Office
It remains an open question when investment activity in Hungary and the CEE region will pick up ater a subdued period due to concerns over the cost of finance, and the uncertain economic and geo-political environment, says real estate editor Gary J. Morrell. Another worry is how long yield corrections will continue.
Despite concerns over the cost of construction and debt finance and also around demand, healthy pipelines remain in the industrial, hotel and office sectors. All projects must be of a standard to meet changing tenant, customer, staff and guest expectations regarding the quality and design of space and increasingly strict and all embracing sustainability requirements.
“I don’t expect much noise on the investment market in 2024, but we also know that there is money to be spent, so I am certain we will see some interesting deals,” comments Valter Kalaus, managing principal at Newmark VLK Hungary. “I expect 2024 to be a difficult but interesting year.
I don’t anticipate many new projects, but I do expect some interesting resurrections of old ones and re-births of some forgotten ones. Both the office and industrial segments might show good signs so that we might see some noteworthy transactions. Tenants who are in the position to make a move can most certainly get some outstanding deals,” Kalaus adds.
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