Boston, MA -- (SBWIRE) -- 11/10/2014 -- Hungary's macroeconomic environment has seen dramatic improvements over the previous quarter, with Real GDP growth far exceeding expectations and prompting revisions to 2014's forecast. While such growth is unlikely to be maintained during H214, the healthier economy is hoped to support a recovery in rental rates within the Hungarian real estate market throughout the rest of 2014 and into 2015.

The Hungarian economy is on the road to recovery with rising industrial production and construction volumes generating remarkable levels of growth in Real GDP. This economic stabilisation is expected to support much needed growth in demand for commercial real estate. In addition, Hungary's recent exit from the EU's Excessive Deficit Procedure should stabilise demand in the office rental segment. Although private consumption has not increased as impressively as economic growth, we still anticipate improvements in consumer spending which will help facilitate an upturn in leasing activity within the retail segment.

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The industrial segment has experienced an uptick in activity during 2014 but is largely reliant upon demand from its largest trading partner, Germany. With signs of stagnation on the horizon for the German economy, Hungary may face headwinds in this segment as 2014 comes to a close.

While the overall outlook for the Hungarian commercial real estate sector is positive, we warn that the market has yet to recover fully from its prolonged period of stagnation following the global financial crisis. As such, issues such as high vacancy rates and weak demand still plague many areas of the market. Rental rates and transactional activity, although set to improve, will not reach pre-downturn levels before 2015 at the earliest.

Recent Developments

- US-based commercial property company Prologis has signed a lease agreement along with DB Schenker for an area covering 26,500 square metres (sq m) at Prologis Park Budapest-Sziget in Budapest.
- Sweden-based...

The Hungary Real Estate Report features Business Monitor International (BMI)'s market assessment and independent forecasts of major construction projects in the residential and commercial markets, plus rental prices and yields in major cities. The report critically analyses the prospects for real estate within the broader economic and financial context - both domestic and global - via our econometrically-modelled and clearly explained banking and economic forecasts and follows this through to evaluate the implications for REITs.

BMI's Hungary Real Estate Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the real estate industry in Hungary.

Key Benefits

- Benchmark BMI's independent real estate industry forecasts for Hungary to test other views - a key input for successful budgeting and strategic business planning in the Hungarian real estate market.
- Target business opportunities and risks in Hungary through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering real estate and construction, regulatory changes, major investments and projects and significant national and multinational company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the real estate sector and within the broader political, financial, economic and business environment.

Market Overview

Overview of the real estate sector, including analysis of existing/planned real estate developments and emerging industry trends in the office, industrial and commercial sectors.

Market Analysis

Features detailed city-level data and analysis on rental prices, yields, contract terms and real estate availability with separate chapters covering the office, retail and industrial sub-sectors.

Industry Forecast Scenario

Historical data series (2010-2012) and forecasts to end-2018 for the domestic real estate industry and for the local and global finance industry. Indicators include:

Real Estate: Office, retail and industrial real estate yields for all major cities (%); short-term forecasts on minimum and maximum real estate rental prices by sub-sector (US$ per square metre, and local currency per square metre)

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