Chinese, German and Dutch buyers remain active in the residential market in Hungary, especially in Budapest and some popular touristic regions. The weakening local currency makes homes even more attractive to invest in. Property Forum talked to László Balogh, Chief Economist at ingatlan.com, Hungary’s largest listing platform, about the latest trends and the possible new wave of foreign buyers coming to the country.

Colliers announced that Kata Mazsaroff has been appointed as the new Managing Director for Hungary. Kata worked at Colliers between 2007 and 2020 where she established the Occupier Services business line, helping Colliers record the highest market share in tenant representation for several consecutive years in the Budapest market. Under Kata’s supervision, the department managed 250,000 sqm of projects for around €300 million lease value.

All three phases of the Budapest ONE office complex have been given an official permit, Hungarian developer Futureal informed.  

Immofinanz has signed a letter of intent for the sale of its Hungarian office properties to S Immo. This transaction is taking place through close cooperation within the CPI Property Group to realise synergy effects and can be used to extend Immofinanz’s myhive office solutions to the entire group. The Hungarian portfolio includes six buildings in Budapest with roughly 124,000 sqm of rentable space. The closing of the transaction could take place before the end of 2022.

Managing retail assets was never an easy job. As the energy crisis is no longer a future problem and the recession seems inevitable, firms involved face huge challenges and have to rethink their strategy and short-term steps to survive. Property Forum asked Miklós Gyertyánfy, Chief Operating Officer at Hungary-based landlord Gránit Pólus Management Zrt. about their way to tackle those challenges.

The owner and asset management company placed 437 solar panels on top of the Blue Cube office building to decrease CO2 emissions by 120 thousand kilogrammes a year.

Hungarian developer and investor Infogroup has bought a 50% share in the ibis Styles Budapest Citywest Hotel.

Groundworks have started at this new business park in the southern part of the Hungarian capital. The first phase is scheduled to be open in June 2023. 

The recently finished Hall 'I' at Airport City Business Park, located at Liszt Ferenc Airport offers a total leasable area of 6,000 sqm and is fully occupied.

As part of its value-creating growth strategy with a focus on high-return properties, Immofinanz is acquiring 53 retail properties in the Czech Republic, Poland, Slovakia and Hungary from its majority shareholder CPI Property Group (CPIPG). The acquired portfolio has roughly 217,000 sqm of rentable space and is fully let with an occupancy rate of 99%. The purchase price totals €324.2 million. The purchase contract was signed today, together with the closing for 36 retail properties in the Czech Republic and Poland which have 108,000 sqm of rentable space. The purchase price of €191 million for those properties was financed from existing funds. The closing for the remaining 17 properties in Hungary and Slovakia is expected to take place by the end of this year.