Take-up on Hungary’s industrial property market more than 109,000sqm in Q3

Take-up on Hungary’s industrial property market fell by an annual 10 percent to 109,350 square meters in the third quarter of 2018, the Budapest Property Consultants Coordination Forum (BIEF) said.

Lease renewals accounted for 52 percent of the take-up. New contracts made up 31 percent of the total and expansions 10 percent. A single preliminary lease constituted over 6 percent of take-up.

The vacancy rate on the industrial property market stood at 3.7 percent at the end of Q3.

There were 2,086,120 square meters of industrial property in greater Budapest at the end of the period. The Budapest Dock Free Port, alone some 5,000 square meters, was inaugurated in Q3.

BIEF’s members are CBRE, Colliers International, Cushman and Wakefield, ESTON International, JLL and Robertson Hungary.

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Photo: MTI

Source: MTI