The above statement –among others - was also presented at MIPIM, the world’s leading property fair, in France, which featured an official Hungarian stand for the first time in years.
Hungarian property developers in Cannes
At the annual property conference the improvement of competiveness and the risk mitigation of CEECs were also discussed. The main market operators of the region were present together with Noah Steinberg Chair of the RICS Board in Hungary, Chairman and CEO of WING, one of the largest privately held Hungarian real estate developers.
“Property market is based on trust”
- stated Noah Steinberg in a session exploring aspects of trust and the need for reliable data to offer transparency. The American estate developer considers the following requirements essential for building projects with real values:
- Tenants need to trust in the future of their business to enter into a long term contractual relationship.
- The bank needs to trust in stable economic growth.
- Investors need to trust in certain and predictable legal and economic environment.
”Reliable and precise information and data are the cornerstones of trust. Standards developed by the RICS can provide precise and overall information about properties” – added Steinberg.
Hungarian real estate market can see a significant growth
Real estate executives and investors expressed optimism over the investment tendencies of the Central-Eastern European region that can expect economic growth and meaningful developments in real estate market, especially, in Budapest, Prague and Sofia. These optimistic expectations can change, however, if local markets will not able to grant predictable and uniform conditions.
(Source:http://www.portfolio.hu/ingatlan/iroda/budapest_oriasi_fejlodes_elott_all.1.229503.html)
