Office vacancies in Budapest rise to 9.7% in Q2

Industrial

pixabay

The rate of office space vacancy in the Budapest market increased by 1.1 percentage points to 9.7% in Q2 of this year, compared to the same period last year, the Budapest Property Consultants Coordination Forum (BIEF) said today, according to Hungarian news agency MTI.

Currently, there are 182,650 sqm of vacant office space, but only four buildings contain more than 10,000 sqm of vacant area, MTI said.

Take-up in Q2 was 92,100 sqm, approximately 22% less than in Q1 of 2016, and 13% less than in the same period a year ago, MTI said.

BIEF data covers about 90% of the Budapest office property market, and its members include CB Richard Ellis, Colliers International, Cushman and Wakefield, Eston International, Robertson Hungary and Jones Lang LaSalle, MTI reported.

ADVERTISEMENT

Chemark Inaugurates EUR 13 mln Pesticides Plant Crops

Chemark Inaugurates EUR 13 mln Pesticides Plant

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Higher Sugar Prices Raising Holiday Candy Costs Retail

Higher Sugar Prices Raising Holiday Candy Costs

Hungarian Tourism in Croatia Returning to Pre-pandemic Level... Tourism

Hungarian Tourism in Croatia Returning to Pre-pandemic Level...

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.