Take-Up on Budapest Industrial Property Market Climbs 10% in Q2
- 25 Jul 2023 1:52 PM
- Hungary Matters
Take-up on the industrial property market in and around Budapest reached 124,770sqm in the second quarter, rising 10% from the same period a year earlier, the Budapest Property Consultants Coordination Forum (BIEF) has said.
New leases accounted for 21% of take-up, while renewals made up 36%. Pre-leases accounted for 41% of the total.
The vacancy rate on the market stood at 8.6%, up 2.7 percentage points from the previous quarter and 2.2 percentage points higher than in the same period a year earlier.
There were 3,306,740sqm of modern industrial and logistics space in Budapest at the end of the quarter.
Six new properties with a combined area of 65,580sqm were handed over during the period.
BIEF’s members are CBRE, Colliers, Cushman and Wakefield, ESTON International, iO Partners and Robertson Hungary.
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