Global CRE Trends & Tax Moves: What You Need to Watch

May 27, 2025

Comprehensive Overview of Hungary's Real Estate Market Trends and Insights for 2024

Cushman & Wakefield’s latest report on Hungary’s property market reveals a landscape shaped by repurposing, sector resilience, and cautious investment.

Here’s the breakdown:

• Office Market Shift: 23,300 sq m of Budapest office space removed from inventory due to repurposing.
• Retail Rebound: Early 2025 retail sales rose 2.7% YoY, with projections of 3.7% growth in 2026.
• Industrial Strength: 100,300 sq m added to the industrial pipeline, now totaling 5.7 million sq m.
• Investment Snapshot: €400M in 2024 CRE transactions, with high street retail and hypermarkets leading the way.

While activity mirrors post-GFC levels, retail sector momentum and industrial growth hint at long-term potential.

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The U.S. housing affordability crisis enters its third year, with high prices, rising interest rates, and stagnant wages keeping homeownership out of reach for many.

Key insights:

• Equity Divide: Barriers to ownership widen the gap in generational wealth and financial security.
• Rental Pressure: Demand continues to shift toward multifamily assets, impacting leasing strategies.
• Policy Spotlight: Experts call for targeted zoning reforms, builder incentives, and wage-growth alignment.

For CRE professionals, the crisis is reshaping housing demand, tenant behaviors, and long-term urban development trends.

Market Revival: Surge in Demand for Large Apartment Complexes Amid Political Stabilization

South Korea’s apartment market is roaring back, with political clarity boosting developer confidence and consumer demand.

Market highlights:

• Supply Boom: 17,452 new units across 18 large complexes launching in May–June.
• Pricing Upside: Complexes with 1,500+ units saw 8.87% YoY price growth.
• Buyer Appetite: Subscription ratios for top-tier projects hit triple digits.
• Location Watch: Seoul and Busan set for major launches, enhancing regional market depth.

The demand for integrated, large-scale communities signals a clear shift in buyer preferences and market recovery momentum.

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California’s complex capital gains tax system continues to challenge high-net-worth investors and property owners. As of 2025, gains are taxed as ordinary income, ranging from 1% to 13.3%, with an additional 1% for high earners.

What to know:

• High-Stakes Geography: The state’s tax burden fuels outbound migration trends among asset-heavy earners.
• Real Estate Relevance: Exemptions for principal residences and strategic 1031 exchanges remain critical tools.
• Tax Planning Imperative: Investors are urged to proactively manage holding periods and transaction timing.

This evolving landscape underscores the importance of financial planning for CRE professionals operating in high-tax jurisdictions.