MIT joins the European Property Federation

The Federation of Hungarian Real Estate Associations (MIT) has become a member of the European Property Federation (EPF). The governing bodies of both organisations approved the move recently.

József Sztranyák, MIT president, said: 'Hungary has enormous potential for property development. That's why we look forward to participating fully in EPF's efforts to facilitate cross-border investment.'

'We support the campaign for an EU REIT regime that would enable property investment companies from all over Europe to use their REIT vehicles for investment in Hungary. Also, EU environment and energy efficiency law targeting buildings has crucial impact on Hungary's new and existing building stock, and we are pleased to be part of an organisation with such a record of constructive involvement in the EU legislative process in these fields.'

John Frederiksen, EPF President, said: 'MIT federates Hungarian property ownership, investment, development and the professions, making it a perfect member for EPF, the only organisation representing the full spectrum of the European property industry. EPF's trademark is the active involvement of its members, and we welcome MIT's expertise and their understanding of the needs of the Hungarian real estate sector.'

MIT (Magyar Ingatlan Tanács - Federation of Hungarian Real Estate Associations) was founded on 1 April 2005 in Budapest. It is a union of Hungarian real estate organisations sharing common professional values and goals. The general aim of the federation is to increase the industry's public profile and provide the Hungarian and EU authorities with a broad and unified representation of the profession. Amongst its specific objectives is improving the quality of real estate education and training.