Gránit Pólus: this is expected in 2024 on the commercial real estate market

By: Trademagazin Date: 2023. 12. 19. 12:32

This time, the giants of the commercial real estate market, rather than the film industry, met in Cannes to present the main trends of the sector. According to expectations, the prospects for the real estate sector, which is not having its best year this year, are favorable for 2024, both in terms of occupancy and new investments. In addition, however, it is necessary to prepare for serious challenges and trends in the future, such as the merging of real and e-commerce, as well as the support of brand activity, while compliance with ESG expectations has also reached the sector. All this requires definite changes at the level of the relationship between tenants and landlords.

This year, the MAPIC conference, one of the most important international forums of the real estate industry, was entitled Age of Responsible Growth: Committing to a better future, and in the spirit of this, it focused on the development and responsibility of the commercial real estate sector.

“Commercial, entertainment, catering and real estate market players have projected growth in the sector by 2024, which is supported by the currently increasing average vacancy rate of 3.5% at European level and higher new investments compared to other real estate sectors. He was able to achieve the latter despite the fact that the total number of real estate investment transactions fell significantly, falling in volume to the level of 2009. The decline can also be seen in the turnover data, although due to the effect of inflation, it “only” dropped to the 2019 income level”

– Miklós Gyertyánfy, deputy general manager of operations of the Gránit Pólus group, which also operates the Westend multi-functional building complex, informed about the conference.