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Budapestʼs vacancy rate for industrial property market falls to 14.5%

Industrial

The vacancy rate on Budapestʼs industrial property market fell 6.7 percentage points to 14.5% in the first quarter of 2015 from the same period a year earlier, the Budapest Property Forum (BPF) said yesterday. 

Take-up in the first quarter was 105,860 sqm, down 20% from the previous quarter, but 40% higher than the average quarterly activity of the past five years, they added. Contract renewals accounted for 33% of the total.

There are 1,885,000 sqm of modern industrial property on the market in Budapest. BPFʼs members are CB Richard Ellis, Colliers International, Cushman and Wakefield, DTZ, Eston International, Robertson Hungary and Jones Lang LaSalle.

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