According to a press release from the Hungarian News Agency (MTI) on January 20th, 2010, the Hungarian real estate investment market is forecast for further decline. Michael Smithing, managing partner at Colliers International, referred to the international real estat......agency’s data when revising the above information: „This profession must first and foremost take into account income-generating properties. When looking exclusively at such properties, substantial growth can be expected when comparing the €262 million invested in 2009 with the forecast €400-450 million to be invested in 2010.
Ákos Balla, director of valuation and research, confirmed that during 2009 in Hungary a total of 17 transactions were concluded on the entire spectrum of the real estate market – representing approximately €569 million – although among these only 6 properties were income-generating investment deals (€262). The remaining 11 transactions encompassed owner-occupier, hotel and redevelopment deals, the sum of which was approximately €307 million. Following the scarce activity regarding income-generating real estate, this year substantial growth is expected, and it would come as no surprise if investment transaction volume for 2010 would achieve €400-450 million.
„Investors are expected to keep in mind the golden rules of real estate investment during 2010, i.e. focusing on prime location, long-term lease agreements and sustainable rent levels” – summarized Michael Smithing, managing partner of Colliers International in Budapest.
Ákos Balla, director of valuation and research, confirmed that during 2009 in Hungary a total of 17 transactions were concluded on the entire spectrum of the real estate market – representing approximately €569 million – although among these only 6 properties were income-generating investment deals (€262). The remaining 11 transactions encompassed owner-occupier, hotel and redevelopment deals, the sum of which was approximately €307 million. Following the scarce activity regarding income-generating real estate, this year substantial growth is expected, and it would come as no surprise if investment transaction volume for 2010 would achieve €400-450 million.
„Investors are expected to keep in mind the golden rules of real estate investment during 2010, i.e. focusing on prime location, long-term lease agreements and sustainable rent levels” – summarized Michael Smithing, managing partner of Colliers International in Budapest.
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Author of the article: O|G|H
Author of the article: O|G|H
