Market Report, "Hungary Real Estate Report Q2 2013", Published


Recently published research from Business Monitor International, "Hungary Real Estate Report Q2 2013", is now available at Fast Market Research


Published on 05 April 2013


by Bill Thompson

(WireNews+Co)

Boston, MA

The Hungary real estate report examines the commercial office, retail, industrial and construction segments throughout the country in the context of continuing domestic and regional economic weakness. With a focus on the principal cities of Budapest, Gyor and Debrecen, the report covers rental market performance in terms of rates and yields over the past 24 months and examines how best to maximise returns in the commercial real estate market, while minimising investment risk and exploring the impact of government austerity on a market already characterised by a static supply and demand dynamic.

View Full Report Details (http://www.fastmr.com/prod/554068_hungary_real_estate_report_q2_2013.aspx?afid=201)

Key Points:

- Hungary's real estate market, like so many others, was seriously damaged by the global financial crisis, and the return to strength is very much dependent upon an improvement in the country's economic health. Full-year 2012 data reveal persistent weakness across the office, retail and industrial sectors, and the outlook for 2013 has little optimism as a steady stream of negative macroeconomic data emerges from Hungary.
- We have revised our forecasts for Hungarian real GDP growth downward for 2013 and 2014 from 1.2% and 2.3%, to -0.4% and 2.0% respectively due to concern surrounding the country's political direction, as well as disappointing Q312 data. The weakening of the forint in early 2013, if sustained, should boost net exports; however, this relies heavily on the recovery of the eurozone economies, notably Germany.
- Despite encouraging signs during the first two quarters of 2012, our outlook for the Hungarian construction industry value has changed for the worse as we now forecast a year-on-year contraction in the sector to continue until 2013. Key factors that have shaped this outlook include a weaker economic outlook, the failure of the government to reach an external financing arrangement with the IMF/EU and the over-burdened private household sector. We expect the market to return to positive growth territory from 2014, but any growth during our 10-year forecast period will be minimal and mostly owing to investments in infrastructure projects.
- The retail segment remains the only highlight of the Hungarian commercial real estate market as its office and industrial counterparts continue to struggle. While the sector has not escaped unscathed, it has weathered the storm considerably and comparatively well. In Budapest, 2012 ended with rental rates higher than in January; the only significant growth indicator across our real estate data.




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Posted 2013-04-05 11:13:00