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Take-up on Budapest industrial property market climbs almost 50% in Q4

Take-up on Budapest’s industrial property market rose almost 50% in Q4 of last year from the previous quarter and was nearly double the rate in the same period a year earlier, the Budapest Property Consultants Coordination Forum (BIEF) told MTI on Friday.

Leases were signed for 100,891sqm of industrial property in the capital in Q4. For the full year, take-up came to 329,100sqm, up 57% from 2010. In spite of the increase, overall leased industrial space fell 23,900sqm during the year.

There were 1.8sqm of modern industrial space in and around the capital at the end of 2011.

Vacancy edged down 1.5 percentage points to 20.9%.

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