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

  • BearingPoint has relocated its Bucharest office to Vastint’s Timpuri Noi Square, in a deal brokered by Griffes.
  • Lagardère Travel Retail has renewed its 2,300 sqm office lease for its HQ at the Bucharest-based Globalworth Campus, in a deal brokered by Cushman & Wakefield Echinox.
  • Jack & Jones has leased 310 sqm for a new store at Promenada Sibiu, owned by NEPI Rockcastle.

New appointments

  • Michał Kochanowski-Laren has joined Avison Young Poland’s Technical Advisory and Project Management team as Project Manager. In his new role, he is responsible for delivering a variety of consultancy projects across all segments of the commercial real estate market in Poland. Kochanowski-Laren is an electrical engineer and a graduate of the Warsaw University of Technology.
  • Colliers Hungary has appointed Balint Laszlo as Director and Head of Design & Build. Laszlo brings over a decade of expertise in technical project management and fit-out execution, with a specific focus on the office and industrial sectors. He previously served as Head of Fit Out at Futureal Group, where he managed project execution, technical delivery, and cross-functional collaboration. His professional background also includes site management and commercial leadership roles.
  • NEPI Rockcastle has nominated Zelda Roscherr as an Independent Non-Executive Director. Roscherr will stand for election at the Annual General Meeting (AGM) in May 2026. André van der Veer, currently an Independent Non-Executive Director, will retire at the conclusion of the AGM and will not seek re-election.


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