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Record warehouse demand in Budapest

Rafał Ostrowski 06 November 2017

Rafał Ostrowski


+48 22 356 25 11

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

Record warehouse demand in Budapest

HUNGARY In the first half of the year 285,000 sqm was leased on the Budapest industrial market, which is the highest half-yearly result ever recorded, according to the latest report by Eston.

The volume of transactions was up by 75,000 sqm compared to last year, which was already a record year in terms of demand. The share of lease renegotiations decreased slightly compared to last year (from 70 pct to 65 pct), while the share of new deals increased. The three biggest transactions involved the renegotiations of earlier transactions and included a renewal by Blik for 95,000 sqm. The most significant new contract was signed in Prologis Park Budapest Harbor, while the biggest prelease agreement was closed in the project of CTP Biatorbágy (13,640 sqm and 10,000 sqm respectively). Net market absorption exceeded 100,000 sqm in the first six months, which is twice as much as the new area handed over in the given period. The vacancy rate sood at 5.5 pct, 4 pp down on the middle of 2016, and app. 2 pp down compared to the end of the last year. ). Rents stood at EUR 3.3-3.7 per month.

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