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Budapest office vacancy still over 20% in Q2

Leases were signed for 86,000 sqm of office space in Budapest in the second quarter, the Budapest Property Consultants Coordination Forum (BIEF) said on Wednesday.

There are about 2.5 million sqm of rentable 'A' and 'B' category office space in the capital. Another 500,000 sqm is owned by its occupants. The vacancy rate for the entire 3 million sqm was 20.6% in Q2, just under the rate in the previous quarter but a full percentage point down from the peak in Q3 2010.

BIEF's members are CB Richard Ellis, Colliers International, Cushman and Wakefield, DTZ, GVA Robertson, Eston International and Jones Lang LaSalle.