Budapest City Report Q2 2019

Hungarian investment volumes are constrained by the lack of products, prime yields are under pressure as supply is very limited in every asset class. Activity during the first half of 2019 has been the lowest half-yearly volume for the past 4 years.

Regarding office market, in Q2 2019 two new office buildings were completed in Budapest, the H1 net take-up volume is the highest since 2015 for a first half. The majority of the demand was generated by new transactions, expansions, or pre-leases.

In the retail market shopping centres are concentrating on improving the entertainment and F&B component as customers are looking for higher quality food and a better experience.

In the industrial market BTS projects are more favored by developers than speculative developments. There was no completions in Q2 and tenants are taking over vacant premises, resulting in a record low level of vacancy rate, which makes it more and more difficult for tenants to find immediately available space.

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