ARTICLES LABELLED WITH TAG Hungary

Total demand on the Budapest office market reached 86,310 sqm in Q4 2020, representing a 57% decrease year-on-year. The vacancy rate has increased to 9.1%, representing an increase of 1.0 p.p. quarter-on-quarter, according to BRF’s latest figures.

Total leasing activity throughout 2020 on the Budapest industrial/logistics market amounted to 537,900 sqm, marking a 29% increase from the previous year and the second-highest annual volume on record. The Budapest Research Forum published its quarterly industrial/logistics market analysis.

Wing completed the development of the revitalised Gizella Loft office building, in the heart of Zugló, in fall 2020. The building offers 8,500 sqm of office space. Its redevelopment has transformed it into a Class A, people-oriented and cost-efficient space ready to welcome future tenants. The main tenant which had already occupied the building, TÜV Rheinland Intercert Kft., committed itself to the Gizella Loft in 2019, and in September 2020 took occupancy of the space designed according to its needs.

M7 Real Estate has acquired a modern, multi-tenanted office property in Budapest, Hungary, for €12.35 million. The company has also agreed a €56.7 million loan facility on a five-year term for the Fund with Erste Group, one of the largest financial services providers in Central and Eastern Europe, establishing a new banking relationship in the region.

In response to growing demand for logistics space on the domestic market, ConvergenCE has prepared a ready-made product in Tárnok, Hungary where the construction of an 8,000 sqm logistics hall can be started immediately.

Mark E. Rose, Chair and CEO of Avison Young announced a strategic affiliation with real estate advisory and asset management group Limehouse, which will now operate its advisory services in Hungary under the Avison Young brand, while carrying on its asset management activity in parallel as Limehouse Partners.

10,354 residential property deals were closed in Hungary in December 2020, according to the latest monthly transaction estimate by real estate group Duna House. This marks a 2% growth over December 2019. 131,460 transactions were closed in total last year, marking a 12% year-on-year decline.

Paweł Sapek, Senior Vice President, Regional Head CE & Country Manager of Prologis talked to Property Forum about the state of the warehouse market, the changing expectations and demands of tenants and new challenges for the nearest future. 

Belgian real estate developer Atenor entrusted the Budapest History Museum with the archaeological excavation of the plot of 68-84 Bécsi Road in Óbuda, on which it is implementing one of its latest projects, the 15,000 sqm RoseVille office building. The archaeological research carried out on the plot is significant as it was finally possible to examine the large, connected area of the Roman time cemetery of the military town of Aquincum.

Developed by Wing, the brand-new headquarters building of evosoft Hungary Kft., a Siemens subsidiary, was completed on time and tailored fully to the tenant’s needs. Located at the Buda end of the Rákóczi Bridge, the 22,000 sqm complex was completed as part of the second phase of the Hungarian Nobel Prize Winners R&D Park. The building, home to a six-storey research and development facility, is equipped with cutting-edge technology and meets Gold-level environmental friendliness and energy efficiency LEED certification criteria. Evosoft is expected to begin moving into the building in December 2020.