ARTICLES LABELLED WITH TAG Hungary

The fears of a recession are likely to cool down the red-hot real estate market in CEE countries, Erste specialists expect. According to them, this will be influenced mainly by surging inflation, the cost of credit and cooling down of the borrowing, and shrinking of the disposable household income which will also worsen the borrowing appetite in the coming periods. There is a change in the respondent’s behaviour too. Whereas respondents from Poland, Hungary and Croatia are open to buying or building a house, Czechs, Slovaks and Slovenians are less inclined to do so, say Erste experts in their recent special report.

The level of new completion in Q2 was 115,390 sqm in Greater Budapest and 47,260 sqm in Regional Hungary. HelloParks in Fót marked the largest new completion with 45,350 sqm and VGP Park Győr Beta has expanded by 10,000 sqm, Budapest Research Forum (BRF) reports.

Propetch is far more than buying a gadget to replace humans. It is a disruptive tool to think over the whole value chain in managing commercial properties. No players in this chain can avoid using it properly, says István Rézsó, Head of Business Development at Cushman & Wakefield Hungary.

The lowest vacancy was registered in North Buda with a 4.4% rate, whereas the highest rate remained in the Periphery submarket (31.4%). Net absorption has remained positive by the end of the second quarter, amounting to 33,720 sqm, Budapest Research Forum (BRF) reports.

Panattoni has started construction of a speculative 17,300 sqm last-mile logistics warehouse project in Törökbálint, about 12 kilometres from Budapest's city centre. The launch of Panattoni Park Budapest City West follows the company’s market debut in Hungary in 2021 with the acquisition of two land sites totalling 100,000 sqm near the capital.

The structure of Wing's Liberty office building has been completed on schedule, bringing the project one step closer to completion in 2023. Located on Könyves Kálmán körút in District 9, the multifunctional office building will host a dual-branded ibis-Tribe hotel after its completion.

The HelloParks Fót warehouse project developed by Hungarian firm Futureal Group will consist of several buildings on the northern outskirts of Budapest. More than fifty percent of the first, already-open phase is now leased. 

Avison Young successfully mediated the disposal of two architecturally significant assets in Budapest's CBD on behalf of a US family office to local development company WING. Both are fully leased on a long-term basis.

Latvia-based Mogotel Hotel Group is the largest hotel operator in the Baltics and it continues to expand outside the region, having recently entered the Hungarian market. Development Director Ivans Dokicians unveiled the company’s ambitions and plans in Hungary and the whole of Europe in an interview for Property Forum.

E.ON Hungária Zrt., the Hungarian unit of the E.ON Group has decided to move its Budapest site to BakerStreet, developed by Atenor Hungary. E.ON will occupy their new Hungarian headquarters from the second quarter of 2024 on 16,200 sqm, in the first phase of the new office campus.