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Skanska has sold Mill Park, a two-building office project in Budapest, to the real estate fund of Erste Alapkezelő Zrt., a subsidiary of Erste Asset Management GmbH. This is the second acquisition from Skanska in Budapest the purchaser has made following the Nordic Light transaction in 2016.
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Output of Hungary’s construction sector jumped by an annual 28.2% in June, rising at the fastest rate since January, data released by the Central Statistical Office (KSH) show.
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Home prices in Debrecen could rise by up to 40% in three or four years, when German carmaker BMW starts production in its new factory in the city, Nándor Mester, chief analyst of real estate group Otthontérkép Csoport told state news channel M1.
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Promenade Gardens, the recently completed office building located on the prized Váci Corridor, changed hands on Wednesday (August 1), when ERSTE Real Estate Fund purchased the 97% leased property from the developer, Budapest-based Horizon Development.
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Hungarian residential property prices rose by an average of 5.4% in nominal terms in 2018 Q1 compared to the previous quarter. This is a significant increase compared with the rate of price growth in the final quarter of 2017, the National Bank of Hungary (MNB) reported.
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New home prices in Hungary climbed 12.2% year-on-year in the first quarter and were up 4% from the previous quarter, according to a market survey by the Central Statistics Office.
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