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Office News: Tenants are Increasingly Occupying Spaces

Dec 5th, 2019
The number of vacant offices in the Budapest rental market is minimal. In the third quarter, the vacancy rate did not exceed 5.9 percent, according to the Budapest Real Estate Consultants' Consultation Forum (BIEF). Contrary to last year's and first quarter of this year's trend, in the third...

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Sustainability: Surprise from the Developers of Gigantic Agora Office Complex

Sep 15th, 2017
Agora Budapest project is in the making since this spring. The first phase of the office complex built at the Pest side of the Árpád Bridge is planned to be finished by 2019, and the completion of the entire project is expected to take place in 2023. However, there was no need to wait so long for the area around the construction to be built up: until the first stage is fulfilled, a huge public park will make the construction process more pleasant for the passers-by. The contractor HB Reavis is...
Optimistic Mood in the Hungarian Commercial Real Estate Market

Optimistic Mood in the Hungarian Commercial Real Estate Market

Aug 31st, 2017
Hungary emerged as an extremely optimistic country in the region based on the latest results of the retail market mood index.  The research of The Royal Institution of Chartered Surveyors (RICS) compares the mood of commercial real estate market in various countries, taking into account both the lending and investment sides, and ranks the market atmosphere of the countries based on the results achieved by a cumulative index. Based on the latest results, the most confident atmosphere reigns in...
Ideal Offices – Where Working is a Pleasure

Ideal Offices – Where Working is a Pleasure - Part One - Standing Desks

Apr 25th, 2017
Average office life has dramatically changed in the past 20 years. Offices with rooms for a few people and with spacious rooms for the leading staff have been exchanged for working spaces with capacity of even 60-70 people in a single room. Today there are several types of offices available for office rent in Hungary too. Moreover, there are not only the traditional sitting workstations but offices with both sitting and standing desks can be bought or hired. In this mini-series takes a look at...
Creative Coworking Offices

Ideal Offices – Where Working is a Pleasure - Part Two - Creative Coworking Offices

Apr 25th, 2017
Today there are several types of offices available for office rent in Hungary . Moreover, there are not only the traditional workstations. This mini-series takes a look at different types of offices. The first part deals with the so called coworking offices. Coworking offices involve shared working environment in up-to-date office buildings. It is an attractive solution for work-at-home professionals, independent contractors or smaller businesses and start-ups. Coworking office is also the...
Town-sized Office Complex Has Started on Váci Office Corridor

Town-sized Office Complex Has Started on Váci Office Corridor

Mar 31st, 2017
International property developer HB Reavis has gained planning consent for its next new major development Agora Budapest, situated on Váci road office corridor, which is considered to be the heart of the Hungarian office market. The development called Agora Budapest will offer 136,000 sqm well-designed office space for 12,000 professionals.  Investment enough to build an underground line The expected value of the whole projects is HUF 140 billion - reports Portfolio, a Hungarian economic news...
Hungarian Office Market: 'Best Potential for Growth in CEE’

Hungarian Office Market: 'Best Potential for Growth in CEE’

Mar 27th, 2017
Optimistic expectations about the prospects for Hungarian property market is confirmed by the fundamentals, office market experts concluded at PropertyEU's CEE Investment Briefing in Budapest. Here is a summary from the briefing. ‘Hungary has now become a core market and has the biggest potential for growth in the region,’ stated Vlaho Kojakovic, senior banker (European Bank for Reconstruction and Development, EBRD) in London. ‘The market is awash with liquidity.’ A liquid market is favoured by...
BlackRock - The World's Largest Asset Manager To Open New Office in Budapest

BlackRock - The World's Largest Asset Manager To Open New Office in Budapest

Mar 1st, 2017
In a joint press conference with Hungarian Foreign Minister Péter Szijjártó and BlackRock - BlackRock, the world's largest asset manager - managing director Patrick Olson, the global investment management company announced setting up an “innovation centre”, a new office centre in Budapest. What is BlackRock? BlackRock was founded in 1988 by eight entrepreneurs who wanted to start a very different company: one that combined the best of financial services with cutting edge technology. One that...
Skypark: One of the most significant office rental transactions in the Hungarian office market

Skypark: One of the most significant office rental transactions in the Hungarian office market

Feb 17th, 2017
Futureal Group has handed over the Skypark office building as the latest section of the Corvin Promenade. The recently finished 25,000 sqm business center boasts the latest technology since it was planned to meet the needs of research and development (R&D), and is entirely occupied by one office tenant. Skypark is one of the most important office rental transactions in the Hungarian office market since the start of the financial crisis. The building has received BREEAM “Very Good”...
Atenor sells Vaci Greens Top-End Building A

Atenor sells Vaci Greens Top-End Building A

Feb 15th, 2017
Major real estate development company, Atenor has sold building A of Váci Greens in Budapest to a group of private Hungarian investors. The transaction volume was not disclosed. Building A of the iconic Váci Greens office complex, the first of the three buildings so far built by the Belgian developer in the complex, was completed in September 2013 and contains 15,700 sqm of office space. Building A is currently 88% leased. Tenants include General Electric, Sykes, Enterprise, BNP Paribas Real...
Appeninn Purchases Office Building in Budapest

Appeninn Purchases Office Building in Budapest

Feb 13th, 2017
The real estate firm Appeninn is planning to expand its property portfolio in the Hungarian office market. It has just purchased a 3,200 square-meter class “B” office building in Zugló, in a recent move that continues its Hungarian expansion, according to a press statement. The Appeninn Holding Asset Management Plc. was founded at the end of the year 2009 and by now one of the most dynamically developing real estate investment company of Hungary. The Appeninn focuses on several segments of the...

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