Cordia has begun the conversion of an office building into a residential project adjacent to Corvin Promenade, adding more than 200 apartments to its Budapest portfolio. This initiative is part of the company’s broader response to growing demand in the city’s new-build housing market. In 2025, sales of newly built homes in Budapest have significantly increased, with nearly 4,000 units sold in the first four months—double the number from the same period last year. This has been accompanied by a 6% rise in average prices compared to December 2024. The average price per square metre now stands at HUF 1.777 million (EUR 4,425), with values approaching HUF 2 million on the Buda side and HUF 1.7 million in Pest. Cordia has already launched five new residential developments this year, offering over 1,000 units, and expects to release several hundred more apartments during the second half of 2025. The new Corvin Campus project is being developed within the existing structure of the Corvin Innovation Campus. Originally planned as an office building, it will now provide residential units, including a high proportion of studio and one-bedroom apartments designed to appeal to investors. The development is located close to Semmelweis University, Metro Line 3, and the Corvin Promenade, areas known for high rental demand. The building will include eight storeys above ground, three levels of underground parking, 400 square metres of shared space, and a rooftop terrace. Cordia is offering buyers a 10/90 payment scheme, allowing a 10% reservation payment with the balance due at completion. The architectural redesign is being managed by Radius B+S, the original designers of the building. Cordia notes that reusing the existing structure reduces environmental impact and shortens the construction timeline. Some units will have ceiling heights above three metres, reflecting the flexibility of the existing framework. According to Cordia, this project is the first functional conversion of its kind in the central part of Budapest and is part of the Futureal Group’s broader strategy to adapt to shifting dynamics in both the office and residential markets. Cordia expects demand to remain strong through the rest of 2025, supported by maturing government bonds and a stabilising economic outlook. The company projects total new home sales in Budapest to surpass the 7,400 units sold in 2024.