The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Currently, there is an attempt for rebuilding Hungary's construction sector. An increase in new
homes built and in the number of building permits issued in H116 has led to a boom in construction
sentiment following the 25.3% decline y-o-y in the volume of construction output over the same period,
primarily caused by the completion of works performed from EU funds at end-2015. The residential
building industry and the railways and power plants and transmission grids sub-sectors will be the only
growth drivers over this year. The construction industry will contract 14.5% y-o-y in 2016, with an average
annual real growth of 1.4% over 2016-2025.
Latest Updates And Structural Trends
? Civil engineering projects have been the primary drivers of the construction sector rebound, with road
and railway projects in particular, driving the civil engineering growth. In June 2016, the volume of
construction output decreased 16.2% y-o-y, the construction of buildings rose by 7.4% y-o-y as a result of
the increase in industrial construction, while in contrast civil engineering works declined by 36.8% y-o-y
due to the completion of works performed from EU funds at end-2015 (Hungarian Central Statistical
? In Hungary, road projects worth more than EUR200mn awarded to several local companies in June 2016.
? The Hungarian government will allocate HUF790bn to railway projects.
? As announced in mid-June 2016, Attila Aszódi, government commissioner responsible for the upgrade of
Paks nuclear plant, stated the building permit for the two new blocks could be issued by 2018, the new
blocks are expected to go online in 2025 and 2026, while Paks could receive an environmental certificate
within 2016 (Budapest Business Journal, 2016).
? As announced on July 13 2016, the value of commercial real estate transactions in Hungary in H116
tripled compared to H115, exceeding EUR910mn, which is more than 2015 s total (JLL, 2016).
? The demand for quality space remained robust on the industrial real estate market in Q216 in Hungary,
mostly driven by renewals, but occupiers are still restricted by the low amount of available space suitable
for their needs (Cushman & Wakefield, 2016).