Industrial real estate report is upbeat
With the completion of ProLogis Park Budapest-Sziget (pictured), the size of industrial real estate stock in Budapest and Pest County grew by 7,500 sqm in the fourth quarter of 2014, reaching a total of 1,855,585 sqm, the Budapest Research Forum (BRF) announced in a report released today.
There was good demand for leasing industrial space in Q4 2014, according to (BRF), which comprises CBRE, Colliers International, Cushman & Wakefield, DTZ, Eston International, JLL and Robertson Hungary.
“The total volume of lease transactions reached 128,465 sqm which is 2 times higher q-o-q and is identical to the take up level registered in Q4 2013. The annual demand increased also significantly, a 55% y-o-y growth was registered with a total amount of 386,625 sqm,” the report said. “Due to the high level of demand, the vacancy rate showed an outstandingly strong decrease, currently it stands at 15.7% representing a decrease of 2.9 percentage points q-o-q and 5.5 percentage points y-o-y.”
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