Rate of vacant office space up in Budapest
The vacancy rate on Budapest's office-space market increased 0.6% in Q2 of 2008 to 12.6% at the end of June, a report from the Budapest Real Estate Consultants' Coordination Forum reveals.
A total of 251,263 square meters of office space lay vacant in Budapest at the end of June 2008, the Coordination Forum reported.
Rented office space in Budapest amounted to 63,000 square meters during the second quarter of 2008, down 14% from the first quarter of the year. Most of them were new rents, with extended contracts accounting for a mere 2% of in terms of space.
The Budapest Real Estate Consultants' Coordination Forum is comprised of CB Richard Ellis, Colliers International, Cushman and Wakefield, DTZ and Jones Lang LaSalle. (MTI – Econews)
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