Budapest office market take-up rises, vacancy rate falls

Industrial

pixabay

The take-up on Budapestʼs office space market rose by a year-on-year 17%, reaching 117,040 sqm in the fourth quarter of last year, with contract renewals accounting for about 45% of take-up, the Budapest Property Consultants Coordination Forum (BIEF) revealed yesterday.

Despite the growing take-up, the market vacancy rate fell by 0.7 percentage point to 16.2%.

Approximately 3,238,000 sqm of A- and B-category office space was available in Budapest at the end of December, and about 2,600,000 sqm of the area was built to rent.

The members of BIEF are CB Richard Ellis, Colliers International, Cushman and Wakefield, DTZ, Eston International, Robertson Hungary and Jones Lang LaSalle.

ADVERTISEMENT

Growth plans and inflation uncertainty in European companies Analysis

Growth plans and inflation uncertainty in European companies

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

MNB and Budapest Institute of Banking executive director Ger... Podcasts

MNB and Budapest Institute of Banking executive director Ger...

FINA head thanks Hungary for hosting 2022 worlds City

FINA head thanks Hungary for hosting 2022 worlds

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.