Vacancy rate drops in Budapest on high demand
Greater Budapest has seen vacancy rates drop by 11% over the past two years due to strong tenant demand and a complete lack of new speculative developments, research by CBRE reveals today. The sudden expansion of investments and production has led to significant developments in the Hungarian industrial real estate market, CBRE said.
IDI Gazeley appointed CBRE last year to manage a portfolio of 39 logistics and warehouse assets spanning six countries across Europe covering a combined area of 850,334 sqm, according to a press release issued today.
One of the most valuable assets within the Hungarian portfolio is M0 Central Business Park, located directly on the M0 ring road, CBRE says, which is among the most successful logistics hubs in the Greater Budapest area. The M0 Business Park offers different size rental units between 750 sqm and 4,600 sqm and the units are ideal for assembly halls, warehousing, and logistics services, the press statement noted.
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