ARTICLES LABELLED WITH TAG Budapest

In Q4 2022, Hungarian residential property prices fell by 3.6% compared to the previous quarter. The Central Bank of Hungary (MNB) reports the sharpest decline was seen in smaller municipalities.

Codic Hungary, a subsidiary of the Belgian developer Codic International, has launched its new office project called Modiano in downtown Budapest. It will offer 13,500 sqm of office space with 450 sqm of retail and the handover is scheduled for Q4 2025.

Apart from remodelling the food court, a 10% extension is planned in this centrally located retail complex. This is the biggest change in the life of Westend shopping centre, managed by Granit Polus. The company has not disclosed the size of the investment.

Skanska has opened the 27,000 sqm first phase of the H2Offices complex on Budapest's Váci Road office corridor. Construction of the second phase may start in H2 2023, with the third and final to be handed over in 2026 or 2027.

Prime residential developments will start in this 13-hectare territory in Pilisborosjenő, 7 km northwest of the capital. OC Investment Solutions assisted with the deal, portfolio.hu reports.

Romanian e-commerce player eMAG has secured a financing of around €70 million from Alpha Bank for the development of a logistics hub near Budapest. 

The office vacancy rate in Budapest increased to 11.3%, representing a 0.3 pps increase quarter-on-quarter and a 2.1 pps increase year-on-year. Net absorption has remained positive by the end of the fourth quarter, amounting to 53,480 sqm and reaching 158,510 sqm year-to-date, the Budapest Research Forum (BRF) reports.

The development firm has invested in the technical modernization of its buildings and reassured "BREEAM in Use" accreditation for the Váci Greens D complex.

The Hungarian property company is bolstering its sustainability efforts by entering an agreement with the fast-growing Norwegian Proptech company Varig Technologies.

The last month of 2022 brought a 0.7% decrease in rents compared to the previous month with prices in Budapest sinking by 0.9%, ingatlan.com reports.