Investment Market Update

Hungary : attractive pricing, risk averse investors - H1 2013

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With two large transactions the Hungarian investment market started 2013 on a positive note. Investment volume totalled €150 million in H1 2013, three times higher than the 2012 annual level.

The investment market is still relatively quiet, as it is challenging to convince investors to trust in Hungarian assets.

Traditional investors chose home and safe markets, but non-European investors looking for good opportunities in Central Europe are looking at Hungary, aiming to buy prime or good quality assets in the capital city.

The volume of smaller transactions is expected to increase, as several local investors are scanning the market to spend a few million Euros on property investment.

Fair value index for Hungary remains cold; there is still a mismatch in pricing expectations between vendors and buyers.

Prime gross initial yields for Budapest have remained in the same range.

Property market sentiment is wary in Europe, as the macro outlook, even if better than expected a year ago, will remain challenging in 2013 and 2014.

Source : DTZ (Groupe UGL)

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Mots-clés : DTZ