Nearly 100,000 sqm of new office space was delivered to the Budapest market in 2016, the highest figure since 2010. Meanwhile, demand picked up in the last quarter of the year with a large share of the total leasing volume made up of pre-leases and new transactions. At the same time, the office vacancy rate has returned to its downward trajectory, reaching 9.5%, the lowest rate on record.
In Q4 2016 total leasing activity amounted to 133,460 sqm on the Budapest industrial market which marks a 64% rise on a yearly basis. Meanwhile, the vacancy rate reached a new post-crisis low at 8.1% and there is currently no scheme offering more than 10,000 sqm available adjacent space. The Budapest Research Forum published its quarterly industrial market analysis.
Total leasing activity amounted to 84,600 sqm on the Budapest industrial market in Q3 2016, which marks a 9% decrease on the previous quarter and a 37% ascent on a yearly basis. The Budapest Research Forum has published its quarterly industrial market analysis.
The vacancy rate has increased for the first time in two years on the Budapest office market in Q3 2016. Still, net absorption reached a positive volume, reflecting a healthy market environment. The Budapest Research Forum has published its quarterly office market analysis.
Vacancy rates reached a record low level on the Budapest office market as a result of modest development activity and strong demand from tenants. The Budapest Research Forum has published its quarterly office market analysis.
Renewals dominated the Budapest industrial property market in the second three months of the year where the vacancy rate has increased for the first time in nearly three years. The Budapest Research Forum has published its Q2 2016 industrial market snapshot.
Vacancy rates have further declined on the Budapest office market as a result of modest development activity and strong demand from tenants. The Budapest Research Forum has published its quarterly office market analysis.
Online grocer Barbora has leased around 3,000 sqm in the Park City Logistics Katowice I logistics park.
Reka Rubber Polska, a manufacturer of rubber products has leased almost 2,000 sqm of warehouse space in MLP Poznań West. Rock Estate agency helped to negotiate the deal.
International design studio Buro Happold has extended its lease in the central-Warsaw Spektrum Tower building owned by Globalworth. The company occupies 1,300 sqm of office space.
Globalworth announces that Andreas Papadopoulos, Chief Financial Officer, has informed the Board that he wishes to resign from his role but that he will stay on for an interim period, leaving the company by 30 April 2022.
Máté Bihari has been appointed Director of Leasing and Sales by Horizon Development in Hungary. He joined the Horizon Development team in 2017, where he played an important role in leasing commercial projects.
Nikola Ristivojevic has started a new position as Director of Capital Markets at Coreside Savills in Serbia. He previously worked as Senior Consultant at CBS International, a member of Cushman & Wakefield Alliance.
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