lh x cw market report A4_23.03.02 v34 interactive72
THE CBD
THE MOST UNDERSUPPLIED CBD IN THE REGION
The CBD is Budapest’s historic core. As a UNESCO World Heritage site, the CBD is historically protected, which severely limits the potential to develop. Genuine class A offices are very limited and only a handful of assets are of sufficient scale or have suitable floorplates to cater for large scale or headquarter buildings.
CBD SHARE OF TOTAL BUDAPEST DEMAND
Cushman & Wakefield Research
100%
90%
PUBLIC OCCUPIERS VS OTHERS (SQ M)
80%
70%
Cushman & Wakefield Research
16 000
60%
50%
40%
14 000
30%
20%
12 000
10%
Ministry of Agriculture inistry of Agriculture
0%
10 000
KEF
2011
2017
2012
2021
2013
2015
2018
2019
2016
2014
2010
2022
2020
Typical occupiers of the CBD are professional service providers and state bodies, rather than the largescale BPO’s that are found in other locations. The limited supply and intense demand have enabled rents to grow at a much faster rate than other Central European Capitals. With CBD supply being the lowest of any major capital city, this is trend is likely to continue.
8 000
6 000
PWC
4 000
MKIK
2 000
HIPA
Mito
REGUS
Sberbank
KDB Bank
Klebelsberg Központ LogMeIn
IBM Labs
Medicover
Diligent Corporation CHBC /Cloudera
0
Magyarország Zrt.
Office
28
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