Investment increased in Q2
Fixed capital investments in Hungary were up 4.6% year-on-year in the second quarter, the Central Statistics Office announced, the first such increase in six years.
Office market news
News, analysis and lease transactions from the Hungarian office market
Jones Lang LaSalle selected as new leasing agency of MOM Park Towers and BC 140
The international property advisor Jones Lang LaSalle (JLL) has been mandated by a global real estate investment manager as co-exclusive letting agent of their BC140 and MOM Park Tower office buildings. JLL share leasing mandate with DTZ on BC140 and with Cushman&Wakefield on MOM Park Towers.
Sébastien Bazin appointed as Chairman and CEO
The Board of Directors of Accor that convened on August 27, 2013, chaired by Philippe Citerne, decided to appoint Sébastien Bazin as Chairman and CEO of Accor. To take on this new role, Sébastien Bazin has ended all his duties at Colony Capital, which he had been heading since 1997. Philippe Citerne has been appointed as Vice-Chairman of Accor's Board of Directors.
North American and Middle East buyers drive European property investment market
North American and Middle East investors are the major drivers of increased activity in the European commercial real estate market and buyers from outside the region now account for more than a quarter of all transactions in H1 2013, according to the latest data from CBRE.
Busy summer at IVG Hungary
IVG Hungary closed a successful, busy summer this year. During the season, the company signed lease contracts for more than 2200 sqm in total. The prestigious OTP Mobil Szolgáltató Kft. chose RiverPark, an office building under IVG Hungary’s management, moreover IVG Hungary signed new lease contracts with CEDA Kft and Digital Apes for nearly 700 sqm of the centrally located Oktogon Ház.
Central bank mulls extending FX loan forint conversions
Hungary’s central bank has raised the idea of extending the programme under which foreign-exchange mortgages are converted to forints at a rate of 180 forints per Swiss franc. The measure would cost 30-40 billion forints a year based on current exchange rates, according to calculations by the National Bank of Hungary released on Monday.
Hong Kong streets lead global retail rents rise
Hong Kong is by far the world’s most expensive city for global retailers, but prime rents in New York, London, Tokyo and Zurich are on the rise, according to new research from global property advisor CBRE Group, Inc.
Public debt declines to 81.4pc of GDP by late June
Hungary’s gross public debt, calculated at nominal value according to the Maastricht definition, amounted to 23,250 billion forints (EUR 777bn), falling from 81.4 percent by the end of the second quarter of this year from 82.4 percent of GDP at the end of March, the National Bank of Hungary (NBH) said on Wednesday.
