In 2023, 18,647 new dwellings were built, 9.2% fewer than a year earlier. The number of dwellings to be built under construction permits and simple declarations issued was 21,501, 39% fewer than in 2022, Hungary’s Central Statistical Office reports.

The development pipeline of logistics centres is still powerful around Budapest but some of the players seek other opportunities near regional industrial cities. However, landlords need to adapt to market changes while adjusting their rental conditions. Property Forum asked Gábor Halász-Csatári, Head of Industrial & Logistics Agency at Cushman & Wakefield about the latest trends in meeting demands and the pivotal role of fulfilment services in Hungary.

The BEM Center office building has been handed over and with it the first tenants have arrived, including the investor and developer Market Asset Management Zrt.

IHG Hotels & Resorts has announced its first Holiday Inn & Suites property in Europe by signing Holiday Inn & Suites Budapest Centrale – part of its Holiday Inn Hotels & Resorts brand. The new hotel will offer 170 rooms and is set to open in late 2026.

Some of the historic heritage buildings are crying for conversion for commercial use in many cities across the CEE region. Property Forum asked Mihály Schrancz, CEO and founding partner of newly-founded development company Realis Development Plc., about the risks and special preparation for such projects.

Colliers Hungary is making a return to the retail market under the leadership of Anita Csörgő. She has nearly 30 years of experience in the retail sector, including high street and shopping centre retail.

Governments in Hungary and Poland have introduced new and renewed schemes to push the local housing market. The mortgage market has already shown some positive signs in both countries. However, the residential markets still face several problems which can not be solved quickly, says Guy Dymschiz, co-CEO of Duna House Group, active in Hungary and Poland.

The leading Hungarian developer hired a long-time expert to head its residential and office development businesses.

A leading regional parcel logistics operator has secured industrial space at East Gate Pro Business Park, developed by Wing. The third hall of the park was completed last year, and the fourth one is to be completed by the end of 2024.

Hungarian developer and construction company Kész Group will build a 5,300 sqm office building in the heart of the important Southern city of Szeged. Lufthansa Systems Hungary has already secured space there. The handover is scheduled for Q2 2025.