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Vacancy rate on Budapest office space market falls under 20%

The vacancy rate on Budapest’s office space market has fallen under 20% for the first time in two years, the Budapest Real Estate Consultants Forum (BRF) told MTI.

Take-up in 2011 came to 397,333sqm, 28% more than in 2010, bringing the vacancy rate to 19.2%.

About 87,425sqm of office space was inaugurated in the capital in 2011, 49% less than in 2010.

At year-end, there were 3,158,889sqm of office space in Budapest.