lh x cw market report A4_23.03.02 v34 interactive72
SUBMARKET SCHEME
GLA (SQ. M)
DEVELOPER SPEC / OO
VÁCI CORRIDOR
H2O Phase 1
25 900
Skanska
Spec
VÁCI CORRIDOR
The Pillar
27 500
GTC
Spec
VÁCI CORRIDOR
OTP M12
28 000
OTP
OO
VÁCI CORRIDOR
Green Court Office
19 000
Codic
Spec
SOUTH BUDA
MOL Campus
50 000
MOL
OO
SOUTH BUDA
Budapest One Phase 2 & 3 37 900
Futureal
Spec
SOUTH BUDA
Office Garden 4
20 000
GRT Group
Spec
NON-CENTRAL PEST Bosch Campus II
17 100
Bosch
OO
CENTRAL PEST
Millennium Gardens Phase 1
20 000
Trigránit
Spec
There are currently 320 000 square metres of office space under construction across Budapest, which are currently scheduled for completion by 2024. Meanwhile, hardly any projects have been announced for 2025. A new trend is that 60% of the office space under construction is currently in the Central Pest and Non Central Pest submarkets, with the former top ranked Váci corridor now only accounting for 4% of developments under construction.
350 000
ANNUAL OFFICE SUPPLY 2009-2024 F (SQ M)
Source: BRF, Cushman & Wakefield Research
300 000
Annual office
supply (sq m) 2006-2009
350 000
200 000
CONFIRMED PIPELINE BY SUBMARKETS (THOUSAND SQ M)
2023
2024
250 000
Source: Cushman & Wakefield Research
Váci Corridor
8 7 6 5 4 3 2 1
Annual office
200 000
North Buda
supply (sq m) 2010-2016
Central Pest
150 000
Central Buda
100 000
Non Central Pest
2011
2017
2012
2021
2013
2015
2018
2019
2016
2014
2010
2022
2020
2009
South Buda
2023 F
2024 F
Office
22
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