Now Available: Hungary Real Estate Report Q1 2015

From: Fast Market Research, Inc.
Published: Thu Jan 08 2015

A healthier economy has helped provide greater stability for the Hungarian commercial real estate sector during recent months with strong levels of internal and external demand creating a stable footing for demand for rental space and investment. The mood has since begun to sour, however, as economic growth has begun to waver and the central bank has taken measures to support the market.

An acceleration in Hungary's GDP proved the catalyst for the commercial real estate market during 2014 following a prolonged period of stagnation and contraction in rental rate costs across much of the market. The year saw rental rates remain on a stable footing as both internal and external demand trended upwards. Meanwhile, the market saw a substantial increase in investment with transactional activity forecast to have grown by 135% over the full-year on a year-on-year (y-o-y) basis.

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However, cracks have since started to appear as the country's economic momentum began to fizzle out during the second half of the year. A key factor in this change of momentum have been slowing growth in Hungary's neighbour and largest trading partner Germany, which currently accounts for more than 25% of total exports. Furthermore, the government has stepped up its fiscal austerity programme, placing pressure on household spending and on the wider private sector.

Growing concerns surrounding the commercial property sectors were seen in the actions taking by the National Bank of Hungary, which, in November 2014, announced the establishment of an asset management agency to deal with non-performing commercial real estate loans. The central bank will assist banks in cleaning up their corporate loan portfolio and increase lending through the purchase of bad real estate loans and associated commercial properties. The bank is also expected to make real estate purchases in order to remove excess stock from the commercial real estate market in an effort to bring down vacancy levels.


The Hungary Real Estate Report features Business Monitor International (BMI)'s market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.

BMI's Hungary Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Hungary.

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