ADVERTISEMENT

CBRE: South Buda micro-market reaches lowest vacancy rate in the capital

Office Market

The Lágymányos micro-market located in the north western part of South Buda reached a 1.7% vacancy rate in Q1 2016, the lowest in Budapest, according to a press release issued today by CBRE, the company acting as the exclusive leasing agent for the district’s Science Park office building.

(Photo: Wikimedia Commons/Norbert Aepli)

The Lágymányos micro market has become one of the busiest office hubs in the capital in the past fifteen years, with approximately 200,000 sqm of modern office space, according to CBRE. The popularity of South Buda has grown substantially among corporate tenants with consistent take-up in the Lágymányos micro-market in particular among IT and telecom firms, the press release said.

The 31,000 sqm Science Park, is a pioneering building in this micro-market and one of the most successful counting among its tenants Ericsson, TATA and most recently Evosoft. “The owner of Science Park, the Heitman Fund is launching major refurbishments to the building in the next period so that it may continue to be an iconic office building,” said Judit Varga MRICS, head of Office Agency at CBRE.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.