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Hungary : Office Snapshot - Q3 2013

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Hungary : Office Snapshot - Q3 2013

In Q3, the Hungarian office market appeared to begin laying the foundations of a recovery. Budapest saw good levels of occupational activity over the quarter totalling at just under 100,000 sq.m, which has further eroded the vacancy rate to currently stand at its four year low. Nevertheless, many tenants remain cost sensitive and when making location decisions require flexibility in their leases in order to ensure business continuity. Underpinned by large incentive packages headline rents have not changed in the three months to September.

Source : Cushman & Wakefield

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