Budapest, 2nd October, 2008 

„Don’t change a winning formula!” – calls the attention Rémi Couture, Research Director of Colliers International for the latest Knowledge Report of the Hungarian affiliated office presented on Váci út corridor. This area has been one of the most popular development destinations in Budapest and will probably remain so for a long period of time. At the end of 2008 H1, there were 29 Class A buildings in the sub-market, with a total office area of 390,000 sqm. The 18 Class B buildings offer an additional 91,000 sqm. In the near future, two further projects will be delivered to the Market: the Spiral in 2008 and Capital Square in 2009.

The above-mentioned projects represent 58,400 sqm of new gross office space to be delivered on the market in the next six months. Colliers forecasts another 51,000 sqm to be delivered by the end of 2009. In all, a 30% increase is expected in the Class A market in the next 18 months. “This additional supply and the uncertain economic situation will put a downward pressure on rental level, but of all the Budapest sub-markets, the Váci út corridor will be one of the least affected.” - Rémi Couture pointed out.

The latest sub-market report, which is focusing on specific questions such as sustainability, further development opportunities, skyscraper constructions, hotels, major sales transactions and yields, occupancy, vacancy and last but not least office growth on the Váci út corridor market, is available for download at the official website of Colliers International Budapest (http://www.colliers.hu/images/marketreports/vaci_corridor_Q2_ENG.pdf).