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.
Following over 4 years of intensive work, Ghelamco Poland has completed the revitalisation of two historic tenement houses at 13 and 15 Foksal Street in Warsaw.
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.
Echo Investment has signed lease agreements covering a total of almost 3.5 thousand sqm of space in Katowice's Face2Face Business Campus. The largest contract covered a space of 1.35 thousand sqm, which will be occupied by a Medicover clinic for the next few years.
GreenWay, a provider of electromobility solutions in Central and Eastern Europe, is to join the ranks of tenats of Łużycka Plus. The company has just moved in to a 1,850 sqm office. The building is now fully leased.
Sii Polska has extended its lease of almost 4,700 sqm of office space in the Metron office building in Warsaw until 2029. The company, which has been present in the building since 2011, is its largest tenant.
New appointments
Anna Vondrackova has joined the team of REassurance company as Senior Transaction Advisor in Prague. She has a solid background as a real estate lawyer and brings strong legal knowledge.
In September, Michal Berski took up the position of head of the warehouse sector at CBRE Poland. He has been with the company for over 10 years. In his new role, he manages strategy and the development of all business lines within the warehouse and industrial sector.
Slawomir Czarnecki is the new president of Grupa Muszkieterów and ITM Poland. He has replaced David de Bosschère. The new CEO is the owner of the Bricomarché shop in Świecie and has many years of experience in trade, as well as in the Group's internal structures.
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