Up to July 2013 in total HUF 48 billion worth real estate investments were realized in Hungary. The North American and the Middle Eastern investors are more and more active in the European real estate market. They were responsible for one quarter of the Hungarian real estate transactions. Since 2007 this has been Europe's best quarter.According to the newest data of commercial property and real estate services adviser CBRE EUR 163 million (HUF 48 billion) worth investments were realized in Hungary in the first half of 2013. The investments of the second quarter were 6 percent more than those of the first quarter. Apart from that further EUR 40-50 million (HUF 12-15 billion) worth transactions were made by investors who purchased vacant real estates with a good location, which they bought either for their own use or as an investment.
This Has Been Europe's Best Quarter Since 2007
Middle Eastern and North American investors were very active on the European real estate market. They are more and more interested in buying European properties, including Hungarian ones. One quarter of the transactions were realized by them. Compared to the second quarter of last year, this year 22 percent more, in total EUR 32.6 billion (HUF 9800 billion) transactions were realized in Europe; this makes 2013's second quarter the best one since 2007.
The Rate of the Investments Coming from out of Europe Increased
Among the European investors the Germans were the most active: they spent more than EUR 1 billion (HUF 300 billion) on European properties. The rate of the investments coming from out of Europe further increased. In the first quarter foreign investors were involved in 28 percent of the transactions (or 44 percent according to their value); these rates last year were only 40 and 19 percent.
The Middle Eastern and the North American Investors Were the Most Active
Among the foreign investors, those of the Middle East and North America were the most interested in buying European property. Middle Eastern investors were responsible for 21 percent, and North Americans for 24 percent of the European investments. Middle Eastern investors are most interested in office property, although they bought some retail real estate as well. Most part of the Middle Eastern assets came from institutional investors.
Source: www.cbre.hu
