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Litwiniuk turns to Hungary

Opr./edited AZ 17 December 2019
Litwiniuk turns to Hungary
Agora is the biggest office project in Budapest

HUNGARY Polish real estate consultancy Litwiniuk Property has entered the Hungarian office sector.

It will provide clients with services related to leasing, commercialisation and sales of commercial real estate. The company currently represents several Hungarian and international companies in the process of selecting new office locations in Budapest.

“The largest new office complex in Budapest is currently Agora with 130,000 sqm. The first stage will have 68,500 sqm. More than 8,000 sqm of flexible office and coworking space will be created in the first stage and the total number of parking spaces will exceed 2,000. The developer of the office complex is HB Reavis,” points out Patryk Litwiniuk, the general director of Litwiniuk Property.

According to the Budapest Research Forum’s data the amount of office space in the city has now reached around 3.5 mln sqm, while the vacancy rate has dropped to around 7 pct. The total demand in Q1 2019 came to 79,900 sqm, which is a 12.2 pct decrease on the previous year. According to the BRF, new lease contracts constituted 45 pct of the total while renewals made up 36 pct.

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