There were 8,400 residential property deals made in Hungary in May 2020, according to the latest monthly transaction estimate by real estate group Duna House. Although still 38% lower compared to last May, the monthly figure looks much healthier than in April.
Eiffage Immobilier Polska has appointed Savills to seek an investment partner for the development of a bespoke 453-unit build-to-rent opportunity in Warsaw within a secured development pipeline of over 2,300 units across Poland’s top five cities.
Belgian developer Atenor has obtained a building permit for its Up-Site Bucharest project which will consist of 270 residential units in two glass towers of 12 and 24 floors. Upon completion, these two towers will be the tallest residential buildings in the Romanian capital.
Real estate developer Hagag Development Europe has completed the structure of the first three buildings related to the first phase of the large-scale residential project H Pipera Lake. Construction works for buildings 4 and 5 reached the ground floor. Out of the total number of apartments available in the first three buildings, 60% have already been sold
Local real estate developer Rock Development, controlled by a subsidiary of UniCredit Group, has launched the construction of the Avrig Park Residence residential project in Bucharest’s Bucur Obor area.
Spanish developer Gran Via Real Estate announced that starting 18 May, it will reopen the sales offices for its ongoing four residential projects: Timișoara 58, Gran Via Park, and Aviației Apartments in Bucharest, as well as Gran Via Marina in Constanța.
Romanian real estate developer Nordis Group is planning a mixed-use project in the northern area of Mamaia, Romania’s most popular seaside resort. The developer will allow people to invest in hotel rooms that they can use for one week each year. The developer promises an annual yield of 7% of the invested sum, paid in 12 monthly instalments.
There were 5,971 residential property deals made in Hungary in April 2020, according to the latest monthly transaction estimate by real estate group Duna House. The last time the monthly figure was this low was at the low point of the previous crisis in 2013. Meanwhile, weekly data suggest that we are past the trough as the market picked up slightly in the second half of the month.
While house prices in Budapest rose 14.1% year-on-year in the fourth quarter of 2019, they fell 2.0% in nominal terms on a quarterly basis, the National Bank of Hungary (MNB) reported. The central bank has not recorded a q-o-q drop in house prices since Q4 2013.
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