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Office Market News

Technology can revitalize aging office buildings in maturing CEE-12 markets, extending offices’ lifespans and reduce the necessity for extensive renovations

Smart usage of technology in office buildings, accompanied by market indicators such as modern office supply per capita and low vacancy rates, continue to impact positively on the current condition of the office sector in Central and Eastern Europe

From serviced office to traditional lease - Flexion chose ZenGarden

The success story of Flexion Mobile Plc's Hungarian Branch has been unfolding since its founding on December 1, 2015. The company's growth has now reached another milestone: they have chosen traditional long-term office leasing over their previous serviced office rental and are moving to ZenGarden.

IWG expands its footprint in Hungary with two new locations, as demand for hybrid working rises

Internatonal Worplace Group (IWG) expands its footprint in Budapest and Debrecen, Hungary with the additon of two new workspaces planned for 2024.

In the next two years, the capital cities of Central European countries (Prague, Bratislava, Budapest, and Bucharest) could encounter an office shortage due to delayed construction caused by uncertain economic outlook combined with high costs and slowing

By the close of Q3 2023, the total area of modern offices in Budapest increased to 4.344 million sqm. From the beginning of 2023, 77,500 sqm of office space was completed, and by year-end an additional 43,670 sqm is expected to be delivered.


The office market remains price sensitive

NEWMARK VLK HUNGARY’S Managing Partner says demand for experienced advisors providing high added value is ever growing, as the alternative – rectifying a poor lease contract after it is signed – is difficult and expensive.

Mr. Károly Mózes: Hungary is one of our fastest growing locations

The Partnership Business Development Manager of IWG says that companies require less space as their employees are no longer in the same location 5 days a week and providing access to a network of locations boosts productivity and provides greater flexibility and convenience for employees


Date Business Center Tenant m2 Agency
2023 Q4 MOM Towers ECO-TEC Kft. 560 Property Solution Group
2023 Q4 Terrapark Next KARL STORZ Magyarország Kft. 318 Property Solution Group
2023 Q4 Telekom székház Deutsche Telekom IT Solutions 11000 CBRE Kft.

More Transactions »

Best of 2023

  • Largest Rental:

    Telekom székház - CBRE Kft., with 11000m2 rented space

  • Most Active Office Building:

    Hungária Office Park, 2 db rentals, with 14000m2 rented space

  • Most Active Agency:

    Cushman & Wakefield Kft., 10 transactions, transactions total space: 20401 m2

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