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Hotels and offices seeing rapid expansion

There are currently 24 hotels being built in the capital, mostly in the historic downtown, while office building construction is concentrated in the outer districts of Váci utca, South Buda, Könyves Kálmán körút (boulevard), and Hungária körút, writes Népszava.

Of the hotels in the capital, 18 are expected be completed this year, representing 2,150 new rooms.

Some 32 new hotels will be built nationwide and the total domestic hotel capacity is planned to be increased by 3,750 rooms by the end of 2022.

Currently, 574,000 square meters of office space is under construction nationwide, a quarter more than last year.

The capital’s modern office space is set to expand by 264,000 square meters this year, and could reach four million square meters early next year, according to CBRE real estate consultancy.