Gránit Asset Management's residential division, Grandit Homes, has reached a 100% occupancy rate for its inaugural project just one year after entering the market.
The 110-apartment project in Budapest highlights the growing demand for professionally managed, institutional rental housing as an alternative to homeownership.
Álmos Mikesy, CEO and Chairman of the Board at Gránit Asset Management, said: "For many, achieving homeownership is a serious challenge even today, which is why interest in secure, transparent institutional rental housing is growing."
This difference points to a less mature rental culture in Hungary, where the market is less dominated by institutional investors. Grandit Homes is aiming to change this by providing reliable and flexible solutions for tenants.
He also added that Gránit Asset Management is actively involved in modernising Hungary’s new housing stock and expanding the number of modern, energy-efficient homes.
Gránit Asset Management plans to continue expanding its residential portfolio, and is in talks to acquire smaller packages of 30-50 apartments as well as larger portfolios.
According to the latest census data, around 4 million residential properties are in use in Hungary, with owners living in 90 percent of them, while 9 percent are inhabited by tenants.
