RICS is considered the world’s preeminent qualification and standard-setting body for land, property and construction, with more than 125,000 members practicing in more than 146 countries over the world. Employing RICS professionals offers companies a label of excellence and trust, as they follow the highest standards and best practices in the real estate business. CBRE Hungary employs 14 RICS accredited personnel specialising in different areas.

Rents remained stable on the Budapest commercial property market in H1 2018, according to the last survey of the National Bank of Hungary (MNB) and RICS. The typical yield level decreased by roughly 25 basis points to 6% for prime offices and 7.5% for industrial/logistics properties. Respondents anticipate an increase in demand for investments in most market segments for H2 2018, particularly in the case of prime office and industrial/logistics properties.

Forte Partners plans to invest €25 million in the development of a new office building in the centre of Bucharest. The property will offer 8,400 sqm of leasable space.

Praga Studios, the new Karlín office building by Skanska, has progressed significantly on its way to completion. In October 2018, the builders placed a topping out flag on the site of the future roof terrace to symbolise the completion of the superstructure. The building, with a total area of almost 12 000 sqm, will be completed in Q2 2019.

Trei Real Estate GmbH is expanding its Polish investment portfolio in the retail sector. The real estate company, part of the German Tengelmann Group, has opened its tenth Polish retail park under the Vendo Park brand in Łódź, its second investment in the city. The total cost of building Vendo Park at Gojawiczynska Street in Łódź was approximately €4.4 million.

The Central and Eastern European (CEE) hospitality market is showing a positive evolution, with all the performance indicators higher than in the previous year. Between 2013 and 2017, Bucharest stands out with an average increase of overnight stays of 10.1% per year, the highest in the region, according to Cushman & Wakefield’s latest report.

The National Bank of Romania (NBR) reintroduced limits for the maximum indebtedness levels for individuals or families seeking out consumer or mortgage loans. These debt service-to-income (DSTI) ratios will become 40% for RON loans and 20% for hard currency starting in 2019. As per Colliers International Romania’s estimates, for the residential market, the impact in terms of prices will be uneven, geared more towards the low and medium-low segments of the residential market.

In the first three quarters of 2018, the total investment volume on the Warsaw office market hit €1.14 billion, which represented a threefold increase on the same period in 2017. Cushman & Wakefield presented a summary of Q3 2018 on the Warsaw office market.

While investors in CEE are figuring out what is the best operating model for maximising hotel investments and returns, international investors are flooding the market to acquire assets. Marius Gomola MRICS, Managing Director of Horwath HTL Hungary and Founder of HOTCO talked to Property Forum about recent developments on CEE hotel markets.  

Diófa Asset Management, on behalf of its Magyar Posta Takarék Real Estate Fund, has reopened the Shopmark shopping centre in the southern part of Budapest. The complete overhaul the 24,000 sqm building was started in February by KÉSZ Építő Zrt.