We saw an increasing number of developers on the purchaser side.

Institutional investors were the most active investor class with a share of 65%, a 12% decline compared to 2019. This was partially caused by the fact that domestic real estate funds saw a weakening retail investor appetite for their investment notes. Apart from domestic real estate funds, we saw foreign and domestic pension funds, insurance companies and private equity houses as well as foreign real estate funds on the purchaser side.

Purchaser type

An increasing number of development properties being traded corresponded to an increasing number of developers on the purchaser side, who accounted for 15% of our transactions. The share of corporate occupiers slightly fell to 10%.

Origin of purchaser

The trend of domestic investors carving out ever greater slices from the investment pie slowed in 2020 as the share of domestic investors dropped to 61% from 72% in 2019. Within the domestic investor group local real estate funds and private equity funds are most active. We have seen continued interest from clients both from the Far East and the Middle East; however, a limiting factor for them was that large ticket size assets are few and far between on the Hungarian commercial real estate market. The share of purchasers domiciled in the EU jumped from 16% to 23% in 2020.

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