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Vacancy rate on Budapest office space market falls to almost 14%

Office Market

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The vacancy rate on Budapestʼs office space market fell 3.4 percentage points to 14.2% in the second quarter from the same period a year earlier, the Budapest Property Consultants Coordination Forum (BIEF) said yesterday. 

The rate was lowest, at 8.8%, in the south of the Buda side of the capital. The rate was 16.3% along Váci út, one of the capitalʼs main traffic arteries. Take-up in the second quarter was 213,500 sqm, more than three times higher than the previous quarter.

There are 3,250,000sqm of A- and B-category office property on the market in Budapest. BIEFʼs members are CB Richard Ellis, Colliers International, Cushman and Wakefield, DTZ, Eston International, Robertson Hungary and Jones Lang LaSalle.

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