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

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.