Are you sure?

Office-space vacancy rate rises to 21.9% in Hungary last year

Hungary's office-space vacancy rate rose to 21.9% in 2009 from 13% in 2008, the ABLON Group property-development company said.

Hungary's office-space vacancy rate was the highest among the four countries that the ABLON Group examined, followed by 16% in Romania, 11.6% in the Czech Republic and 7.3% in Poland.

Monthly office-space rental fees have fallen 17% in Hungary to €10-€14 per square meter since the beginning of the global economic crisis, compared to declines of 26% to €21-€22 per square meter in Poland, 24% to €18-€20 per square meter in Romania and 9% to €19.5-€20.5 per square meter in the Czech Republic.

ABLON predicted that Hungary's office-rental market would begin to grow substantially again only in 2012. (MTI – Econews)