successfully expanded outside of their home market. Firms such as Wing, Futureal, Adventum, Indotek and others have become major players in many European countries, mainly Poland and Romania. They managed to expand via acquisitions of both companies and projects. Part of their funds came from bond issues in Hungary within the Bond Funding for Growth Scheme of the National Bank of Hungary. We have prepared a timeline of the notable transactions and an overview of the market’s key players to provide a better understanding of this trend.

The Ostrava-based construction company HSF System has formed a holding structure that includes a total of 26 companies. The new holding company, with sales exceeding CZK 3 billion (€122.2 million), is called Purposia Group. The main reasons for establishing the holding company are to increase efficiency and further expansion plans, HSF System announced. 

Cushman & Wakefield has summarized the third quarter of 2023 on the Polish office market. Office development activity continues to slow down both in Warsaw and in Poland’s regional city markets. Nominal leasing activity remains high in the largest regional cities, with Warsaw reporting a record number of leases.

CEE's modern industrial and warehouse space exceeded 59 million sqm in H1 2023. In twelve months, over 7,6 million sqm was completed, expanding the market by 16%, and currently, an additional 5 million sqm is under construction. With a 19% share of the total size, the Czech Republic is the second largest market in the region, the first is Poland with 52%. The demand is decreasing, but the nearshoring trend presents new opportunities. Cushman & Wakefield presents its latest findings. 

Law firm Kinstellar Bucharest has expanded its real estate practice by hiring Corina Stanciu as Senior Associate and Cristiana Mic-Soare as Special Counsel. 

Stokado, a company owned by Redefine Properties and Griffin Capital Partners, has acquired Top Box, a self-storage rental company. As a result, Stokado has added 4,500 sqm to its portfolio of operating assets and a further 4,500 sqm to the development pipeline.

Real Management S.A. has signed a lease with OEX Fulfilio Sp. z o.o., a company specializing in providing e-commerce solutions, loyalty programs and POS materials. OEX Fulfilio has leased warehouse and office space in the production and industrial park Good Point V. The handover date for the space of 14,550 sqm is scheduled for Q1 2025.

MDC2 and Generali Real Estate have financed the purchase of a natural forest in Gruszowiec in Małopolskie Voivodeship on behalf of MDC2 Park Kraków South, a warehouse project in Skawina near Kraków. MDC2 has been a partner of the Las Na Zawsze Foundation since 2022, supporting it financially and engaging team members in cyclical forest plantings in Poland. The purpose of the initiative is to protect the mature forest for present and future generations.

Indotek Group has announced the strategic acquisition of Galleria Porta Siena on LinkedIn. Galleria Porta Siena, a prime commercial property located in the heart of Siena, joins the group's growing portfolio of Italian retail assets.