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

This is the first luxurious residential real estate project of the Hungarian developer in Spain. At the same time, the company announced a second project on the Costa del Sol.

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.

Construction has just started in the second phase at East Gate Business Park. A total area of 9100 sqm will be available in the hall which offers space for production, assembly, fulfilment and storage purposes.

Primark's first Hungarian store which will be opened in NEPI Rockcastle's Arena Mall shopping centre in Budapest is part of the ongoing expansion of the global retail chain.

The Hungarian construction firm will offer modern office space after an extensive refurbishment of an educational facility in the downtown of Szeged, an important regional city in Hungary, szeged.hu reports.

As the European Union has proposed the move towards zero-emission buildings by 2030, a significant portion of the energy consumption of these projects should be covered by energy from renewable sources. This includes renewable energy produced on-site or nearby so property companies are starting to invest in such facilities in a bid to lower operating costs and meet targets under their ESG agendas. The investments in such capacities have been boosted by the high energy price environment and the need of property companies to enhance the security of power supplies.

Asset management firm Diófa and the Hungarian branch of Erste Bank have concluded a financing deal for seven years. The refinancing contract is worth €73 million, portfolio.hu reports.

The historic building will offer 4,600 sqm of office and 340 sqm of retail space in the very heart of the Hungarian capital. The opening is expected at the end of January.

The current economic downturn may result in more mergers and acquisitions in most of the CEE countries. Owners of some hotels and retail centres may divest their assets to minimize loss. Property Forum asked Csaba Polacsek, Partner, Advisory Services at PwC Hungary about the mood of the possible buyers and the remaining risks in the coming years.