Lawyers – when not battling in a courtroom – are perhaps most widely identified in Hungary with the image of an attorney countersigning a document. Countersigning is indeed essential for most legal transactions, in some cases mandatory by law. The function of countersigning is on one hand to prove that an attorney has duly identified […]
Residential tops the sectors in one deal across the CEE region but, offices (27% share) have maintained their place in the order of preference, closely followed by Industrial and Logistics (26% share) in the first quarter of 2020, according to the latest market report by Colliers International. Transaction volumes were very healthy in Q1 at […]
The COVID19 epidemic has also radically transformed the way customer services work. Due to restrictions, customer activity has slowed down and contact with the customers has been re-established. Due to the economic difficulties, the willingness to pay is expected to weaken, which may lead to an increase in the debt portfolio and a decrease in […]
A new type of coronavirus epidemic may also affect the timing of ongoing or planned company transformations and group-level structuring processes, but may even necessitate such reorganizations, according to a new study by Deloitte Hungary. Fearing the consequences of the economic crisis, the question rightly arises for farmers: what tools do they have to maintain […]
The Budapest Research Forum (BRF), which comprises the real estate firms CBRE, Colliers International, Cushman & Wakefield, ESTON International, JLL and Robertson Hungary, sets out below its Q1 2020 industrial market snapshot. In Q1 2020, 40,010 sq m of new space was added to the total modern industrial stock in Budapest and its surroundings, as […]
The World Health Organization (WHO) declared the spread of the COVID-19 virus a global pandemic, and national governments declare emergency situations after one another. It is needless to say that uncertainty has taken its toll on the global economy. The foregoing is expressly true to cross-border and domestic M&A transactions where within a very short […]
The Hungarian government wishes to put some of the burden of handling the coronavirus pandemic by levying special taxes on banks and retail chains. The latter mainly concerns the multinational retail chains present in Hungary as the Hungarian store chains were made exempt from this tax by the government, according to a new study by […]
Local firms – as much as international corporations – find themselves pondering these days more and more frequently, whether they can or cannot suspend lease payments for their shops, restaurants now temporarily closed due to the menace of the coronavirus epidemic. Lessees expect the courts — in light of the present situation – to be […]
Handling the Covid-19 coronavirus situation seems to be one of the biggest challenges of our post-’89 new world – but also a possibility to rethink and recalibrate European co-operation and maybe the entire European project. The end of a period and hopefully the beginning of another one. Ruling by decree in a war-style fashion sounds […]
Humanity is facing the greatest challenge of the 21st century: this coronavirus differs from the hitherto known influenza that we learned to live with. It is an epidemic that already takes its toll on our daily lives and has significant impact on our work. The Hungarian Government has also slammed on the brakes and introduced […]
Approximately 10% depreciation of most of the CEE currencies in February and March 2020 puts both landlords and tenants in a very unfortunate predicament, according to a fresh report by Colliers International. Countries that have not adopted the Euro, or are not pegged to it, have each seen about 10% depreciation in currency value, during […]
Tourism and hospitality are among the first victims of the economic storm caused by the COVID-19 coronavirus. Businesses in the sector began feeling the negative economic effects directly after the first domestic disease was reported. The government announced early on that some support would be needed to help the sector survive the difficult period ahead. […]
Q4 2019 data indicate that the property market is in a state of change in Hungary. The latest analysis by the Duna House property agency says that for the first time in many years, the majority of residential property indices of Duna House are falling, but the price index of brick and mortar apartments in […]
Similarly to 2017, Airbnb activity in Budapest increased by 25% year-on-year last year with overnight stays exceeding 1.8 million. Overnight stays recorded by the end of last year surged by 70% compared to 2016, according to a report released by Colliers International and Hotelschool The Hague. The Airbnb services in Budapest comprise more than 10,000 […]
Property market turnover in August was weaker than the usual, producing the weakest summer season of the past four years. Because of a strong year start, the complete data of the first eight months shows no major decrease when compared to previous years, according to the latest Duna House Barometer report.On the Buda side of […]
