Hungary appeared with a common Budapest booth at Expo Real also in 2017
2017. 10. 06.
At Europe's largest real estate event, the Expo Real, organised between 4 and 6 October, the Municipality of Budapest, the Hungarian Investment Promotion Agency (HIPA) and the Real Estate Developers' Roundtable Association (IFK) joined forces this year and presented the ongoing and planned projects of our capital at a common Budapest booth. In addition to government and municipal projects, and real estate developments by market players, the Liget Budapest Project also received a prominent place at the stand. The Smart Liget system planned for Városliget was presented to the international audience here for the first time.
Year after year, 1,700 exhibitors from 77 countries and nearly 40,000 real estate decision-making specialists participate in the most important European real estate exhibition organised in Munich.
Due to the economic growth and stability of our country, there is growing investor confidence and interest in Budapest, and the projects are implemented and sold at an unexpected pace. The city is developing and is being built, and in fact an increasing number of high priority projects are underway across the country.
According to the most recent data of the world's biggest real estate consultant, the CBRE, investors spent nearly EUR 1.4 billion already on the Hungarian commercial real estate market in the first 9 months of 2017, so it seems increasingly certain that the outstanding volume in 2016 (EUR 1.54 billion) will also be surpassed and the total amount will remain in the range of EUR 1.6 to 1.7 billion until the end of the year. In terms of market segments, each of the office and retail market had a share of 41 per cent of the total turnover in the first 9 months of 2017, while the remaining 18 per cent involved industrial properties. According to forecasts, the total value of the Hungarian real estate investment market in 2016 and 2017 easily exceeds 3 billion euros, which represents record high liquidity. As a result of its growth since 2012, Hungary represents an increasingly important portion of the real estate investment turnover in the Central and Eastern European region.
Róbert Ésik, President of HIPA, pointed out that 'In addition to stimulating traditional production and service industry projects, our goal is to find as many investors interested in the development of industrial properties or office buildings as possible. The period of economic growth and stability is favourable for investments. The HIPA is currently negotiating with more than 100 companies that are examining Hungary as the location of their next investment. If we consider only the projects "toeing the start line", they may represent the investment of EUR 8 billion and 22,000 new jobs for the country.'
The primary goal of the Budapest booth established within the framework of this unique cooperation was to reach out to the greatest possible number of potential investors at Europe's largest real estate industry market and to present leading developers and projects. The project presentations provided a comprehensive overview of ongoing and planned future investments on the residential and commercial real estate market. Internationally also renowned real estate developers in Hungary, i.e. Atenor, Forestay Development, the Futureal Group, Gránit Pólus, Horizon Development, TÓPARK 'BE MY CITY', TriGranit and WING also exhibited at the stand. The field of real estate law was represented by Lakatos, Köves and Partners Law Firm ranked first internationally, Oppenheim Law Firm and Knight Bird & Bird Office. The exhibitors include the world's leading real estate consultancy companies, the CBRE and Colliers International celebrating its 25 years of existence in Hungary this year and one of our country's leading audit, tax and business consultancy companies, the KPMG.
