Hungary Industrial Figures Q1 2023

The total modern industrial stock in Hungary stood at 4,730,000 sq m at the end of the Q1 2023. The stock in Greater Budapest reached 3,241,200 sq m – following a completion of 111,300 sq m in Q1.

The pipeline consists of 454,900 sq m and 117,600 sq m of space being under active construction (U/C) in Greater Budapest and pan-regional Hungary as of end of Q1 2023, respectively. 

The total leasing activity (TLA) in Greater Budapest reached 107,000 sq m in Q1. In Regional Hungary the total leasing activity was 63,400 sq m.

Vacancy rate in Hungary was at 6.0% as of end Q1. The vacancy rate in Greater Budapest increased q/q on the back of robust supply to 5.9%.

Prime industrial rent in big-box logistics increased to EUR 5.6/sq m pm (+2% q/q), increased by 12% year on year.