Commercial property investments in Hungary up 58%

Commercial real estate investments in Hungary grew 58 percent y-o-y to €0.6bn in the first half of 2019, according to the national bank. Office investments made up 59 percent of the total, while hotel deals account for 16 percent. Industrial and logistics amounted to 11 percent, followed by retail with 10 percent of the total. Hungarian companies were the biggest commercial property investors (63 percent), followed by investors from Germany, with 12 percent and South Africa and France, accounting for 8 percent of the total each. Available office space in Budapest stood at 3.65 million sqm at the end of Q2. Vacancy fell to 6.3 percent in June, with 591,000 sqm of office space under development, up 23 percent y-o-y.