Sharp Take-Up on Budapest Office Property Market - 30% Rise Recorded
- 22 Jan 2025 9:56 AM
Take-up on the Budapest office property market reached 170,630sqm in the fourth quarter, rising 30pc from the same period a year earlier, a report released by the Budapest Research Forum (BRF) shows.
New leases accounted for 18pc of take-up, while renewals made up 76pc. Expansions accounted for 4pc of total demand.
The vacancy rate on the market stood at 14.1pc, up 0.1pp from the previous quarter and 0.8pp higher than in the same period a year earlier.
There were 4,455,615sqm of modern office space in Budapest in Q4. One new property with an area of 2,150sqm was completed during the period.
BRF's members are CBRE, Colliers, Cushman and Wakefield, ESTON International, iO Partners and Robertson Hungary.
Source:
MTI - The Hungarian News Agency, founded in 1881.
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