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.




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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