Boston, MA -- (ReleaseWire) -- 08/01/2014 -- Like many markets in the Central Eastern Europe (CEE) region, Hungary 's commercial real estate sector h as been badly hit by the region's economic downturn and the continuing effects of the eurozone debt crisis. In H114, there were positive signs that the downturn had bottomed out as demand for commercial real estate space appeared to be growing once again in some areas of the market. The Hungary Q314 Real Estate Report assesses the outlook for the sector over the remainder of 2014, in the light of the country's improving economic situation.
With a focus on the country's principal cities of Budapest, Debrecen and Gyor, the report covers rental market performance in terms of rates and yields across the commercial office, retail and industrial sectors. As well as in-depth analysis and forecasting for each of these cities and segments, reports fed back to us from our in-country research teams provide a snap-shot of the health of each market
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In Q314, further stabilisation in the Hungarian economy should help support growth in demand for commercial real estate space. In particular, the country's exit from the EU's Excessive Deficit Procedure should provide some much needed relief for businesses and help stabilise demand within the office rental segment, while we also anticipate an upturn in leasing activity in the retail market as a result of strengthening consumer spending.
The industrial real estate market should also see some upside potential over the coming months as export volumes start to recover on the back of an improving economic outlook for Hungary's largest trade partner, Germany.
While BMI's overriding outlook for Hungary's commercial real estate sector is positive, we caution that the market remains at a fragile stage of recovery with many areas of the market still suffering from extremely high vacancy rates and weak demand. With this in mind, we do not expect rental rates and transactional activity to return to pre-downturn levels before...
The Hungary Real Estate Report features Business Monitor International (BMI)'s market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.
BMI's Hungary Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Hungary.
- Benchmark BMI's independent real estate industry forecasts for Hungary to test other views - a key input for successful budgeting and strategic business planning in the Hungarian real estate market.
- Target business opportunities and risks in Hungary through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering real estate and construction, regulatory changes, major investments and projects and significant national and multinational company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the real estate sector and within the broader political, financial, economic and business environment.
Overview of the real estate sector, including analysis of existing/planned real estate developments and emerging industry trends in the office, industrial and commercial sectors.
Features detailed city-level data and analysis on rental prices, yields, contract terms and real estate availability with separate chapters covering the office, retail and industrial sub-sectors.
Industry Forecast Scenario
Historical data series (2010-2012) and forecasts to end-2018 for the domestic real estate industry and for the local and global finance industry. Indicators include:
Real Estate: Office, retail and industrial real estate yields for all major cities (%); short-term forecasts on minimum and maximum real estate rental prices by sub-sector (US$ per square metre, and local currency per square metre)
Construction: Industry value (US$bn); contribution to GDP (%); employment (`000); real growth (%)
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