Accurate records = a more transparent real estate market RERA (Real Estate Research Association) has been founded

Thanks to a collaboration among three real estate companies (Colliers International, EHL Hungary and Eston International), each with significant market share and presence, RERA (Real Estate Research Association) was founded as of January 1st, 2010.

RERA’s founding members aim to establish a long-term cooperation in which they can create complex (office)market analyses and realistic forecasts by gathering and objectively processing precise market data for the benefit of all players on the commercial real estate market.

The members of the association agree that – due to its unique nature and characteristics – Hungarian market requires a specialized approach. The group sees as one of its most important tasks to initiate a service to fill the void: a service where all research and activity is based on conditions dictated by the Budapest real estate market.

RERA wishes to create a new, objective and unified database based on the formula agreed upon by its members, which allows for consistent and descriptive analysis, as well as other detailed statistical reports.

The reason why this initiative is unique is because market indicators are not measured by international standards, but rather by local Hungarian standards based on a categorization of yet-unseen precision, in synergy with each other – such agency collaboration has never been seen on the market. As per the above, RERA determines the following submarkets: CBD, North Pest, Váci Corridor, South Pest, Inner Buda, South Buda, North Buda and Periphery.

 
Office building categorization consists of two main components that are: technical specification and location. As opposed to the traditional notation, buildings will be defined with two designations (e.g. AA means: technical specifications graded A, and location specifications also graded A).

The first RERA report will be available from the second week of February; following editions will be published quarterly.