Highlights from the latest retail and real estate market news
Grandiose real estate development in Kecskemét: Previously known mainly for the operation of Auchan Korzós, Nhood has developed into a mixed real estate services company, whose activities, in addition to retail, include industrial real estate developments and mixed-use housing developments. An example of the latter is Boróka Park in Kecskemét, which is a multi-stage residential development in the western part of the county seat.
The Green Court office building has been sold: Groupama Gan REIM bought the property on Váci út for a purchase price of 77.1 million euros. The building, which was developed by Codic and handed over this year, has a BREEAM Excellent rating and a BB energy efficiency certificate.
Elkelt a Váci úti Green Court Office - Magyar Építéstechnika Szaklap (magyarepitestechnika.hu)
Production has started in the new 23,000 square meter press shop of the Mercedes-Benz plant in Kecskemét, which supplies locally made components for both the compact cars produced in Hungary and the company's global production network. Megkezdődött a termelés a kecskeméti Mercedes-Benz gyár új présüzemében :: Mercedes-Benz
Recognition after recognition for the Hungarian House of Music: the iconic building of the Liget project has been awarded "Architectural Design of the Year" at the most prestigious overseas architectural competition, the Architecture MasterPrize (AMP), and the building has also won the "World's Best Musical Development" award at the Music Cities Awards.
Elnyerte a legrangosabb amerikai építészeti elismerést a Magyar Zene Háza (travelo.hu)
Újabb nemzetközi elismerést kapott a Magyar Zene Háza - Turizmus.com
Trade picked up during Black Friday. Not only in Hungary, but also in the United States, sales increased during the Black Friday weekend. The biggest hit products were small and large electronic devices, fabric softeners and other consumables, but an extremely large number of people bought toys for Christmas gifts or purchased a new laptop.
Index - Gazdaság - Még hogy válság: rekordot döntött a pénteki Black Friday a világon
The price increase continues: instead of the previously expected 22%, inflation rose to 22.5% in November in Hungary. So far, there is no sign of easing of the price pressure, with consumer price inflation reaching 25% at its peak.
Itt a friss adat: újra durva meglepetést okozott az infláció Magyarországon - Portfolio.hu
The renovation of the Allee shopping center has been completed. The redevelopment included the redesign of the interior and exterior spaces, with the goal of improving the customer experience and enhancing the development potential of the tenant mix. The mall also spent a significant amount of money on investments aimed at achieving carbon neutrality.
Allee: vége a felújításnak - Figyelő (figyelo.hu)
A new Polish fashion brand has entered the Hungarian market. Born2be, a Warsaw-based online fashion store belonging to the Polish AZA Group, with a significant market share in Poland, Romania and Ukraine, launched its service in November. More than 25,000 products are waiting for orders in the central warehouse of the trading company, which is known for its rapidly changing, yet wide product variety.
Új lengyel divatáruház tört be Magyarországra: retteghetnek a versenytársak, a C&A, About You, Answear? (penzcentrum.hu)
A turnaround in the housing market: according to the Housing Market Report of the Hungarian National Bank, while the housing market reached a multi-year peak in the first half of 2022, due to the favourable economic environment, the second half of the year and 2023 will see a slowdown. Both on the demand and the supply side, a significant slowdown is expected, which will more than likely lead to a decline in house prices.
Éles fordulat a lakáspiacon (bankmonitor.hu)
Reasonable pricing may return to the real estate market in 2023: in the volatile economic environment, the interest of the real estate market depends on how smooth the cash flow will be in the next 12 months. However, as the tightening cycle slows and interest rates stabilize, opportunities will open up for investors who are ready to seize them. In addition, the period of more rational pricing may also arrive, which prepares the ground for yields that develop differently depending on sectors, locations and property types.
These were the highlights of the recent period in the retail and real estate market. We'll be back with the latest news in our next issue.