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Office space vacancy rate could fall to 16% by year-end

The vacancy rate on Hungary's office space market could fall from 20.6% at present as far as 16% by year-end, according to real estate consultancy King Sturge. 

Other real estate consultancies put the vacancy rate at present as high as 25%, but all agree that the rate will fall in 2011, and developments could start again as soon as next year, King Sturge said. Office rents are unlikely to rise until the vacancy rate falls under 10%, it added.
Vacancy on the logistics property market is 19.5% at present but could also fall as far as 16% by the end of the year, according to King Sturge.
Hungary's property investment market was worth about EUR 340 million in 2010. (Econews)