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This has been a restrained year for development activity in the office and retail fields. That in the industrial and hotel sectors, however, has been more dynamic. Investment activity has reflected the cautious wait-and-see strategy being adopted by investors towards the Hungarian property markets and, indeed, CEE and Europe as a whole.
CBRE has recorded EUR 350 million in annual commercial real estate investment volume for Hungary as of October, representing a 43% year-on-year fall in volume. This compares to a CEE average decrease of 45%; the leading investment markets of Poland and the Czech Republic returned mixed results, with drops of 61% and 9%, respectively.