Budapest Office Figures Q4 2024

In Q4 2024, new office completions totalled 2,150 sq m, raising the annual volume to 103,600 sq m, near the same in 2023.

In the fourth quarter of 2024, total leasing activity (TLA) reached 170,600 sq m, marking a 30% increase compared to the same period last year.

There were two new project commencements in the office market, Skanska has started the second phase of H2Offices and construction of Modiano has also kicked off.

As of January 2025, the average asking rent for vacant space slightly increased (+1%) q/q, standing at 14.85 EUR/ sq m/ month.