Covering the entire value chain of the Hungarian property market – from concept to operation, from financing to marketing – the two-volume work brings together knowledge in Hungarian in a business-oriented and much-needed way. The publication builds on over a decade of experience from Corvinus’s postgraduate programme in Real Estate Management and was written by leading academics and key players in the Hungarian property industry. 

The Hungarian real estate sector has long been waiting for a new reference work, as the last comprehensive publication came out decades ago. Corvinus’s new book offers a broad overview of real estate development, investment and management. It is aimed not only at students, but also at the wider professional community: property owners, developers, consultants, architects, investors, fund managers, financiers, legal and valuation experts, brokers, franchise partners, as well as representatives of building authorities, municipalities and state asset managers. 

Readers will learn how to plan real estate developments, how they fit into urban growth, and how the property market functions – including farmland. The volumes also cover real estate law and registration, sales, the economics of investment, architecture and construction management, as well as facility and asset management. Sustainability and digitalisation, two of today’s most pressing issues, are also discussed in depth. 

The content and authorship of the encyclopaedia are closely linked to Corvinus’s postgraduate Real Estate Management programme. For more than ten years, students in the programme have been gaining competitive and comprehensive knowledge, deepening their professional experience in the real estate market, and preparing for leadership roles both in Hungary and internationally. 

Good decisions require many professions 

The book starts from the idea that real estate development is not only an architectural task, but also involves capital allocation and risk management. Ultimately, developer profit is shaped by location, financing structure, timing, planning and construction management, the legal-regulatory environment, and the state of the market. In the foreword, editor Péter Gerő, head of the Corvinus Real Estate Management programme, notes that the Hungarian property market is one of the least efficient: fragmented and information-poor, with unpredictable permitting and a supply side slow to react to changes in demand – all major sources of cost and risk. 

At the same time, participants in the sector have highly diverse interests, regulation is complex and constantly changing, supply and demand relations are hard to read, and sound transactional decisions require the expertise of many professions, from engineers and lawyers to urban developers. The book addresses all this within the framework of the development process itself, following each step and highlighting the professional decisions behind them. 

The book, published with the support of Gestor Befektetési Zrt, is available for purchase at this link. More information on the Corvinus Real Estate Management postgraduate programme in Hungarian can be found here.