The report titled “Hungary Real Estate Market Outlook to 2022 – by Residential (Dwellings Constructed by Regions, by Builders Type, Holiday Units Constructed by region, Dwellings Leased by Regions, Dwellings Sold by Regions), by Commercial, Retail and Hotel” provides a comprehensive analysis of Hungary real estate market introduction and genesis, Hungary real estate market size by value and market segment by residential real estate market (Dwellings constructed by regions, Residential dwellings constructed by type of builders, Holiday units constructed on the basis of region, Dwellings leased on the basis of regions, Dwellings sold on the basis of regions) by Commercial real estate market (Hungary commercial real estate by volume, Budapest commercial real estate by volume, Budapest commercial rental real estate market) by Retail real estate market (Volume) by Hotel real estate market (Capacity of accommodation establishment, Tourist nights at Hotel, Tourist arrivals at accommodation establishment). The report covers the overall competitive landscape; government role and regulations, trends and developments, snapshot on Hungary online real estate market which covers overview of online companies operating in Hungary, business model, comparative analysis on business model, company profile of online real estate companies. The report also covers SWOT analysis, future projections for real estate market in Hungary along with analyst recommendation.
Market Size: Hungary real estate market contributes a substantial share in Hungary’s overall GDP with infrastructure projects accounting for highest spending. The growth in Hungary real estate market has been driven by four major segments namely- residential, commercial, retail and hotel sectors. Out of all the segments, residential segment has dominated the Hungarian real estate market. In Hungary, some of the major cities which have seen the development of real estate sector have been Budapest, Debrecen, Szeged, Miskolc, Pecs and Gyor. The real estate market has witnessed positive growth in residential market during 2012-2017.
By Residential Real Estate Market: Hungary Residential Real Estate Market has performed exceptionally well in response to increasing demand for homes by growth in number of immigrants, increasing tourists density in the country and reduction in VAT rate. Major dwellings constructed in Hungary are in other towns and country towns as price of land is low as compared to price of land in Budapest. Hungary residential real estate market is supported by economic growth and influence of increasing expat population. Overall residential market volume has increased at a positive CAGR during the period 2012-2017.
By Commercial Real Estate Market: Hungary Commercial Real Estate Market majorly comprises of office space that has witnessed a growth during 2012-2017 as many multinational companies established themselves in Hungary, attracted by the strong business activities and robust economic growth. Occupancy rate has reached to record high rates in 2017 for commercial office space. The commercial rental market is mainly concentrated in Budapest, where the SSC (shared service centers) and BPO sector with the introduction of major companies like British Telecom and others hold the majority of transactions in its commercial market.
By Retail Real Estate Market: Hungary retail real estate market volume has registered a positive slow growth during the period 2012-2017. Hungary retail real estate market has been supported by real income of the citizens and the majority of young population. Budapest retail market is mostly dominated by 3 malls- West End City Center, Corvin Plaza and MOM Park along with high street market. There was no new supply for years 2014-2016 as there was plaza ban on new construction above 300 square meters of property in Hungary from 2012-2014.
By Hotel Real Estate Market: Hungary Hotel real estate market has showcased a rapid surge in gross income generation from accommodation fee at a double digit CAGR during 2012-2017. Major chunk of income from accommodation fee of Hungary hotel real estate comes from 4-star and 3-star hotels in 2016.
Snapshot on Hungary Online Real Estate Market:
In Hungary, online property portals are increasingly becoming a platform for research on buying, selling or leasing residential, commercial, retail and other kind of properties. Revenue for these portals is derived by offering a packaged deal to brokers, developers and professional agents, as well as several online property agents. The basic business model for these portals is to charge commission once the property is bought or sold. The online property market in Hungary has been dominated by a few real estate portals such as Themovechannel.com, Primelocation.com and Zoopla.CO.UK, Mybudapest.home.com, Alberlet.hu, Hungarianhouses.com, Tranio.com, Budapestrent.com, Flat-Rent-Hungary.com and Mhomes.hu. The sales proportion of real estate properties through online market has consistently grown owing to rising internet penetration, growing demand of internet among youngsters, surging youth population and opportunities by government infrastructure investments. The online market is anticipated to be vibrant during the upcoming years, boosted by growing number of property portals.
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