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The historic building will offer 4,600 sqm of office and 340 sqm of retail space in the very heart of the Hungarian capital. The opening is expected at the end of January.

The current economic downturn may result in more mergers and acquisitions in most of the CEE countries. Owners of some hotels and retail centres may divest their assets to minimize loss. Property Forum asked Csaba Polacsek, Partner, Advisory Services at PwC Hungary about the mood of the possible buyers and the remaining risks in the coming years.

Slovak asset management company IAD Investments has purchased nearly 270,000 sqm of land west of the Hungarian capital. IAD Investments joined forces with a branch of one of the largest industrial real estate developers in Europe to develop a completely new logistics park. It will be IAD's second project in the local development market.

The logistics facility will offer a total of 65,000 sqm of industrial and office space in Biatorbágy on the Western outskirts of the Hungarian capital.

Consumer prices were 24.5% higher on average in December 2022 than a year earlier which is a new record, compared to the last decade. The highest price rises were measured for electricity, gas and other fuels as well as food over the last twelve months. Prices increased by 14.5% on average in 2022 compared to the previous year, Hungarian Central Statistical Office reports. 

The biggest company in Hungary got rid of its outdated office complex for HUF 6.3 billion in November last year, investigative news site K-Monitor reports. 

This is the first shopping centre in Hungary to be given such an award in the construction phase. The property, developed by the Hungarian company Futureal was opened in late 2021. 

Verno House Budapest, Vignette Collection, is set to open in the summer of 2023 under a franchise agreement and voco Budapest is to open in late 2023 under a management agreement, europe-re.com reports

December was the weakest month in 2022 in terms of sales and loans taken out to buy homes, local brokerage firm Duna House (DH) reports.

Some players in the Hungarian commercial property sector have made significant steps to transform the industry, but the majority have failed to do so. Property Forum asked Zsombor Barta, President of the Hungary Green Building Council (HuGBC) about the way the entire industry should act to reach net zero as adopted by the European Union.