July 21, 2016
According to JLL, the total revenue of transactions with commercial real estate in Hungary for the first 6 months of this year amounted to €830 million share of retail assets accounted for 39%, commercial – 34%.
JLL also notes that during these six months, new big investors have entered to the market. In March, Zeus Capital Management bought an office building Váci Corner, and in June completed a deal for the sale of the Eiffel square to KGAL Fund.
At the moment, the profitability of the offices in Hungary is at the level of 7%, while shopping centers are getting 6.75% per annum. This is despite the fact that on the main Western European markets this figure is much lower – around 3%.
Benjamin Perez-Ellischewitz, head of financial markets department in JLL, expects that the second half of 2016 new landmark transactions on the commercial real estate market will be done. He predicts that sales volumes by the end of the year will reach €2 million.
Based on the materials of bbj.hu