Just one year after entering the market, the first residential project of Gránit Asset Management’s housing division has achieved full occupancy at the Elite Park development in Budapest’s District XI. The success of Grandit Homes demonstrates that flexible, modern, and secure institutional rental schemes are becoming an increasingly attractive alternative to homeownership. In addition, Gránit Asset Management actively contributes to the renewal of Hungary’s new housing stock, thereby supporting domestic housing solutions through a dual approach.
Housing issues in the capital and the state of the Hungarian rental market have long been on the agenda, and the launch of the government’s “Otthon Start” program in September further drew attention to the sector, intensifying the public debate on housing. Renting a flat places a significant financial burden, particularly on young people, partly due to the limited number and uneven quality of rental properties available in Hungary. According to the most recent census data, there are around 4 million residential properties in use in Hungary, with 90% owner-occupied and just 9% rented. By contrast, Eurostat figures show that across the European Union, roughly 68% of the population live in owner-occupied housing, while 32% rent.
As a result, Western Europe has a far more developed rental culture: a significant share of the market is made up of institutional players—such as asset managers, banks, or pension funds—that regard real estate as an investment vehicle and manage portfolios of several thousand units.
Grandit Homes has also followed this path, with every apartment in its first project in Újbuda finding tenants within a year. Behind this success lies reliable, professional property management, flexible service packages, and the innovative fulfilment of tenant needs.
“Acquiring one’s own home remains a major challenge for many, which is why interest in safe, transparent institutional rental housing is growing. Our housing division is not only a market success but also a compass: our first 110-unit portfolio demonstrates how professionalism, digital solutions, and tailored services can address changing housing needs. At the same time, it is important to highlight that we are not only active in the rental market, but also in renewing the domestic new housing stock. Thanks to the equity investment we won under the Housing Capital Program, we are even more active in new housing developments, contributing to the expansion of modern, energy-efficient homes. With this dual role, we aim to strengthen the long-term stability of housing solutions in Hungary.”
– said Álmos Mikesy, CEO of Gránit Asset Management.
“Although as an institutional player we face many challenges, we believe our initial experiences have been overwhelmingly positive. The success of our first rental housing project proves that the Grandit Homes model works: our tenants gain security, and our investors gain growth. Looking ahead, we will continue to seek projects where we can shape the full service mix to suit target groups, even on a larger scale. Our goal is to create a competitive portfolio offering an excellent level of service—ensuring satisfaction for both tenants and investors alike.”
– emphasized Tibor Ruzsinszki, Head of Real Estate Investments at Gránit Asset Management.
Gránit Asset Management intends to continue expanding its housing portfolio: on the one hand through smaller “packages” of 30–50 apartments, and on the other through the acquisition of larger portfolios. In the future, the company will also explore nationwide projects where it can purchase entire buildings—enabling, for example, the creation of on-site medical services, community spaces for family and social gatherings, and other value-added amenities.
