Total demand on the Budapest industrial property market amounted to 212,750 sqm in Q2 2017, which is the highest quarterly volume ever on record. The Budapest Research Forum published its quarterly industrial market analysis.
In the second quarter of 2017 two buildings were added to the industrial stock with a total size of 20,380 sqm. BILK Logistics Park was expanded by a new 8,790 sqm warehouse, whereas BRF added an 11,590 sqm warehouse to the Greater Budapest industrial stock, which was recently bought by M7 Real Estate. The modern industrial stock in Budapest and its surroundings stands at 1,953,790 sqm at the end of Q2 2017.
98.5% of the leasing activity was recorded in logistics parks where the average deal size was 11,030 sqm. The average deal size in city logistics schemes equated to 631 sqm.
The largest transaction of the quarter was a renewal on 95,000 sqm in BILK in addition to which a 5,730 sqm pre-lease agreement was concluded by the same occupier. The largest new lease was signed in Prologis Park Budapest – Harbor Park on 13,640 sqm.
Net absorption remained positive in Q2 2017 and amounted 27,300 sqm.
