Hungarian real estate prices increase at the fastest pace in EU

Budapest, Hungary (Maxime Mialier, CC BY-NC 2.0)

EC criticizes Albania in Economic Reform Program 2019

Bulgaria’s largest telecoms company goes on sale

Central and Southeast Europe

Real estate prices in Hungary increased by 11.3 per cent in the Q1’19, the strongest annual growth of all European Union members, the Eurostat reports. The Czech Republic also saw strong growth of 9.4 per cent. Slovenia and Poland posted increases over 8 per cent, while Bulgaria, Lithuania, Latvia and Croatia saw annual growth of around 7 per cent.

The only country with a slight decrease in the EU was Italy with a drop of 0.8 per cent.

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Albania

The European Commission (EC) has published the 2019 Economic Reform Program (ERP) for Western Balkan countries. EC has criticized the Albanian government for its policy in public–private partnership (PPP) contracts, the value of which have reached the highest level ever — 31 per cent of GDP. The EC predicts that the total value of PPP contracts will increase to a staggering 46 per cent of GDP in 2019. EC underlines that the further increase in value of PPP contracts will also bring an increase in public debt, which officially stands at 67 per cent of GDP.

Additionally EC says that taxes in Albania are collected below potential, the level of competitiveness is low and unemployment among youngsters too high.

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Bulgaria

Vivacom, Bulgaria’s largest telecoms, has been put up for sale. Meantime there is an ongoing dispute concerning an ownership of the company. The litigation is between Bulgarian businessman Spas Roussev, who owns 46 per cent of Vivacom, and Russian Dmitry Kosarev, who bought a stake in the Luxembourg holding company that owned Vivacom prior to its sale at auction in 2015, and now considers he has been diddled.

As the Financial Times newspaper reports, asset management firm, Lazards has been appointed to sell the business, which Financial Times believes could be valued at around EUR1.2bn.

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What’s up in indexes

BET (of Bucharest) increased from 8902.14 index points Wednesday, July 10th to 8987.23 index points Thursday, July 11th. It’s up 0.72 per cent d/d and up 13.9 per cent y/y.

BUX (of Budapest) increased from 40578.00 index points Wednesday, July 10th to 40739.00 index points Thursday, July 11th. It’s up 0.40 per cent d/d and up 16.2 per cent y/y.

OMXR (of Riga) increased from 1017.09 index points Wednesday, July 10th to 1024.51 index points Thursday, July 11th. It’s up 0.70 per cent d/d and down 2.47 per cent y/y.

OMXT (of Tallinn) increased from 1271.37 index points Wednesday, July 10th to 1275.51 index points Thursday, July 11th. It’s up 0.33 per cent d/d and up 1.33 per cent y/y.

OMXV (of Vilnius) decreased from 687.81 index points Wednesday, July 10th to 687.80 index points Thursday, July 11th. It’s down 0.01 per cent d/d and down 2.94 per cent y/y.

PX (of Prague) decreased from 1047.25 index points Wednesday, July 10th to 1047.07 index points Thursday, July 11th. It’s down 0.02 per cent d/d and down 3.79 per cent y/y.

RTS (of Moscow) decreased from 1407.64 index points Wednesday, July 10th to 1398.88 index points Thursday, July 11th. It’s down 0.62 per cent d/d and up 17.9 per cent y/y.

SAX (of Bratislava) decreased from 343.81 index points Wednesday, July 10th to 343.07 index points Thursday, July 11th. It’s down 0.22 per cent d/d and up 3.71 per cent y/y.

SOFIX (of Sofia) increased from 580.60 index points Wednesday, July 10th to 583.40 index points Thursday, July 11th. It’s up 0.48 per cent d/d and down 6.65 per cent y/y.

UX (of Kyiv) closed at 1608.80 index points Thursday, July 11th. It’s the same result as Wednesday’s. It’s 0 per cent change d/d and up 2.03 per cent y/y.

WIG20 (of Warsaw) increased from 2312.77 index points Wednesday, July 10th to 2316.95 index points Thursday, July 11th. It’s up 0.18 per cent d/d and up 7.55 per cent y/y.

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