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East EU Real-Estate Developers Focus on Refurbs as Costs Jump

  • Deals for properties without ESG rating are waning: Adventum
  • EEU real-estate fund sees tight office market in 2-3 years
Cranes erected at an under-construction residential apartment in Budapest.

Cranes erected at an under-construction residential apartment in Budapest.

Photographer: Akos Stiller/Bloomberg

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Skyrocketing construction costs and a growing focus on the environment is triggering a shift in eastern European real-estate developers toward green refurbishment of existing buildings rather than the construction of new ones.