RERA pegs Budapest office vacancy at 24.9%

RERA, the new agency research grouping in Budapest, has come out with some Q1 vacancy numbers for the office market that just might discourage some developers from jumping into any new spec development. The Vaci ut corridor comes out the best, with only 18.2% of the stock now empty. CBD, on the other hand, is currently at 23.5% thanks to some new buildings coming on line, while the “periphery” sounds haunted with 40% of the space unoccupied. RERA calculates the average vacancy figure to be 24.9%. It reports 54,000 sqm in office deals for the first three months of the year, with Vaci ut and inner-Buda the most popular location. Larger users are tending to opt for lease renewals at the moment, rather than moving to new space.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s