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What's the Role of Váci Road Office Corridor in the Hungarian Economy?

Feb 17th, 2020
Companies with their headquarters located in Budapest between Nyugati Railway Station and Újpest Center metro station in Váci Road, play a huge role in Hungary’s economy. Most of the companies here offer services, with only a negligible amount of manufacturing, making them less eye-catching than a...


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Offices of the future: upcoming projects in Budapest

Mar 22nd, 2016
According to the data provided by the Budapest Property Consultants Coordination Forum, the total amount of office spaces to rent has increased by 50 885 square metres last year – which is 25.4% less than the figures of 2014, but luckily more and more projects are being announced and are in the construction phase. That means an abundance of new buildings inaugurated this year and in the upcoming few years. According to BIEF’s quarterly report, the total amount of office spaces available and in...

Gigantic business park to be built on Váci Avenue

Mar 21st, 2016
2015 was a very successful year for HB Reavis’ Group’s Hungarian subsidiary. HB Reavis is the top developer company in Central Europe, and its first project in Hungary, the Váci Corner Offices has already been named as the country’s most eco-friendly office block. Váci Corner Offices is operating at a 96% rental rate, but HB Reavis doesn’t plan on pulling the breaks: they’re preparing one of the most defining developments for the upcoming years. The past year was a very memorable chapter in HB...

Healthy, Creative Offices of High Standards in Hungarian Real Estate Market

Feb 17th, 2016
World-class tenders   ”The Office of the Year” contest (Az Év Irodája) broke records as 84 world-class tenders arrived in seven categories, including 41 offices in eponymic category and almost 300 real estate experts were present at the Award Gala in the Museum of Applied Arts. The professional jury handed out 11 awards in 7 categories. Audience could also vote in each category.   Office environments of higher standards   The high number of the applicants proved that healthy, creative...
green certificate

Office Buidings in Budapest Received Internationally Accepted Green Certification

Feb 17th, 2016
Three office buildings of IMMOFINANZ in Budapest – Szépvölgyi Business Park, Greenpoint7 and Central Business Center – obtained BREEAM In-Use cetification. BREEAM In-Use (Building Research Establishment Environmental Assessment Methodology) is the world’s longest established internationally accepted method of assessing, rating and certifying the sustainability of buildings and assists builders and owners reduce cost effectively and adopt sustainable solutions.  All the three buildings received...

Hungarian offices are evolving steadily

Feb 15th, 2016
The Office of the Year competition revealed that Budapest is the home of several exceptionally high quality, creative offices, indicating the strengthening of the economical environment and integration of Western methods. Overall the competition received 41 entries which is a record high number, indicating that the office culture of Hungary is steadily developing. As added value, talent and creativity gains a more important role in the lives of companies the importance of the well being of...

The office of the 21st century explained

Feb 15th, 2016
Modern work culture baffles a lot of people who got used to the old ways. Open space, collaboration, break out – modern innovations of offices which we will now explain in detail. Old-school offices focused on mainly individual needs of the workers. Everyone had their own desks, tools, equipment, but rarely the chance for true collaboration and offices certainly didn't make it their primary goal to provide an overall pleasing environment. In the 21st century however the paradigm has changed....

What boosts the real estate market besides CSOK?

Feb 15th, 2016
2015 was a great year for the Hungarian real estate market, all segments showed growth and everyone is looking forward to 2016 too. The growth is driven by multiple factors and even those sectors show signs of revival which have been weak ever since the financial crisis. Portfolio asked experts about what can be expected on the Hungarian real estate market in 2016. Láránt Kibédia Varga, CEO of CBRE and Gábor Borbély MRICS, leading analyst of CBRE said that overall they are positive about 2016....

Experts expect more foreign investors in Hungary

Feb 2nd, 2016
The Hungarian market is currently one of the most attractive ones in Europe and will continue to be in the next year – and one of the main reasons behind that is the relatively high yield. Western European real estate markets are far ahead of the Hungarian market, the volume of investments there has already reached the pre-crisis levels. In the third quarter of 2015 there was a significant 25% increase in real estate investments on the European markets. In multiple countries like French,...

More and more tenants enter the office market

Feb 2nd, 2016
Turnover is increasing on the office and industrial estate rental markets in Hungary with more new developments on the horizon. Investors and tenants are becoming increasingly interested in office and logistics estates, but still the buzz is far volume from the housing market's. In the third quarter of 2015 contract extensions made up more than half of buyer demand. Profitability of the capital's market is still bad compared to other parts of Europe therefore it is still hard to find a...

Utilization is at a seven year high in Budapest

Feb 2nd, 2016
Utilization rate on the office market improved further according to data provided by the most recent surveys of GKI. Compared to six months before utilization increased in all examined segments, and in Budapest the rate reached 81%, which is the highest in seven years. The rate hasn't changed in Eastern Hungary in the past six months and still stands at 67%, however it increased to 75% from 69% in Western Hungary. In the last period demand has clearly increased, but unused capacity is...


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