Property sector calls for knowledge-based initiatives

by Andras M. Badics Friday, July 2nd, 2010

A Budapest conference on Thursday called for initiatives supporting a stable business climate for the property sector, as a recent Hungarian Statistical Office (KSH) study reported worrying trends in the Hungarian real estate industry, such as 15.7% decreasing volume of construction.

According to Henrik Toth, the President of the Joint Venture Alliance’s Economic Strategy Commission, the sector has progressed from decreasing growth to increasing growth, despite the effects of the crisis.

Toth stressed that one of the primary goals is that demand should be increased, and suggested cooperation in flood relief initiatives could contribute to this.

Anna Gaspar, CEO of Buildecon said Hungary contains a significant knowledge base related to construction, which could be exploited by focusing on exporting technology.

Gaspar said policy should be focused on job creation, energy efficiency and education to prepare for Hungary’s upcoming EU presidency.