On 11th April, the Hungarian government announced their proposal for parliament to abolish the standing law regarding Sunday closing for retail units. The proposal has already passed through voting in the Parliament on 12th April, theoretically allowing stores to open from Sunday, 17 April 2016. The decision comes little more than a year after the legislation came into effect in March 2015, and is likely a direct consequence of recent developments having paved the way for a referendum on the widely criticized policy. According to CBRE’s experience this is a highly appreciated change in legislation by the industry. 

Impressive turnover growth, increasing retailer demand and lack of new supply push rents up in Budapest retail market according to the new Hungarian Retail Market Report of CBRE global property advisor.