News, analysis and lease transactions from the Hungarian office market
The sound global and domestic investment climate generated a major push in investment activity in Hungary reaching the second highest ever registered annual volume of EUR 1.7 bn in 2016, i.e. 133% up from the previous year. The most popular type of assets were offices with share of 56%, followed by retail at 25% and industrial deals accounted for 11% of the overall volume.
C&W retained its market leading position for the fifth consecutive year in 2016 – being involved in circa 83,500 sq m of office lease transactions or 32% share of the Agents Market. C&W concluded all together 92 transactions with an average deal size above 907 sq m, further cementing their market leading position in the country.
The property management and (property and SPV) accounting of Váci Greens’ Building C, acquired by ZFP Investments, acting on behalf of the ZFP realitní fond, a Czech real estate fund entering the Hungarian commercial real estate market, is now performed by CBRE.
The Budapest Research Forum (hereinafter the ‘BRF’, which comprises CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary) hereby reports its Q4 2016 office market summary.
According to the latest numbers, more than 53,000 people currently work in CTP’s industrial areas and office parks in the CEE region. In response to the increasing number of employees, the leading industrial real estate developer is focusing on improving both services and facilities in its CTPark developments.
TriGranit’s latest development, the Millennium Gardens office building is being constructed alongside the Palace of Arts and the National Theatre, on the Danube side of Soroksári road. TriGranit appointed the Hungarian office of CBRE, the world’s leading real estate advisor with the exclusive leasing of the 37,000 sqm office space expected to be completed by 2019.
Colliers International Hungary is pleased to announce, that Péter Török - as Senior Associate - and Orsolya Horváth - as Associate - joined the Investment Team of Colliers from January 2017.
American researchers have analyzed the effects of a good atmosphere in the workplace. They pointed out that a positive work environment reinforces the performance of employees, because informal exchanges between colleagues make it possible to acquire new knowledge.
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