The vacancy rate has climbed again in the second quarter on Budapest's struggling office market, reaching 12.6% after 12.2% in the previous quarter. Total demand reached 119,890 sqm in Q2 2023, which is 56% higher than the value registered in the previous quarter, the Budapest Research Forum reports.

The Infinity office building at ul. Legnicka 16 in Wrocław, near pl. Jana Pawła II, has received its final occupancy permit, which means that soon the complex offering almost 22,000 sqm of leasable area will welcome its first tenants. 

The current results of the Polish investment market may not appear very optimistic at the moment, but this is only a temporary situation. The Polish real estate market has a solid foundation, and investors have proven to be highly adaptable, as evidenced by the results achieved in previous challenging years, reveals Avison Young's investment market summary for H1 2023, prepared by Research and Data Manager Paulina Brzeszkiewicz-Kuczyńska.

When choosing an office, the location is crucial, the costs related to maintaining workplaces are becoming increasingly important for companies, while ESG-related matters are of little importance to them - these are the main conclusions of the latest survey conducted by Walter Herz among the tenants of office space in Warsaw.

Sofia's office market faces shifting demand and moderating construction, according to a report by the real estate company MBL for the second quarter of 2023. Changing work patterns and preferences for hybrid models have raised concerns about the future demand for office space. The capital's vacancy rates decreased slightly, while rental rates remained stable. Investors are approaching the market with caution due to inflation and remote work practices. Despite the moderate activity, there is a potential for modern, well-located office spaces to attract higher occupancy and investment interest.

Tatra Asset Management, the largest mutual fund manager in Slovakia, and real estate company Alto Real Estate are joining together in their ventures focused on leasing office space, reports reality.trend.sk.

According to the new report published by Newmark Polska, key themes defining the Warsaw office market in the first half of 2023 included waiting for new office completions and adjusting occupied space to widely popular hybrid working models. Despite new supply constraints and relatively muted development activity, the city’s vacancy rate edged down marginally in the second quarter of this year. Leasing activity reached a similar level to that of the first three months of 2023.

Office leasing in Bucharest totaled 128,915 sqm in the second quarter of 2023, up 48% compared to the same period of last year, driven by large deals closed by retail, financial and technology firms, according to a report by Fortim Trusted Advisors, a member of BNP Paribas Real Estate Alliance. 

The investment transaction activity in Romania recorded total volumes of close to €170 million in the first half of 2023, which is down by around 50% compared to the same period, but the transactions could reach around €700 million by the end of 2023, according to Colliers data. 

Immofinanz has announced the sale of the Twin Towers on Wienerbergstrasse in Vienna to S Immo.