Is Budapest more attractive than London?

London West End still remains the most expensive market, a workstation’s annual fee is USD 29 000. It’s nearly a third more than the second place, New York, annual analysis of the international property consultant DTZ, Global Office Thermometer wrote. Budapest is at the forefront of the favorable markets, a workplace at us costs the seventh of one in London, tozsdeforum.hu said.

The publication says the renters are in a privileged position due to the significant decreases of the rental office market. The highest rate of decline was in Asia, the annual cost of a workplace decreased by a total of 8.3%, it is followed by Europe (7.8%). In contrast, the cost increased by 4.8% in North America.

The highest degree of change was in Moscow, where the costs decreased by one-third. The charges dropped in other Central and Eastern European cities too, there was a 25% decline in Bucharest, 20% in Prague and Bratislava. The costs remained at a stable level in Budapest, which are still low in a regional comparison in relation to Warsaw and Prague. In Budapest, the annual lease and operating cost of a workstation is  around USD 3000 in a modern, centrally-located office.

London West End is expected to remain the highest-priced market in the world. Renting an office in one of the most influential financial markets has prestige what is paid with higher prices by the renters, tozsdeforum.hu said.

The research emphasizes the pressure on the costs will remain beneficial for the international renters. Annually, only 0.5% growth is expected in the next years.

It’s no longer a novelty if there are no dedicated tables in an office, employees sit in an open space even on a manager level, and the room thus released is utilized differently. Rest areas, public areas, meeting rooms for 2-3 persons, or areas for informal meetings can compensate the lack of an own workstation. Best example of this is the trend in the selection of SSC offices. Previously, the primary concern was the good accessibility, and the office buildings at public transport interchanges were preferred.

Today, the workers are rather attracted and kept with the optimal creating of the interior space and working environment.

During the design, the continuous monitoring, the compliance with deadlines, the coordination of internal and external suppliers is a great responsibility. It is recommended to entrust this responsibility to a suitable professional partner, so the renter can focus on his/her own business, and he/she experiences the moving into a new office as a positive change – Istvan Rezso, Co-Director of DTZ Hungary said.

based on the article of tozsdeforum.hu
translated by BA

Source: http://www.tozsdeforum.hu