The biggest transaction was the €380 million sale of Arena Plaza, the region’s biggest shopping center, by Israeli property developer Plaza Centers to the UK’s AIM Symmetry Fund. Another big transaction was the €229 million sale of the Corvin Atrium, part of a rehabilitation project in Budapest’s District VIII. Both sales were forward deals -- transactions made before the projects were completed.
German property investors accounted for 14% of the value of transactions on Hungary’s property market last year. Austrian and French investors each generated 13% of transactions. Hungarians accounted for just 3%. Property market yields continued to fall in 2007. Both office and commercial property yields were 6%. Four years earlier, office property market yields were 10% and commercial property market yields were 8%.