JLL is again in the forefront in the office market

In the first half of 2018 JLL Hungary has participated in nearly 38,000 sqm of office leasing transactions, including the largest tenant representation deal of the half-year. Thus, the company maintained its position among the three leading market players

July 12, 2018

The Budapest office market has closed a very strong first half of 2018, during the second quarter the registered leasing activity almost reached the total transaction volume of H1 2017. The outstanding demand resulted in a strong competition for commercial real estate agencies. Out of the total volume of leasing activity of nearly 170,000 sq m JLL generated 22%, due to this result the firm managed to maintain its position among the most successful advisors in the Budapest office market.

As a result, JLL belongs not only to the first three market players but it has also tripled its volume of transactions with nearly 38,000 sq m of leased office space compared to the corresponding period of last year. All of this consisted of 15 transactions and the clientele was primarily made up of locally acquired mandates.

Tenant representation services of the agency continuously keeps its market leader position, JLL is closed the largest tenant representation deal of the half-year, evosoft's 20,000 sq m pre-lease agreement for their HQ project in Buda South; further in the first half of 2018 JLL registered one-third of the total tenant representation deals.

JLL's landlord representation, Office Group has also closed a successful half-year, with a transaction volume of 17% of the total leasing activity of the market.  This year is expected to be a very successful one for the department, by the end of the year about 30,000 sq m will be signed with the participation of JLL' colleagues.

Ferenc Furulyás, JLL's managing director concluded: „I'm delighted that our Budapest office has also succeeded in achieving JLL's global objective: to belong to the top three players in every market. On the basis of the half-year results of Office Group we can conclude that the strategic management of the new head of leasing, Peter Würsching has been successfull, JLL has strengthened its position in the office market. Good network and developers' confidence are essential for these successes. Our experienced colleagues play a key role in developing these relationships; we could close the first half of the year with such an excellent result thanks to the professional work of the head of the team, Peter Würsching and his senior consultants, Maria Starmann, Krisztina Major-Deak and Laszlo Fülöp."