Hungarian real estate market could benefit from Brexit

Budapest, July 20 (MTI) – Britain’s forthcoming exit from the EU may have positive effects on the real estate market both in Hungary and in western Europe, the portfolio manager of OTP Bank’s Real Estate Investment Fund said in an interview published by business daily Világgazdaság on Thursday.

Attracted by the prospect of a 7-8 percent yield on investments, British investors have over the past years turned to the Hungarian real estate market with keen interest, László Kovács told the paper.

The total volume of real estate transactions dropped in London by 47 percent to 6.7 billion euros during the first three months of the year, compared with the same period in 2015, Kovacs said.

The decline during the period was 43 percent for the whole of the United Kingdom, he added.

Source: MTI