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Real Estate


We offer the benefit of long-standing experience in the real estate market, having advised on some of the biggest logistics, office and retail transactions in Central and South Eastern Europe to date. In an increasingly active property market, we can advise you on complex cross-border property portfolio sales and acquisitions across the region and we can provide industry-specific advice such as leasing agenda, construction and development projects and construction litigation.

Whether you are in the logistics, retail, office, residential, hotels, infrastructure, renewable energy or student accommodation sectors, we have the specialists to help.

If you are searching for real property expertise, strategic thinking and commercial-mindedness, this is the team to call.

Through decades of experience of doing deals across Europe, our multi-jurisdictional teams adhere to the same templates, processes and standards, including project management. This means we can deploy specialist teams to advise you immediately, irrespective of where the real estate assets are. If you are launching or operating a real estate fund or setting up a real estate related joint venture, our funds and corporate experts can give you country-specific support. This approach allows us to guide your tax, planning, debt financing, construction and management issues in addition to your traditional real estate portfolio and property management work.

The dedicated seven-strong Real Estate Team in Hungary is among the top legal advisors on the market. The team advises a premier clientele and often acts on the largest domestic and cross-border transactions. Head of the practice is the first Hungarian lawyer amongst RICS members.

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High­lights of ex­per­i­ence in Real Es­tate & Con­struc­tion in Hun­gary
NEPI Rock­castle on its EUR 275 mil­lion ac­quis­i­tion of the Arena Plaza, the second largest re­tail centre in Bud­apest by means of (i) pur­chase of all the is­sued shares in and share­hold­er loan re­ceiv­ables against Sym­metry Arena In­gat­lankezelo Kor­lat­olt Felel­ossegu Tarsas­ag, the own­er of the mall, from Lanebridge In­vest­ment Man­age­ment Lim­ited and in par­al­lel (ii) a pur­chase of seni­or loan re­ceiv­ables from a con­sor­ti­um of fin­an­cing banks.Fu­tur­eal Group on the sale of eight Bud­apest of­fice build­ings, to­geth­er re­ferred to as the Corvin of­fice port­fo­lio, to OTP Real Es­tate In­vest­ment Fund Man­age­ment. The trans­ac­tion is con­sidered to be one of the largest real es­tate trans­ac­tions of 2018 in Hun­gary.Aten­or on the sale of Build­ings A, B, C and D of the Vaci Green Build­ing com­plex, with an ag­greg­ate value of EUR 180 mil­lion. The Vaci Greens com­plex, which was ini­ti­ated by Aten­or in 2008, in­cludes six Class A of­fice build­ings with a total sur­face area of over 130,000 square meters.A US private equity firm on the €254m sale of the Mam­mut shop­ping centre in Bud­apest to com­mer­cial prop­erty de­veloper NEPI Rock­castle plc. The sale is the largest single as­set real es­tate trans­ac­tion in Hun­gary for 2018.Tor­ony Real Es­tate In­vest­ment Fund man­aged by Diófa Alap­kezelő on the on­go­ing ac­quis­i­tion of an of­fice Build­ing in Buda, with a deal value ex­ceed­ing EUR 50 mil­lion. CMS’s role in­cluded due di­li­gence, as­sist­ance through­out the trans­ac­tion and ad­vice re­gard­ing fin­an­cing.Please down­load the print ver­sion be­low.


