lh x cw market report A4_23.03.02 v34 interactive72

DEVELOPMENT ACTIVITY IN GREATER BUDAPEST IN 2023 AND BEYOND

More than 600 000 square metres of logistics space is currently under construction in Hungary. The vast majority of this is located in the Greater Budapest area, with a total of 476,000 sq. m and a pre-letting rate of 30%. Development is concentrated in the eastern and southern submarkets.

In the regional markets, development activity is more subdued, with around 136,000 sq. m currently under construction, 44% of which is already under pre-lease. Development is concentrated in Kecskemét, Miskolc and Tatabánya. In terms of developers, HelloParks is currently the most active developer focusing on the Greater Budapest area, followed by CTP and VGP. In the regional markets, InfoGroup and Cordys Capital are the most active developers. Faedra Group, Biggeorge and White Star are the newest players in the logistics development market.

DEVELOPMENT PIPELINE IN U/C STATUS, GREATER BUDAPEST AREA (SQ M)

Cushman & Wakefield Research

North

South

South

Pre-let Pre-let Pre-let GLA GLA GLA 0 0

North

2024 2023 2023

DEVELOPMENT PIPELINE BY DEVELOPERS AND LOCATION

South

South

Cushman & Wakefield Research 250 000

North

North

Greater Budapest Countryside

South

East

200 000

North

North

West

South

South

East

150 000

20 000 20 000

80 000 80 000

60 000 60 000

40 000 40 000

120 000 120 000

160 000 160 000

140 000 140 000

100 000 100 000

DEVELOPMENT PIPELINE IN U/C STATUS, COUNTRYSIDE (SQ M)

100 000

Cushman & Wakefield Research

Western Transdanubia ntral Transdanubia outhern Great Plain Northern Hungary Western Transdanubia ntral Transdanubia outhern Great Plain Northern Hungary

Central Transdanubia

Western Transdanubia

50 000

Southern Great Plain Northern Hungary

Western Transdanubia Central Transdanubia Southern Great Plain Northern Hungary

0

CTP

VGP

WING

NIPÜF

Prologis

Panattoni

Infogroup

WhiteStar

Faedra Group Biggeorge

Hello Parks

Cordys Capital