Take-up on Budapest Logistics Property Market Falls 7% in Q4

Logistics

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Take-up on the logistics property market in and around Budapest fell 7% year-on-year to 222,700 sqm in the fourth quarter, the Budapest Property Consultants Coordination Forum (Bief) said on Thursday, according to a report by state news wire MTI.

The vacancy rate on the market stood at 3.8%, one percentage point under the rate in Q3, but 65 bp over the rate in the same quarter a year earlier.

There were 3,137,000 sqm of modern industrial and logistics space in Budapest and its environs at the end of 2022. A combined area of 333,200 sqm was handed over during the year.

Bief's members are CBRE, Colliers, Cushman and Wakefield, Eston International, JLL, and Robertson Hungary.

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