Report: Renting office space in Budapest is difficult
Image by Pixabay
It is difficult to rent an office space over 1,000 sqm in the Pest area of Budapest, as only three of the 39 office buildings currently on the market have large office spaces on offer, DTZ and CA Immo said today in a joint press release.
The vacancy rate in the office building market has been on the decline in recent years; currently 17.7% of offices on the market were on offer at the end of the second quarter, amounting to a total of 2,789,300 sqm of space in Budapest. This figure is substantially lower for the city center area of Pest, where there is only 45,000 sqm of space.
“The amount of empty office spaces in relation to all office space in the center of Pest is even lower than the overall market average, representing 15% of all vacancies. Out of this, only three office buildings offer big office spaces to rent; one of them is R70 Office Complex office building,” Éanna Maksay, analyst at DTZ, said.
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.