Feature Report

Find out which hotspots retailers are targetting in EMEA

Research and Consultancy

Our global network of research professionals is unmatched in delivering the information you need to make intelligent business decisions.

CBRE is the globally acknowledged leader in developing market analysis and collecting data.

Our global network of research professionals is unmatched in delivering the information you need to make intelligent business decisions.

Our Research Department maintains and updates a comprehensive database of such factors as total supply, demand, take-up, projects under construction, rental and capital values as well as transactions.

This information, together with detailed knowledge obtained by internal discussions with our corporate real estate, leasing, investment and valuation teams, enables a consistent view to be held on the market.

What we do

Our experienced research team provides colleagues and clients with a full range of information, research and consultancy services covering all aspects of the commercial property market. The team collates data and market intelligence from internal and external sources to provide insight into real estate trends across Hungary.

In addition to publications covering particular sectors and geographic markets, the team also prepares reports and presentations on broader strategic or topical issues that affect the real estate market in conjunction with the EMEA research team.

Our services

The local team in Hungary regularly issues market reports, overviews and feasibility studies and undertakes specific research assignments on behalf of clients when so instructed. If you need any information on the Budapest market, please contact us.

Key Contact

  • Recent Reports

  • European Valuation Monitor MarketView Q4 2012 ( 172KB )
    • Offices were the best performing commercial real estate sector in Q4 2012
    • Across the sectors measured by CBRE, offices recorded a fall of just -0.5% in capital value, with positive performance in France, UK and the Nordics.
    • European capital values remained broadly stable, registering only a marginal decline of 0.8%.  However, this does bring CBRE’s pan-European index to its lowest point since Q3 2009.
    • France and Germany saw values dip marginally over the quarter, (-0.2% and -0.1% respectively) both resulting in an annual decline of 0.5%. 
    • CEE saw capital values decline by 3.9% and 2.2% in Q4 alone.  The office sector, which has a significant development pipeline, weighted this result down, including in Poland (the region’s best performing country) where capital values fell in 2012.
    • Southern Europe and Ireland saw a decline of 4.0% in Q4 and 12.1% over the year, the result of weak economic sentiment and low levels of investment liquidity.
    • The significant revaluation of assets in this region, particularly across Spain, Portugal and Ireland, given the scale of the repricing, could come to represent good buying opportunities.
  • EMEA Office Occupier MarketView Q4 2012 ( 321KB )
    • The final quarter of 2012 recorded the highest level of take-up of the year, driven by an upturn in confidence in a number of key Western European markets. However in southern Europe and fringe CEE the markets continued to be characterised by a lack of large deals and high renegotiation rates.
    • Overall vacancy rates generally remained flat, however this hides significant variations both in terms of the quality and location of available space.
    • Rental levels followed the same pattern as the first nine months of the year, with prime rental growth restricted to the best performing markets and further declines recorded in some of the southern European economies.
    • The development cycle reached its cyclical low in 2012 but is forecast to increase sharply in 2013-14 however this is heavily focused in a few key cities. Outside these locations the speculative pipeline remains low, and occupiers requiring prime existing space will have limited options. 
  • EMEA ViewPoint: Online Retailing December 2012 ( 273KB )
    • The real estate demands of logistics for online retailing differ from traditional store-based retailing in various ways including labour requirements, proximity to multiple delivery destinations, process capability and integration with parcel delivery networks.
    • Online retailing creates a need for logistics networks and buildings to accommodate a different and more fluid set of demands. Supply chains may take a variety of forms due to multiple destination points.
    • Customer demands for a higher quality “delivery experience” are driving change and are a major differentiator for retailers. This raises the need for highly-flexible networks including smaller delivery depots and cross-dock facilities close to major population centres. .
    • This pivotal point in the relationship between retailing and logistics in Europe will offer significant opportunities to those able to respond to occupiers’ highly dynamic requirements in this fast-maturing sector.
  • How Active are Retailers in EMEA November 2012 (Executive Summary) ( 2.52MB )
  • Snapshot Hungary Marketview November 2012 ( 96KB )
    • Office demand decreased by double-digit rate and pushed net absorption into negative. This makes vacancy increase above the 21% line despite lack of new completions.
    • Industrial demand jumped to historical high in Q3 which helped vacancy decline to under 20%. Year-to-date net absorption increased on last year.
    • After a depressed completion volume this year, retail pipeline is building up in Budapest and across regional cities. Best high-street locations mark increasing interest and hence potential rental increase.
    • Investment volume is unchanged on Q2 with EUR 84 million since there hasn’t been a new transactions recorded since early this year. Prime logistics yield moved out by 25 bps for the second time this year.
  • EMEA Mezzanine Lending Market H1 2012 ( 862KB )
    • Who are they and how many are actively seeking opportunities across Europe?
    • What LTVs they are lending up to and who is pushing the bar the highest.
    • Where they are willing to lend?
    • Prospects for development lending.
    • Required returns and how lender remuneration is typically structured.
    • Debt fund raising activity – which strategies are being pursued by funds raising equity.
  • CBRE European Occupier Survey 2012 ( 1.12MB )
  • EMEA ViewPoint: International Capital In London ( 730KB )
    • Since 2008 London Has Attracted 41% of Property Investment from outside Europe. This current influx of international capital is qualitatively different from previous foreign investment flows into Central London property.
    • Sovereign wealth funds and cash-positive pension funds from Asia and the Middle East are becoming increasingly prominent in the market; these investors have particularly long investment horizons
    • A number of factors are driving SWF and cash-positive pension fund investment activity at present, namely insufficient domestic investment opportunities forcing capital overseas; diversification from domestic economies; and domestic regulatory change giving the potential for sizeable amounts of capital to flow into the real estate market from the pension fund industry.
  • EMEA ViewPoint: Fair Enough: Getting Fair Value Right. It's Not All About NAV September 2012 ( 220KB )
  • Hungary Retail MarketView September 2012 (In English) ( 1.23MB )

    Only one scheme (Sió Plaza) handed over this year so far; largest ongoing construction (Árkád Budapest expansion) is due for delivery in 2013.

    Expansion of large fashion brands remained modest; H&M in Sió Plaza and New Yorker in Allee opened the largest new units this year.

    Prime centres continue to enjoy good levels of occupancy and footfall with secondary centres suffering.

    New  high-street entries in Budapest include  Hublot, Moncler, North Face (Andrássy út) and Massimo Dutti (Fashion Street). 

    Retail sales have decreased by over 10% since 2006;  fall stalled last year but expected to continue in 2012. 

    Rents have fallen back from their peak in 2007 depending on format and location; however, they were basically flat on last year’s level.

    Prime yields remained flat on 2011 but  shifted out for secondary products.

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