There are plenty of reasons to be optimistic about the outlook for the Hungarian commercial property investment market. This afternoon’s further cut in interest rates, to a fresh record low of 3%, only serves to make property valuations look more attractive, while the economy is growing nicely and the lending environment is loosening up. But while we think this will support a strong rise in investment demand in 2014, this will be from a very low base and with little near-term effect on yields.
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