BUDAPEST: The Hungarian commercial real estate investment market produced a nearly €300 mln turnover in the first half of the year, of which income-producing assets valued at €250 mln changed hands. This figure fell short of prior expectations because the closing of some transactions were postponed to the third quarter, Gábor Borbély, Head of Research at CBRE Hungary said in a press release issued today.
According to Borbély, apart from seasonal justifications, the uncertainties surrounding the Greek crisis also played a role in the summer slowdown, as it prompted several investors toward generally cautious behavior. He added that the second half of the year could in fact be much stronger, the pending transactions alone could double turnover.
Borbély believes that by early fall it will be easier to determine what kind of larger transactions will close the investor spurt by December and how much this yearʼs sales will surpass last year’s 470 mln turnover.
