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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