In recent years the South-Buda office market has become the fastest growing office market in Budapest, CBRE says, adding that it has also been the most demanded submarket for years due its booming residential market, improving public transport and excellent accessibility both from the city center and from the agglomeration.
At the end of last year, only 4% of the offices were vacant in the market, which is less than half of the already low average Budapest vacancy rate (9.5%). The area will remain in the focus of real estate developers in coming years as well, with an increasing permanent population and growing number of businesses expected in the district, CBRE expects.
One of the latest development in the area, the Alphagon office building also provides convenience and technical services for tenants, such as 24-hour reception desk, video surveillance, air conditioning, anti-static carpets, data and telecommunications network connection, fast elevators and indoor parking secured by a card-system, according to CBRE.
At the corner of Dombóvári út and Nádor utca the same developer, Bischoff & Compagnons, is about to start construction of what it calls a human-scale office building, with average floor space areas of 860 sqm, down to as little as 250 sqm. It is due to be ready by Q2 2019, only a few minutes’ walk from metro line 4, tramway Number 1 and Numbers 4-6.
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