Responding to the extremely buoyant demand, Hungarian residential property developer Cordia is adding more than 300 new homes to its supply by the end of the year. This move will increase the number of new homes available in Budapest's 8th district by a third, while in the 1st district the company's development will essentially represent the entire new home supply. The company, a member of the Futureal Group, will have a record year this year, delivering around 50% more homes than last year and tripling the number of apartments sold.
Cordia is adding more than 300 homes to its supply portfolio in three developments. The projects totalling more than 26,300 sqm of gross floor area, will be developed in three districts of Budapest: the i6 Residence near the popular Corvin Promenade in the 8th district, the Millennium Residence in the urban regeneration area of the 9th district, which is undergoing a complete transformation, and the exclusive Naphegy12 condominium in the prestigious central area of the Buda side of the capital, next to Buda Castle.
Together with these new developments, there are more than 800 homes are available in Cordia’s portfolio, which means that the company now accounts for 12 percent of the Hungarian capital's total new home supply, or one in eight new homes. The projects just announced will increase the total supply of new homes in the 8th district by 35 percent, and by 13 percent in the 9th district. In the 1st district the project of Cordia essentially represents the total supply of new homes, with only two new builds available in other developments.
A common feature of Cordia's developments is that the National Bank of Hungary’s Green Home Loan, which helps people to buy energy-efficient homes, is available for the purchase of these apartments. All of these buildings have landscaped internal gardens, so ground floor apartments have garden connections while upstairs homes have spacious balconies.
"We have crowned a record year for Cordia this year by putting on sale a further 300+ homes in the final month of the year. This year, we will deliver around 1,500 homes in the Hungarian market, an increase of over 50% compared to 2020 and three times the 2019 performance. In addition, the year as a whole will see the sale of nearly 1,000 homes on the domestic market, almost triple last year's figure. Currently, we have more than 1,300 homes under construction in Budapest, with another 4,600 homes in the pipeline," said Tibor Földi, Chairman of the Board of Cordia International.
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