MNB: the commercial real estate market is characterized by growing risks
The turbulence caused by geopolitical tensions and the future risks of global economic growth will have a negative impact on the demand for commercial real estate, real estate development, financing conditions and real estate investment decisions in the short term, Nagy Tamás Head of the System Analysis Directorate of the Magyar Nemzeti Bank (MNB) said at the online press conference of the central bank’s latest report on Thursday.
According to the MNB’s April report on the commercial real estate market, the unfavorable macro environment – following the Russian-Ukrainian war – also causes strong uncertainty on the demand and supply side of the market. Construction risks have increased and financing conditions have tightened, while demand remains subdued, he said. (MTI)
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