Real estate and retail news
Budapest's newest office building was built in the spirit of being close to nature
Offering 27,000 square meters of offices on eight floors, H2Offices also includes a multifunctional garden, a lake and a panoramic running track. The new office building was built at the intersection of Váci út and Dózsa György út on the site of the 61-meter-high former office complex of Fővárosi Vízművek, as Skanska's tenth building in Hungary.
Real estate funds have broken the bank in Hungary over the past decade
Particularly impressive is the rise of real estate funds, which have almost broken the bank over the past ten years. The benchmark interest rate decreased from 6 percent at the beginning of 2010 to 0.6 percent by the end of 2020, which caused even investors with a lower risk tolerance to turn to higher risk schemes. The net asset value of investment funds also showed a strong expansion in the last decade, from a value of HUF 3,895 billion at the end of 2010 to close to HUF 10,450 billion by the end of 2021.
New winds are blowing in the property market
Environmental awareness and social responsibility are playing an increasingly important role in the real estate market, according to a new global survey by international real estate consultancy CBRE. The survey polled more than 500 commercial real estate professionals worldwide. More than two-thirds of respondents said their companies had increased their focus on environmental, social and governance (ESG) issues in the last year, with energy consumption and carbon reduction becoming their primary objectives for their real estate.
The domestic housing market has reached a turning point
Housing prices have stagnated since last autumn, with some places seeing a fall in prices since January, reflecting a fall in demand. The housing market picture illustrates that a drastic change in the macroeconomic environment triggers an immediate change in the sector.
Logistics in booming form. Significant growth in real estate
At the end of the first quarter, the total national modern industrial/logistics stock amounted to 4,729,935 m2. In the first quarter of 2023, the speculative stock in the metropolitan agglomeration increased by five buildings, totaling 111,330 m2.
Intrum: solvency of the population improved slightly in the first quarter
The solvency of the population has improved slightly compared to the last quarter of 2022, but year-on-year we still see a decline of 86%. The latest solvency data foretell a recession, with growth recovering in the third quarter at the earliest.
Big repricing in the global real estate market - What do the banks say?
During times of turbulence around the world, commercial real estate and residential development financing are the most sensitive to changes in the market environment. What lies ahead for the office market, commercial real estate and housing development financing? Among other things, the experts discussed these issues in the third session of the Credit 2023 conference.
A new mall is opening - Hungary's most anticipated shopping center will soon be handed over
The Corvin department store will reopen in the late summer/early autumn of 2023. The information is momentous for two reasons: firstly, the renovation of the building has been going on for many years now, and secondly, the Corvin department store - or Corvin Palace as it is now known - is a legendary shopping center with a national reputation that goes back almost a century. So, it is understandable that many people are concerned about the fate of the property. The investment is worth almost eight billion forints.