Michał Okoń, Managing Director of Zeitgeist Asset Management in Poland talked to Property Forum about the forecasts for the PRS market in Poland, subscription services and the impact of the pandemic on the rented apartment segment.

Residential developers operating in Poland's largest markets broke the quarterly sales record set in 2017. Sales of new apartments reached 19,500 and were up 40% q-o-q. Continued demand oversupply is pushing prices up further. 

The Hungarian residential rental property market continues to be a mixed bag based on current asking prices, according to the latest monthly survey of real estate portal ingatlan.com, which presents the latest joint rent index of ingatlan.com and the Central Statistical Office (KSH) for March and summarises the supply and average rent as of the end of April based on 40,000 ads.

Construction of two 95-metre Towarowa Towers located on Prosta Street in Warsaw's city centre is starting. It is another investment by Asbud Group near Daszyńskiego Roundabout.

Hungarian real estate developer Biggeorge Property is expanding its management team. The company's strategy for the next five years targets further substantial growth and the new managers were added to help achieve these goals, owner-CEO Tibor Nagygyörgy said.

Impact Developer & Contactor has named Constantin (Tinu) Sebeșanu as CEO of the company, with a 4-year mandate. He is replacing Sorin Apostol, who was appointed Executive Director and member of the Board of Directors at the General Shareholders Meeting.

Real estate developer Hagag Development Europe says it has fully implemented the Realpad software, thus digitizing sales operations for all residential units available in its ongoing projects H Pipera Lake, H Eliade 9 Residence and H Victoriei 139. 

Asking prices for apartments and houses in Romania gained 3% in the first quarter of 2021 compared to the same period of 2020, but the yearly growth rate cooled down due to the reduction of demand and the increase of stock available for sale, according to a report by Imobiliare.ro. 

Akcent Development says that it sold 67% of the Cloud 9 residential project in northern Bucharest and aims to sell 90% of the planned 820 apartments by the end of 2021. 

Revenues of Impact Developer & Contractor totalled €42.3 million in 2020, up 28% year-on-year, driven by higher residential sales for its Bucharest-based projects.