Budapest City Report
Download information about the Hungarian real estate market, JLL’s report covers key in the investment, office, retail and industrial market in Budapest.
Investment activity reached just above €350 million in Q4 2019, bringing the annual volume to around €1.7billion. This volume is roughly in line with the 2018 volume.
In the office market in Q4 2019, two new completions have been delivered to the Budapest office market. The modern office stock now stands at 3.7 million sq m. Prime rent remained unchanged in the previous quarter at 25.00 €/sq m/month.
Regarding Industrial market, the average transaction size was 4,900 sq m. Currently there’s ca. 190,000 sq m industrial space under construction and due in 2020. Out of this amount ca. 30% is already pre-let.
The positive and robust macroeconomic fundamentals keep on boosting the retail market in Hungary. retail sales growth in 2019 reached ca. 7% and the growth rate is forecast to remain one of the strongest in Europe throughout 2020 as well. The expansion of the retail stock remains prevented by the “plaza ban” law.