Now he is studying to receive a postgraduate master’s degree in real estate at Budapest University of Technology. After the graduation he would like to become the member of the Royal Institute of Chartered Surveyors.
In general people move from consultancy to developers’, landlords’ side on real estate market. What was the reason for your decision?
I managed to get acquainted with the features of retail market from landlord’s side in my previous job. The theoretical and practical experience that I gained in the past years helped me to be able to react flexibly and effectively to the challenges of the economic environment which changed due to the crisis. Now I had the opportunity to utilize my experiental capital as a consultant and represent landlords and occupiers. GVA Robertson is a determining participant of Hungarian real estate market, their business results and the positive feedback from their clients have contributed to my choice. I decided on the change because of the reasons listed above but first of all because of the challenge which is slightly different from the previous ones.
What are your expectations concerning retail market?
After significant decrease of average rental fee of last year and the previous year rental fees already have been stagnating this year. I have experienced a slightly bigger interest for leasing retail spaces, there is a bigger inclination for opening new shops. The interest and inclination is bigger in frequented places, but tenants expect much more favourable rental conditions than previously. In 2011 in addition to the large developments in Budapest (Váci 1, KÖKI Terminal ) some shopping centres are to be delivered in the countryside, too, which will have an intensifying effect on the market. It is not easy to forecast, but based on the market participant’s behaviour and feedback we can be a little optimistic about the next year of retail market.
Further information:
GVA Robertson: 36 (1) 327-2050
Background information:
GVA Robertson
Budapest-based GVA Robertson provides a wide range of comprehensive real estate services from initiation to realization.The Hungarian office was founded in 2001. Local market knowledge, combined with the staff’s expertise and experience enables the firm to deliver services to international and national clients throughout Hungary.
Major clients are foreign banks and international investment funds, private investors, development companies, insurance companies, and brand retailers.The office and retail team has the capacity to act for landlords (finding the right tenant, negotiating the best terms with the least possible risk involved) and to give independent advice to tenants (acquiring the most suitable property in the right location, providing the most cost-effective solution). In addition, GVA Robertson also handles investment deals, including acquisition and disposition focusing mainly on retail, office and industrial sectors.
www.gvarobertson.com
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