The office vacancy rate has decreased to 7.3%, representing a 0.2 pps reduction quarter-on-quarter - the lowest rate ever recorded on Budapest office market. The Budapest Research Forum published its latest figures.

Companies have rented almost 70,000 square meters of office space in Bucharest in Q1 2018, according to JLL. One-third of the demand came from companies that formerly had their headquarters in old, small buildings or in other different from modern buildings (non-competitive stock). This segment of demand increased compared to last year when it accounted for only 7% of the total take-up.

Futureal Group has started the construction of the second phase of its Advance Tower office building located at the Váci office corridor in Budapest, Hungary. The expansion of the office complex will offer an additional 8,000 square meters of GLA. Advance Tower’s second phase receiving the international WELL Building Platinum Precertification is expected to be handed over in the second half of 2019.

Yareal has received the building permit to construct the first stage of the 65,000 sqm LIXA office complex. Yareal’s biggest office investment ever will co-create the business centre at Warsaw’s Daszyński roundabout.

According to “Occupier Economics: Office Market in Łódź in 2017”, the latest report produced by Cresa, last year’s absorption rate for office buildings in Łódź hit a record high of 55,500 sqm. With office stock at 437,770 sqm, Łódź is Poland’s sixth largest regional office market. The city’s vacancy rate currently stands at 9.3% (up by 3.1 p.p. year-on-year).

S Immo Hungary, owner of River Estates office building located at the junction of Váci road and Dózsa György road, co-exclusively assigned JLL and Robertson Hungary real estate agencies to lease 9,200 square meters of quality office space.

Optim Project Management has assisted NEPI Rockcastle throughout the entire BREEAM certification process for the landmark office project, Aviatorilor 8. The building achieved an ‘Excellent’ level of certification under the BREEAM International 2013 rating scheme.

Vastint Romania was awarded LEED Platinum certification for the first two office buildings of Timpuri Noi Square. The 32,000 sqm office space in the two buildings will soon be completely leased.

Łódź is busy readying itself for an influx of new companies. The city is investing in its road and transport infrastructure as well as revitalizing some of the city's quarters. As a result, Łódź is attracting more investors.These include companies from the rapidly expanding business services sector which are fuelling the expansion of Łódź's office market. New office clusters are being developed throughout the city. In 2018, the city will gain another 45,000 sqm of modern space. However, the business services sector is not the only sector that is powering the city’s economy, according to JLL.

A new Class A office building in downtown Budapest was inaugurated on this week. The building under Markó Street 9, originally used as an electrical transformer house, has now received a new identity. The 2,630 sqm floor area of the five-storey building – two of which come with a loft – is tailored primarily to meet requirements of creative workshops, start-up companies and other undertaking taking an up-to-date approach in general.