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1 July 2020
Sign­ing with e-sig­na­ture in CEE
This guide fo­cuses on the most im­port­ant leg­al areas where elec­tron­ic sig­na­tures are usu­ally used: em­ploy­ment law, com­mer­cial con­tracts, real es­tate law, cor­por­ate law and bank­ing and fin­ance con­tracts. This guide ad­di­tion­ally in­cludes help­ful at-a-glance
06 April 2020
CMS Ex­pert Guide to COV­ID-19 im­pact on con­struc­tion in­dustry
As the en­tire eco­nomy has been hit hard by the out­break of the COV­ID-19, also the con­struc­tion in­dustry is cur­rently fa­cing dra­mat­ic and dis­rupt­ive chal­lenges re­gard­ing fin­an­cial pres­sure, la­bour short­ages and sup­ply chain is­sues. In or­der to help our cli­ents, we have pro­duced a fre­quently up­dated, com­par­at­ive guide over the im­pact the COV­ID-19 has on the con­struc­tion sec­tor across vari­ous jur­is­dic­tions.
27 May 2020
Hun­gary is­sues de­cree re­quir­ing min­is­teri­al ap­prov­al for cer­tain for­eign...
The Hun­gari­an gov­ern­ment has is­sued a new de­cree, No. 227/2020 that in­tro­duces tem­por­ary meas­ures for spe­cial trans­ac­tions re­lated to stra­tegic com­pan­ies in­cor­por­ated in Hun­gary. These meas­ures entered...
20 April 2020
CEE Green­field Guide
This guide to in­vest­ment in the Cent­ral and East­ern European (“CEE”) re­gion is in­ten­ded to help po­ten­tial in­vestors un­der­stand what in­cent­ives are avail­able when in­vest­ing in the lead­ing coun­tries in CEE. It also sets out in­form­a­tion about the pro­cess for
31 March 2020
CMS Ex­pert Guide to COV­ID-19 im­pact on lease agree­ments
COV­ID-19 is dom­in­at­ing the glob­al news and af­fect­ing all areas of busi­ness life. For both land­lords and ten­ants, the ques­tion arises as to the im­pact of the COV­ID-19 pan­dem­ic on their lease re­la­tion­ships. In this guide you will find a use­ful over­view of the im­pact COV­ID-19 has on leases across vari­ous jur­is­dic­tions. Please note that this com­par­at­ive ana­lys­is is based on our cur­rent eval­u­ation and is a sub­ject to fur­ther up­dates and amend­ments.
08 May 2020
Hun­gary an­nounces ex­ten­ded cor­por­ate tax re­lief for in­vest­ments and de­vel­op­ments
As part of the meas­ures taken to re­start Hun­gary's na­tion­al eco­nomy as a res­ult of the coronavir­us epi­dem­ic, spe­cial rules of de­vel­op­ment re­serve have been an­nounced in or­der to help com­pan­ies re­cov­er...
13 December 2019
CMS Bud­apest named Best Real Es­tate Law Firm at CIJ Award for the third...
CMS Bud­apest named Best Real Es­tate Law Firm at CIJ Award for the third time. Find out more.
24 April 2018
CMS Ex­pert Guide to com­mer­cial real es­tate law and rules
Are you look­ing for in­form­a­tion on com­mer­cial real es­tate law and rules? This CMS Ex­pert Guide provides you with everything you need to know.
07 May 2020
The use of ex­perts in in­ter­na­tion­al con­struc­tion dis­putes: con­flicts of...
A re­cent de­cision of the Tech­no­logy and Con­struc­tion Court ap­pears to be the first re­por­ted Eng­lish de­cision to up­hold a fudi­ciary duty of loy­alty in an ex­pert wit­ness ap­point­ment. The find­ing in this...
December 2019
Pr­op­tech Smart Of­fice bro­chure 2019
Our latest CMS Pr­op­tech Smart Of­fice Bro­chure in­cludes a task list which sum­mar­ises the data pro­tec­tion (GDPR) com­pli­ance re­lated doc­u­ments and tasks to be done by op­er­at­ors of smart of­fice build­ings, and the per­sons ob­tain­ing or provid­ing smart of­fice se
01 January 2016
CMS Ex­pert Guide to real es­tate fin­ance law
Are you look­ing for in­form­a­tion on real es­tate fin­ance law? This CMS Ex­pert Guide provides you with everything you need to know.
07 May 2020
GRESB 2020 – It’s Ques­tion Time!
GRESB has launched its 2020 Real Es­tate As­sess­ment. GRESB is the lead­ing glob­al En­vir­on­ment­al, So­cial and Gov­ernance (ESG) bench­mark for the real es­tate and in­fra­struc­ture in­dus­tries. It is a vol­un­tary...