Hungary’s residential market records 15% growth in 2021

04
Jan
2022
News - Hungary’s residential market records 15% growth in 2021 #Budapest #Duna House #Hungary #report #residential

by Property Forum | Residential

Duna House has released its monthly transaction estimate, showing that there were 11,422 residential property transactions in Hungary in December 2021. The tally for the whole year shows 150,975 transactions, which marks a 15% growth over 2020.

Duna House estimates that 11,422 residential property transactions were realised in December 2021, which marks a growth of nearly 4% over November, 10.3% over December 2020 and 12.8% over December 2019.

With last month's result, the number of domestic real estate transactions reached and even exceeded the 150,000 mark in 2021: Duna House estimates that 150,974 transactions were realised in 2021, corresponding to year-on-year growth of 15%.

 

Rental fees declined by 15 to 20% in 2020, but they keep on rising and are currently only 7 to 8% lower than before the coronavirus outbreak. Experts forecast that this process will continue and rental fees will be back at pre-crisis (early 2020) levels by 2022. Uncertainties, however, are great in this respect, with some respondents projecting that the previous peak will be reached by this spring, while others estimate that rental fees will still be a few percentages lower than that even in December 2022.




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New leases

  • Premium office operator Hotspot has expanded its flexible workspace footprint within Bucharest's The Mark building by approximately 700 sqm to meet rising corporate demand. The expansion brings the total area of private office and coworking spaces at the Hotspot Workhub sites to approximately 2,552 sqm.
  • Stook Concept has leased a 3,600 sqm module within building C2 at the MLP Bucharest West logistics centre. The facility comprises approximately 3,500 sqm of warehouse space and 100 sqm of offices. The building is in its final construction phase, with handover scheduled for later this quarter. Colliers represented the tenant in the transaction.
  • DXC Technology has extended its lease agreement for office space in Warsaw’s Skyliner tower, securing its tenancy until 2032. The global IT services leader will continue to occupy nearly 4,600 sqm of office space distributed across three floors of the Karimpol Group’s flagship development.

New appointments

  • BNP Paribas Real Estate Poland has expanded its Industrial and Logistics Agency team with the appointments of Joanna Choromańska, formerly of JLL, and Bartosz Wilczyński, previously with CBRE. The new hires bring a combined 34 years of experience in sector sales, lease negotiations, and build-to-suit project delivery to support the division's ongoing growth.
  • Speedwell has expanded its industrial and logistics team with the appointment of Valentin Achim as Leasing and Property Manager for Industrial Developments. Achim brings extensive experience in coordinating commercial and operational activities within the logistics and industrial sectors. In his new role, he will oversee the development and expansion of the company's Spaceplus platform.
  • Colliers has appointed Kata Mazsaroff, Tamás Beck, and Miklós Ecsődi as Equity Partners in Hungary, effective 30 April 2026. Mazsaroff, who joined in 2007, rises to Managing Partner after overseeing a 200 per cent revenue increase since her 2022 appointment as Managing Director. Beck, with Colliers since 1994, has led the Industrial & Logistics division since 2005, facilitating transactions covering 1.9 million sqm of built space and 9.8 million sqm of land. Ecsődi, Head of Occupier Services and Office Agency since joining in 2011, has secured over 450,000 sqm in leases valued above €600 million.


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