Budapest Research Forum joint Q3 data


The third quarter of 2006 showed 20% less leasing activity compared to the previous quarter, with 59,400 square meter of take-up.

However, this number comes close to the Q3 figure one year ago (62,000 square meter). Over 90 lease agreements were signed, from which more than 67 were new transactions and moves while the rest were expansions, extensions and renewals. The major ones include Magyar Cetelem’s 3,550 square meter extension and expansion in Margit House, EDS’ lease renewal and expansion of 3,445 square meter in the Metrotech Building, Wallis Ingatlan Zrt’s move to 1,700 square meter in Máriássy Ház and the newly built Gregersen Palace’s exclusive tenant, Tempus Közalapítvány in its 1,675 square meter. The majority, 63%, of the space let in the third quarter is located in the Non-Central and 26% in the Central submarkets.

Q3 brought low development activity, as two buildings were completed, Kinnarps Office Building (7,500 square meter) in the Central and Gregersen Palace (1,675 square meter) in the Non-Central submarkets, however both are fully let. These two new developments, plus the Andrássy 70 building that was sold to Orco Property Group, increased the total stock to 1,668,449 square meters. Vacancy rate dropped slightly by 1.15 percentage points to 12.41% by the end of September. This fall resulted from the low number of new completions that came to the stock fully leased and the stagnant high office occupation.

Hungary Crude Supply Secured With 'Temporary Solutions' Energy Trade

Hungary Crude Supply Secured With 'Temporary Solutions'

Hungary to Host Next EPC Summit Int’l Relations

Hungary to Host Next EPC Summit

New Tenants at Academia Offices Office Market

New Tenants at Academia Offices

Visitor Numbers, Guest Nights Climb in H1 Tourism

Visitor Numbers, Guest Nights Climb in H1


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.