Market report Industrial

Strengthening developers’ activity

Following a negative period between 2011 and 2015 logistical property developments have taken up, owing to the vacancy rate which fell below 10%.

In the first six months of 2016 an area of 22 thousand square meters was handed over, which is four times bigger than the volume last year. New properties, the size of which is nearly 60 thousand square meters are being built, they are expected to be completed before the end of the year, and there is a prelease agreement for almost the half of them.

New industrial and logistical properties – of around 20 thousand square meters – are planned to be handed over by 2017, but considering the short completion time of logistical halls this figure may rise considerably.

Developers are more and more willing to start investments on a (partly) speculative basis. The new developments are taking place mainly in the southern agglomeration of Budapest.

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