Real estate developer Hagag Development, part of Hagag Group Israel, breaks ground on its largest residential project to be developed in Romania: H Pipera Lake. Out of the total number of 390 apartments to be delivered in the first phase, 45% have already been sold.
In Q2 2019, developers operating on the six largest markets in Poland sold the total of 15,100 units, i.e. 8% less than in the previous quarter. The new supply in that period equalled 14,900 units – hence, the offer volume remained at the level of the previous quarter. The latest JLL’s report entitled “Residential Market in Poland Q2 2019” shows that prices of residential units are still growing, but at a much slower rate. This makes it possible for developers to maintain margins at a satisfactory level.
Golub GetHouse’s new real estate brand, Inspirentals, will be the vehicle for development projects in the Private Rented Sector offering a range of amenities available to all residents that are rare on the Polish market. The Warsaw-based Postępu Apartments (working name) and Liberty Tower projects, among others, will be completed under the new Inspirentals brand.
In the first quarter of this year, residential developers on the six major markets in Poland sold 16,500 new flats, repeating the result attained in Q4 2018. During this same period, a similar number, 16,800 units, were put up for sale. Poznań and Łódź are experiencing a late boom, as sales on these markets reached record highs in Q1 2019, according to JLL’s latest report.
Following the financing agreements worth €51 million announced in January, Hungarian residential property developer, Cordia has signed further loan agreements worth €86.6 million. Futureal Group’s subsidiary has concluded the recent contracts with OTP Bank, Takarék Group and Sberbank in order to finance its 5 residential property projects in Budapest.
Local developer Biggeorge Property has unveiled plans for a new city centre development in Budapest’s Óbuda district. The 5 ha project would include 1400 apartments and 10,000 sqm of commercial space upon completion. Handover of the first phase with 257 apartments in three buildings is scheduled for 2010.
International architectural firm BIG founded unveiled its plans for Towarowa 22, a 230,000 sqm mixed-use development in Warsaw’s Wola district at MIPIM. The owners of the project are EPP and Echo Investment
Israeli developer Hagag Development Europe has received the building permit for the Victoriei 139 residential project which will see the transformation of an old building located on Calea Victoriei in central Bucharest.
A 140-metre-tall residential tower with a cascade roof, including a hotel and a four-storey underground car park – this is what Liberty Tower looks like in a nutshell. The latest Golub GetHouse project will be built at the intersection of Żelazna and Grzybowska streets in Warsaw's Wola district. The construction of the high-rise building designed by the American architecture studio Arquitectonica is scheduled to start in Q2 2020.
According to Knight Frank’s global report, residential prices in Budapest grew by 19% y-o-y in Q3 2018, registering the third largest growth rate in the world. Zagreb also registered a growth rate above 10%.
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