Hungary Retail Figures Q1 2023

Retail sales continued to decline also in March, bringing the YTD retail sales by 9.5% down on Q1 2022 level. Although a contraction in retail demand has been rather typical across CEE, this extent was extreme and mostly caused by high basis in 2022.

The pipeline in the retail sector is still very weak, there hasn’t been any new commencement recently.

In Q1 2023 we registered only one brand entry in Hungary.

Rents in the prime shopping centres in Budapest remained stable. We quoted 70-90 EUR/sq m/m asking rent (ca. 100 sq m unit) in the top shopping centres in Budapest.