Never seen records in Budapest Office Market in 2018
JLL gives you a glimpse of what records the Hungarian office market reached in 2018
The office market of Budapest reached new records in 2018. While the total office stock's size rose to almost 3.63 million sq m, the decrease of the vacancy rate continued and currently sits at 7.29%, a 21 bps decrease y-o-y. All-time high volume was registered in net take-up, and the highest number was recorded in the volume of total completions since 2009.
Regarding the size of the deals, 2018 was dominated by pre-lease agreements, as three of the five biggest contracts were signed in buildings currently under construction. Out of these pre-lease agreements of over 10,000 sq m, two tenants were represented by JLL.