Budapest City Report Q3 2019

The year-to-date investment activity by Q3 2019 reached €1.2 billion, 15% below the volume of the same period of 2018. That said, based on the pipeline of transactions we expect the 2019 annual volume to be nearly in line with the 2018 level.

In the office market in Q3 2019, two new completions have been delivered in the Budapest. The modern office stock now stands at 3.67 million sq m. Prime rent remained unchanged in the previous quarter.

Regarding Industrial market, the steadily increasing construction prices of the past years motivated developers to focus on BTS projects rather than speculative developments.

There is a growing confidence in Hungarian customers to use webshops and buy goods online. At the end of 2018, the proportion of Hungarian customers buying online was in line with the EU average at 26% and an additional 8 percent of the Hungarian customers is also planning to purchase goods online in the future.

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