Market Report – Modern offices 2017

In 2017 about 80 thousand sq. m new office area was handed over; this figure is smaller than that of last year or the one previously expected. More than half of the newly delivered office area (42.5 thousand sq. m) can be found in the South Buda region, where new office buildings have been built for the first time since 2010.

The biggest new building is the Hungarian Nobel Prize winners’ Park I (24000 m² in South Buda), where Ericsson is located.

The building of further 410 thousand sq. m new offices has begun; out which about 265 thousand sq. m could be handed over in 2018 (in 15 buildings). The office stock of Váci Corridor will almost reach one million sq. m by the end of 2019; this is a sought-after area, which is shown by the fact that the current occupancy rate of the offices is not worse (41% on average) than the market average despite the concentrated developer’s activity.

Please, click the title for the full report.