Q2 2013 started off encouragingly well, with the Hungarian industrial output up by 5.3% (y/y) in April after seven consecutive months of contraction. However, due to the fragility and the overdependence of the national economy on exports, this recovery was short lived, and the May results swung back into the negative territory with -2,1% growth (y/y). Property market fundamentals were largely unchanged over the quarter, albeit weak, with consolidations and a ‘wait-and-see ‘approach the main themes in the current market. Consequently, prime rents and yields held firm over Q2.
Source : Cushman & Wakefield