This involves issues regarding the office environment, layout and design, the provision of amenities, and the well-being of staff, with the hope of increased productivity and the retention of employees.
“Being modern and well-located is crucial, but, in order for the office to support the retention and attraction of talent and a higher attendance by employees, successful projects need to prioritize the well-being and user experience of people,” comments Kata Mazsaroff, managing director of Colliers Hungary.
“Beyond the traditional amenities, services with a focus on dining, sports, medical care and platforms to socialize are in the forefront. Technology and the smart solutions of a project add to the user experience, meaning the PM/FM can customize the building’s operation based on the data of the actual users’ habits to enhance sustainable efficiency,” she explains.
Amenities are key to attracting tenants, with features like green spaces, bike storage, electric vehicle charging, and wellness areas such as gyms and relaxation zones becoming standard. Innovative building technologies should optimize energy use and indoor air quality while supporting hybrid work models with collaborative spaces, says Zsombor Barta, founding partner of Greenbors Consulting.
“Location remains crucial: proximity to public transport, mixed-use environments, and access to services improve accessibility and reduce reliance on cars. ESG compliance and access to green financing are increasingly shaping investment decisions, making sustainability certifications like BREEAM or LEED a competitive advantage in the evolving market,” he adds.
Older office buildings are increasingly disadvantaged as tenants prioritize modern, flexible, and sustainable workplaces. However, cost remains a critical factor, especially during periods of economic uncertainty, says Cushman & Wakefield. Budapest faces a significant supply-demand gap as offices less than five years old account for just 17% of the total office stock.
Concerns over costs have led to a near-equal volume of leases in non-refurbished 15-year-old buildings and new modern offices, underscoring the continued relevance of the older stock, despite the shifting preferences. However, demand remains for top-end assets.
“Despite the global trend of hybrid working schemes and the consequentially decreasing space requirements of various companies, the demand for high-quality, well-located, ‘ESG proof,’ sustainable offices remains strong in the Budapest market,” says Bence Sass, deputy CEO for international business development and investment at Wing.
“In the Hungarian office market, integrating ESG and EU taxonomy features in office development projects is increasingly important for attracting tenants, securing financing, and ensuring long-term profitability while properly operating the building in an efficient way,” adds Valter Kalaus, managing partner of Newmark VLK.
“Both ESG and the EU taxonomy emphasize sustainability, resource efficiency, and social responsibility, aligning developments with broader EU climate and social goals. Over time, landlords may need to integrate multiple certifications to align with both investor and tenant expectations, combining energy efficiency, well-being, and smart building standards into a comprehensive ESG strategy,” he adds.
According to Tibor Karsai, managing director of Rustler Hungary, his firm achieves true efficiency by aligning the domains of FM and PM in complete synergy, building the entire real estate management structure, strategy, and organization around this integrated approach. Karsai says that ESG principles are blurring the boundaries between PM and FM.
PM is responsible for defining sustainability and social goals, while FM provides the systems, data, and processes needed to achieve them. PM and FM are, therefore, seen as having distinct areas of focus, but their functions are deeply interconnected. PM represents ownership interests and strategic goals, while FM is responsible for executing those goals on an operational level.
Evolving technologies, shifting workplace trends, and the growing focus on sustainability are influencing the future of the office market. PM is increasingly concerned with project development and ensuring the product meets social and environmental expectations and regulations. The role of FM in the green building pact is to ensure that well-being is an ESG principle in play across the entire life-cycle of a building, incorporating maintenance, sustainability and safety, comments Attila Puskás, executive board member at Frame Group.
Only 3% of the BREEAM-certified office stock in Budapest has reached the highest “Outstanding” level, according to CBRE. Some 10% of the LEED-certified stock has achieved its highest “Platinum” level.
The modern wing of the Academia office in Pest’s District V is one of only five office developments in Budapest to have been awarded WELL Core “Platinum,” the highest level of accreditation from the International WELL Building Institute (IWBI). The other WELL Platinum offices in Budapest have all been developed by Futureal: the Budapest One Business Park phases I, II and III in District XI, and the Corvin Innovation Campus in District VIII.
“Much more emphasis should be placed on building operation planning. Guidelines should be developed to continuously ensure a healthy environment for people and provide immediate support in case of any kind of emergency, not only fire,” says Regina Kurucz, managing director of Rewell Consulting.
“The built environment should be inclusive; we need spaces that support both stimulus-avoidant and stimulus-seeking individuals, offering them the options and choices to work and live in an environment where they can thrive and be most effective. Inclusive spaces are a better environment for all. Inclusive environments offer new business opportunities,” she concludes.
This article was first published in the Budapest Business Journal print issue of May 16, 2025.
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