The office market in Budapest is running out of large prime office space

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In 2015, the leasing activity rose to almost 340,000 m², reaching its highest figure over the past six years. The market was boosted by several large deals: 13 lease agreements over 3,000 m² were signed and most of which were pre-let agreements. IT and telecom companies as well as SSC/ BSC (Shared & Business Service Centres) and financial companies were the most active players in the Budapest property market.

The vacancy rate for grade A and B offices continued its downward trend in 2015. The lack of new supply and the record volume of take-up helped to reduce the vacancy rate to 12.1%, the lowest vacancy rate since 2007.

Source : BNP Paribas Real Estate

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