Budapest Office Figures Q2 2024

In Q2 2024, new office completions reached 51,800 sq m, bringing the annual volume to 78,300 sq m (+22% y/y).

In the second quarter of 2024, the total leasing activity (TLA) reached 143,400 sq m, an increase of 20% compared to the same period last year.

The pipeline shows 102,000 sq m for 2025, 256,000 sq m for 2026 and 85,000 sq m for 2027. In addition, there are ca. 213,000 sq m of planned projects that haven't yet started construction.

The average asking rent for vacant space remained stable (q/q) 14.6 EUR/ sq m pm as of June 2024, up by 2% y/y.