GTC is planning to launch a new housing project in Budapest totaling 271 new apartments while the first phase of 100 apartments will be build in the Sasad Resort, south Buda. The price of the apartment will be continuously rising, hence the lowest price will be achievable at the beginning of the sale.
Our view: we continue to see a demand for new residential projects in Emerging Europe while the marketing tool of continuously increasing the sales price should increase the number of pre-sold flats reducing the development risk and improving project cash flow.