Industrial property market takeup falls 19% y.o.y. in Q3

Industrial

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Take-up on the industrial property market in and around Budapest reached 143,500 sqm in the third quarter, falling 19% from the same period a year earlier, the Budapest Property Consultants Coordination Forum said according to portfolio.hu.

New contracts accounted for just 17% of take-up, while extensions made up 54%.

The vacancy rate on the market stood at 3.5%, down 0.5 of a percentage point from the previous quarter but 0.2 of a percentage point higher than in the same period a year earlier.

There was 2.567 million sqm of modern industrial and logistics space in Budapest at the end of the quarter.

Two new properties with a combined area of 14,200 sqm, East Gate Business Park Fót and Login Business Park Dunakeszi, were handed over during the period.

The forum's members are CBRE, Colliers International, Cushman and Wakefield, ESTON International, JLL, and Robertson Hungary.

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