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Behind the good take-up figure of Q4 2008 |
The Budapest Research Forum (BRF) has recently published its market report on the Budapest office market. 2008 closed with a record take-up of 330.289 sqm, this is due to the significant lease transactions concluded in the fourth quarter. „The high take up figure should not mask the fact that vacancy rate...
...reached 16,8% for the total market (Class A and B) and it is already 17,9% for Class A office buildings. Class A vacancy was 12,6% in Q4 2007” - says Rémi Couture, Research Director of Colliers International Budapest.
Colliers’ Research Director emphasizes, that this trend will likely continue in 2009, and the vacancy rate of Class A office buildings will further increase. BRF reported on significant lease transactions such as the 3 K&H leases in TriGranit’s Millennium City, all together totaling nearly 47.000 sqm of office space. However, the K&H deals will not have a considerable effect on the overall vacancy level, because when they will move in their new head-quarter buildings they will vacate the old ones.
Couture also expects more companies to follow the example of K&H and also of MÁV. The railway company signed a lease contract for approximately 21,000 sqm office space in Parkway Offices. “We expect other companies to take advantage of the new supply available to relocate in efficient and more affordable location.”
„From the record take-up still many companies find their new office space without the help of tenant representation services. I am sure, that a tenant representation team can find the best conditions possible for the clients. We act for companies taking cost effectiveness and preparation of a well-established, rational decision into consideration - whether to stay or relocate - with the help of a professional team.
We have found the best solutions for Orange Business Services, UCB Ingatlanhitel, Capgemini, Celanese Corporation or Deloitte, just to name a few of our past clients” – added Miklós Saly, Head of Tenant Representation at Colliers International. Author of the article: O|G|H |
