”This sale is another example of an occupier/end user buying an existing building for its own purposes”, says Tim Hulzebos, MD for Colliers in Hungary. ”Especially when the pricing is attractive, typically some 50-60% of replacement value, companies are interested in acquiring these assets instead of developing their own building, which takes time, efforts and money and which distracts them from concentrating on their core activities.”, says Hulzebos.

”It is mostly companies from the automotive sector - who are looking either to establish or to expand their business in Hungary - we are selling these buildings to, but in the case of a building in the Budapest region, the group of buyers is bigger and more diverse.”, says Tamás Beck, Director of Industrial Agency at Colliers Hungary. ”Another good example of this trend is the former Samsung building in Szigetszentmiklós, which we sold earlier in the summer to a Chinese TV-producer, looking to start up production in Europe.”, says Beck, adding that Colliers is currently marketing a number of these buildings in the greater Budapest area and in the countryside, all attracting healthy interest and with a good chance to be sold.

Source: Colliers International