Budapest City Report Q1 2020

2020 started promising in the Hungarian capital market with an increase of more than 60% year-on-year. The most traded asset classes were offices and hotels in the quarter.

In the office market in Q1 2020, two new completions have been delivered to the Budapest office market. As expected, Q1 2020 office market statistics do not yet reflect the current economic restrictions triggered by the COVID-19 pandemic. Total leasing activity was largely in line with the past five years’ Q1 average and based on headline rents in the current availability, there has not been any material rent correction.

The full impact of the outbreak is yet uncertain, but it is clear that the tourism, retail, F&B and leisure sectors will be the most impacted. E-commerce has grown significantly in March, however it has not balanced the offline sales’ loss.

In industrial market the total demand indicates a 5% decrease from Q1 2019 volume and a 10% decrease compared to the previous quarter. Currently there’s ca. 120,000 sq m industrial space under construction and due in 2020.

Fill out this form to download report

I would like to receive communications from JLL.

There was an error submitting the form. Please try again.

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.