Above plan - Hungary's leading housing developer launches 1,500 apartments, up by fifty percent this year

The recovery in the Hungarian new housing market is not only setting records on the consumer side, but also having a significant impact on the construction industry and, through it, the economy. Hungary's leading residential developer, Cordia, part of Futureal-csoport, will launch sales of nearly 1,500 new homes this year instead of the planned 1,000, which will mean some HUF 130 billion in orders for the construction industry.

Big leap in the number of housing sales in Budapest

In the April-June period, 50% more new homes were sold in Budapest compared to the quarterly average for the years 2017-2024. In response to the demand, driven by the Otthon Start loan programme and the funds freed up by the retail government bond maturities, Cordia announces the sale of one and a half times the number of apartments announced at the beginning of the year, with nearly 1,500 more apartments for sale this year.

 A major 130 billion boost for the sector

"By exceeding our original plans and increasing the number of apartments advertised for sale in Budapest by 50 percent this year, we are also making a significant contribution to the growth of the construction industry, one of the engines of the Hungarian economy, as a leading player in the market. These developments represent an order intake of around HUF 130 billion for the sector. Cordia is able to respond so flexibly to the increased demand thanks to its leading position in the market and its reliable and stable partner and supplier relationships" - said Tibor Földi, Chairman of the Board of Directors of Cordia.

The company's portfolio also includes apartments and luxury homes

It is a particularly diverse portfolio, with everything from city centre apartments for rent, one-and-a-half bedroom apartments, family homes in green belts to luxury penthouses with panoramic views. The biggest contributor to the nearly HUF 130 billion value is the first phases of Marina City, launched last year, which is being built on 14 hectares of land directly on the Danube, in a rust belt area, in a car-free environment. Together with the fourth phase, which will soon be launched on the market, this project represents more than 40 percent of the value of orders.

 Apartments in Budapest and Fonyod come on the market

The remainder is shared by developments such as the second phase of Woodland, 269 apartments in the Millennium district of District IX; the Corvin Campus, a continuation of Corvin Promenade, a 200+ apartment complex that will be a conversion of a building originally designed as an office building; the fifth phase of the green belt Thermal Zugló, 199 apartments, which will be completed; and one of Buda's most popular residential developments, the next two residential buildings of Sasad Resort, with a total of 133 homes. The developments are not limited to the capital, as registration will soon open for a small number of apartments in a project on the southern shore of Lake Balaton, in Fonyód.