JLL's latest Q4 2020 report of commercial real estate trends in the Hungarian capital, Budapest, covering key data in the investment, office, retail and industrial market.
February 08, 2021
The Budapest investment market remained active throughout 2020, although volumes dropped ca. 26% y-o-y. Office market statistics continued to reflect the economic changes triggered by the Covid-19 pandemic, as the demand volume lagged behind the norm of previous years and the number of transactions declined. We have seen a significant increase in contract reviews. The retail sector - including hotels and hospitality - is being under the greatest threat of the Covid pandemic and its potential aftermath. Retail chain expansion strategies have been modified; the focus is on optimization. Regarding industrial real estate performance, Q4 2020 statistics did not reflect the current economic restrictions. At the end of the year there was only one existing building with more than 5,000 sq m of available warehouse space.
You can read more about each sector's performance in our report, request it below!