Mr. David M. Johnston MRICS, Senior Director, Head of Advisory and Transaction Services at CBRE Hungary says that market is enjoying one its strongest spells ever. What are the consequences? Rents are increasing and incentives are shortening. We also discussed changing occupiers’ needs and why the 76th place on Mercer’s Quality of Living list is a good one.
Mr. Hubert Abt managing director of New Work Offices zrt says that Budapest remains the most important market for now, but Poland will take over this role by the end of the year. We also discussed rising fees, tenants’ needs and why good design can not be calculated by ROI.
Mr. Hubert Abt managing director of Property Systems says, that the one who constantly is concerned about how long the business is going, shouldn’t start an enterprise. We also discussed the limits of growth, the transformation from Ltd. to a listed company and what makes design passionate. The starting point of the conversation is that a new center of NEW WORK Offices just opened, which is also the company's first location at Buda side.
A strong increase in new supply is expected in the upcoming two years, however, most submarkets will still face rental growth in 2018. Sustained rental growth for Class A properties across all submarkets - except the Periphery - is forecasted.
IMMOFINANZ generated net profit of EUR 101.7 million from continuing operations, i.e. excluding Russia, in Q1 2017 (Q1 2016: EUR -139.3 million). Rental income totalled EUR 57.1 million for the reporting period, compared with EUR 58.2 million in Q1 2016. The slight decline of 1.9% resulted primarily from portfolio adjustments involving the retail sector in Austria. After an adjustment for new acquisitions, completions and sales (like-for-like), rental income rose by 3.7% to EUR 49.7 million in the starting quarter of 2017. Results of operations equalled EUR 17.8 million (Q1 2016: EUR 57.2 million). Financial results improved substantially to EUR 93.0 million (Q1 2016: EUR -37.3 million), above all due to positive valuation effects from the investments in CA Immo and BUWOG.
Falling yields across all property sectors and a moderate increase in rental values provides further evidence of growing momentum in European commercial property markets. The findings from CBRE’s Q3 2013 survey of prime rents and yields backs up the picture of recovering investment markets across the region, which have benefitted from increased capital targeting the sector and improved investor sentiment.
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.