Hungary Industrial Figures Q3 2023

The total modern industrial stock in Hungary exceeded 5 million sq m by the end of Q3 2023. The pipeline consists of 364,500 sq m (incl. 50,500 sq m on hold) and 137,900 sq m of space being under construction (U/C) in Greater Budapest and pan-regional Hungary as of October 2023, respectively. Total leasing activity (TLA) in Greater Budapest reached 85,200 sq m in Q3. The vacancy rate in Hungary was 8.6% at the end of Q3. The vacancy rate in Greater Budapest increased q/q to 10.0% due to the weak demand and significant completions.