The vacancy rate on the Budapest industrial market declined 2 percentage points to a level below 10%. The Budapest Research Forum has published its Q1 2016 industrial market snapshot.
The vacancy rate declined 2 percentage points q-o-q reaching a level below 10%, bottoming out at 8.6% at the end of Q1 2016. In total 162,010 sq m is currently vacant with only three schemes offering available space over 10,000 sq m. Net absorption volume totalled 22,600 sq m in Q1 2016, it is almost in line with last year’s quarterly average.
The Budapest Research Forum (BRF) comprises of CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary. BRF analyses modern industrial properties located in Budapest and Pest County, completed after 1995 for letting purposes, comprising a minimum of 2,000 sq m space in terms of city-logistics or minimum of 5,000 sq m space in terms of logistics park warehouses. The industrial stock excludes owner occupied buildings.
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