In June 2023, only 7,120 residential properties changed hands in Hungary, according to the the monthly Transaction Number Estimate (DH-TB) of Duna House Group. This is a very low number again, so even though May was stronger, it seems that buyers are still waiting. We last saw so few sales in the first half of this year in 2014.

Panattoni has signed a new lease contract for the Panattoni City Dock Törökbálint complex, which opened in May. Food wholesaler and distributor Bidfood will lease two-thirds of Building A.

LCP Properties has begun the process of structuring its portfolio with the official launch of the M Park brand. As part of the first stage of the rebranding, LCP has selected 20 out of a total of more than 95 of its existing projects in the country for changes. For three of them, previously operating under the Echo name - in Tarnów, Radom and Piotrków Trybunalski - the process has just been completed. The first stage of image changes within the LCP portfolio will last until the end of this year. 

The first smart hotel of the chain Introvert will open this month in Sofia. The venue will be able to operate without staff. By the end of the year, two more will follow - one on Lege Street in Sofia and another in Cyprus.

CPI Property Group announced the signing of nearly €500 million of new secured bank loans in 3 CEE countries. CPIPG currently has new bank loans in Poland, the Czech Republic as well as Slovakia.

Ziv Gigi, GTC’s Executive Director for SEE, spoke with Property Forum about the new tenants attracted to the City Gate complex in Bucharest, the importance of amenities in boosting the work environment and the growing demand for ESG-ready projects.

More than three-quarters (76%) of office stock across Europe will be at risk of obsolescence by 2030 according to the latest report from Cushman & Wakefield. One of the reasons is the increased level of legislative action around sustainability requiring investors to modernise real estate to ensure ESG compliance. To take one example, commercial property landlords are required in a growing number of cities across North America and Europe to install green roofs that help increase urban biodiversity, optimise energy costs and improve the user experience.

Witold Rafalski joined GTC Poland as the Head of Asset Management and Marcin Zaskurski joined as the General Counsel and Head of Legal Department. 

Panattoni has started further construction for BestSecret, a European online distributor of off-price fashion. The company took the already delivered 90,000 sqm at Panattoni Park Sulechów III into operations in March. As part of the facility expansion, the new contract involves – building an additional 43,323 sqm of warehouse space and 2,632 sqm of office space.

CTP has signed three new deals totalling 31,750 sqm at CTPark Budapest West and CTPark Komárom, both located close to Hungary’s capital city Budapest.