{"id":2957,"date":"2024-04-26T13:39:05","date_gmt":"2024-04-26T13:39:05","guid":{"rendered":"https:\/\/anlimited.net\/?p=2290"},"modified":"2026-02-12T06:03:04","modified_gmt":"2026-02-12T05:03:04","slug":"tovabb-nott-az-uresedesi-rata-az-irodapiacon","status":"publish","type":"post","link":"https:\/\/anlimited.net\/en\/tovabb-nott-az-uresedesi-rata-az-irodapiacon\/","title":{"rendered":"The vacancy rate in the office market has further increased"},"content":{"rendered":"

The Budapest Real Estate Advisors\u2019 Coordinating Forum has released its summary for the first quarter of 2024 regarding the office market. The total modern office stock in Budapest currently stands at 4,377,170 square meters, of which 3,560,590 square meters are \u201eA\u201d and \u201eB\u201d category modern speculative office space, and 816,580 square meters are owner-occupied office buildings. Net demand amounted to 42,270 square meters, representing a 251% increase compared to the first quarter of 2023. The vacancy rate reached 13.81%, with an increase in stock of 26,440 square meters.<\/h4>\n

In the first quarter of 2024, Budapest\u2019s modern office stock grew by two new office buildings, totaling 26,440 square meters. Millennium Gardens South (Phase 2), built for speculative purposes, is located in Pest Central Market, while the Knorr-Bremse R&D center, built for the company\u2019s own use, was completed in South Buda.<\/p>\n

Gross demand in the first quarter of 2024 totaled 94,980 square meters, representing a 24% increase compared to the same period of the previous year. Within total demand, lease renewals accounted for the largest share at 53%. New leases accounted for 36%, expansions accounted for 9%, and the share of purchases for own use reached 2%.<\/p>\n

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Net demand (transactions excluding contract renewals) totaled 42,270 square meters during the same period, representing a 25% increase compared to the first quarter of 2023. The vacancy rate reached 13.8% in the first quarter of 2024. The vacancy rate increased by 0.4 percentage points compared to the previous quarter and by 1.5 percentage points compared to the same period of the previous year.<\/p>\n

In the first quarter of 2024, the lowest vacancy rate was recorded in North Buda (8.41%); meanwhile, the highest rate, which remained unchanged, was in the Greater Budapest Area (33.31%). There was no net absorption (adjusted for size changes) during the first quarter.<\/p>\n

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The highest tenant activity was still recorded in the V\u00e1ci \u00fat office corridor, accounting for 29% of the total volume. Following V\u00e1ci \u00fat, the second-highest activity was recorded in Downtown, where 21% of transactions were concluded. Overall, the Budapest Real Estate Forum registered 153 lease agreements during the first quarter, with an average size of 621 square meters, representing a 27% decrease in average transaction size compared to the previous quarter.<\/p>\n

Five contracts were signed for spaces larger than 3,000 square meters, four of which were renewals and one was a new lease. The largest transactions of the quarter took place in the V\u00e1ci \u00fat office corridor and in Downtown.<\/p>\n

Source: realista.ingatlan.com<\/p>\n

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The Budapest Real Estate Advisors\u2019 Coordinating Forum has released its...<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2957","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/posts\/2957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/comments?post=2957"}],"version-history":[{"count":0,"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/posts\/2957\/revisions"}],"wp:attachment":[{"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/media?parent=2957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/categories?post=2957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anlimited.net\/en\/wp-json\/wp\/v2\/tags?post=2957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}