Office vacancies in Budapest rise to 9.7% in Q2

Industrial

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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.

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