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Vacancy on Budapest's B-category real-estate market 35%, seen to drop

Vacancy on Budapest's 1.3-million-square-meter B-category real-estate market is currently 35%, Indotek Group sales director Tamás Sellyey said.

Sellyey predicted that vacancy could decline to 25% next year on the city's B-category real-estate market, three-quarters of which consists of warehouses and one-quarter of which consists of office space.

B-category rental fees have fallen about 30% in Budapest as a result of the economic crisis, the Intotek sales director said.

SMEs rent about 70% of the B-category real-estate in Budapest, Sellyey noted.

Indotek holds about half of the properties in the segment. (MTI – Econews)