CB Richard Ellis Says Real Estate Investment Has Increased in CEE

”Investment volume in real estate in Hungary amounted to around 500 million euros in 2009, out of which 77 pct was generated in the second half of the year.

This figure includes the value of owner-occupied properties as well, so the neat turnover was only 260 million euros,” says CBRE, Real Estate Adviser in its recent press release. They predict investment turnover to reach 400 million euros by 2010. Nevertheless, CEO Tim O’ Sullivan says that there is a relative shortage of the premium category, centrally placed properties, which are mostly sought by international investors. ”Buyers are ready to purchase, but they only grasp the suitable opportunity.” Compared to previous years, local investors generated a higher turnover in real estate investments in CEE, and primarily bought realties from the speculative supply, not so much from the premium category.

News Monitoring