Published: May 26, 2011
Budapest could be the next CEE capital to see a market upturn, says Sparkassen director.
Hungary could be the next country in Central and Eastern Europe to offer attractive deals in the real estate sector, according to the director of a Vienna-based property investment group.
Sparkassen Immobilien director Holger Schmidtmayr tells EMEA Finance that the economic outlook created by Hungary’s falling budget deficit and strong currency could attract dealmakers. However, he acknowledges that would-be investors will need to overcome concerns about issues such as the country’s need for International Monetary Fund assistance. Schmidtmayr adds that one large deal from a Western European fund would be enough to open the market for further transactions.
Sparkassen recently announced first-quarter figures that showed a 60% increase in EBIT to €26.6mn and a 40% rise in profit to €27.7mn.