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.


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