In 2024, 13,295 new dwellings were built, 29% fewer than in the previous year. The number of dwellings built on the basis of building permits and simple declarations issued was 20,494, 4.7% fewer than in 2023.

Dr. Dániel H. Nagy, Partner and Head of Tax & Legal Services of Forvis Mazars Hungary, talked to Property Forum about the strong points of Hungary’s tax system for real estate investors and the ESG-based trends shaping the CEE property sector.

The Hungarian government has recognised that Budapest’s municipally owned company exercised its pre-emption right over the Rákosrendező plot. Therefore, the megaproject by UAE-based Eagle Hills Group, dubbed "Maxi Dubai" in the local media, is effectively cancelled.

Digital hospitality platform Numa Group and GTC have announced their launch in Hungary with a flagship property in central Budapest. 

Hungarian developer Cordia plans to add over 1,000 apartments this year, in Budapest, with three-quarters of this supply hitting the market in the first quarter alone. This expansion will increase the availability of new homes in the city by 20% compared to the end-of-year stock.

Drugstore chain Rossman has started to install equipment in a new warehouse developed by Panattoni Hungary and financed by OTP Real Estate Investment Fund.

Forestay Group and Recorde Asset Management have purchased a 10,200 sqm office building in central Budapest from Generali Real Estate for an undisclosed sum. 

Gránit Asset Management has been added to the Constitution Protection Office's list of qualified market operators, thus enabling its participation in the investor visa program aimed at modernizing and improving the quality of Hungary's real estate stock.   

B+N Group has recently announced a significant acquisition, enabling the Hungarian-owned company group to enter the market of Europe’s largest economy. Following the integration of the KÖBERL Group in Germany, the company specializing in facility management and cleaning will operate in nine countries, serving both private-sector actors and major public-sector clients. The company’s international expansion has particularly accelerated in recent years, partly due to increased disinfection standards during the COVID-19 pandemic. Property Forum talked to Ferenc Kis-Szölgyémi, CEO and owner of B+N Referencia Zrt., about current trends, industry developments, labour shortages, robotization, and more.

Total office demand in Budapest rose by 8% year-on-year to 502,150 sqm during 2024, according to data from the Budapest Research Forum (BRF).