Market data · Q2 2026
Budapest office market: data and trends
The Budapest Research Forum’s (BRF) quarterly figures since 2013: vacancy, stock, take-up, completions and submarkets, in charts and tables you can download.
Key figures, Q2 2026
- Vacancy rate 12.2% +0.2 pp q/q -0.6 pp y/y vacant space as a share of the stock
- Modern office stock 4,474,170 m² -0.2% q/q +1.1% y/y speculative and owner-occupied
- Take-up 84,790 m² -34.9% q/q -29.3% y/y in the quarter, renewals included
- Net absorption -8,465 m² previous quarter: 50,770 m² a year ago: 57,000 m² change in occupied space in the quarter
- Completions 0 m² previous quarter: 42,810 m² a year ago: 0 m² office buildings delivered in the quarter
- Prime asking rent 26 €/m²/month +4.0% q/q +4.0% y/y Source: Cushman & Wakefield; BRF publishes no rents
Vacancy rate
The share of vacant space in Budapest’s modern office stock, quarter by quarter.
Take-up
All leasing in the quarter, split into renewals and the rest (new leases, expansions, pre-leases, owner-occupation). Where a release gives no split, the whole bar is one colour.
Completions and stock
New office space delivered in the quarter (bars) and the total modern stock (line, right axis).
Net absorption
The quarterly change in occupied office space: positive when more space was taken up than released.
Submarkets
BRF’s eight Budapest submarkets, Q2 2026: stock, vacancy, take-up, space under construction and prime rent. Sort by clicking a column’s header.
| Submarket | |||||||
|---|---|---|---|---|---|---|---|
| CBD | 346,870 | 38,500 | 11.1% | +0.6 pp | 6,435 | 3,000 | 26 € |
| Central Pest | 729,975 | 126,105 | 17.3% | 0.0 pp | 21,125 | 7,700 | 18.50 € |
| Central Buda | 452,260 | 28,880 | 6.4% | -1.0 pp | 6,555 | 1,300 | 23 € |
| Váci Corridor | 1,139,875 | 123,740 | 10.9% | -1.2 pp | 16,850 | 163,035 | 21 € |
| North Buda | 342,430 | 30,575 | 8.9% | +1.3 pp | 3,085 | 1,000 | 18 € |
| South Buda | 709,375 | 75,565 | 10.7% | -1.0 pp | 23,620 | 102,270 | 19.50 € |
| Non-Central Pest | 642,320 | 99,020 | 15.4% | -1.5 pp | 2,375 | 135,800 | 16 € |
| Periphery | 111,065 | 22,370 | 20.1% | +0.7 pp | 4,745 | 0 | 11.50 € |
| Budapest total | 4,474,170 | 544,755 | 12.2% | -0.6 pp | 84,790 | 414,105 | 25 € |
Source: BRF figures as Cushman & Wakefield’s MarketBeat publishes them; the prime rent is Cushman & Wakefield’s asking rent. The change in a year is against the same quarter a year earlier.
Vacancy by submarket
The vacancy rate of BRF’s eight submarkets. Switch submarkets on and off in the legend.
Prime rent by submarket
The asking rent of the best office buildings (€/m²/month), as Cushman & Wakefield reports it.
Quarter by quarter since 2013
Download the data (CSV)Every quarter as the BRF release states it, newest first. A dash means the release did not state the figure: nothing in the table is estimated or back-calculated.
| Quarter | Stock (m²) | Completions (m²) | Take-up (m²) | Renewals | Vacancy | Net absorption (m²) | Deals | Average deal (m²) | Source |
|---|---|---|---|---|---|---|---|---|---|
| Q2 2026 | 4,474,170 | 0 | 84,790 | 62.0% | 12.2% | -8,465 | 132 | 640 | External source |
| Q1 2026 | 4,483,120 | 42,810 | 130,250 | 47.0% | 12.0% | 50,770 | 91 | 1,430 | Release |
| Q4 2025 | 4,461,680 | 50,380 | 190,960 | 43.0% | 12.5% | 84,015 | 176 | 1,085 | Release |
| Q3 2025 | 4,426,050 | 0 | 101,950 | 41.0% | 13.4% | -30,040 | 113 | 902 | – |
| Q2 2025 | 4,426,050 | 0 | 119,975 | 39.0% | 12.8% | 57,000 | 136 | 882 | Release |
| Q1 2025 | 4,426,050 | 5,060 | 92,965 | 45.0% | 14.1% | -11,475 | 138 | 669 | Release |
| Q4 2024 | 4,455,615 | 2,150 | 170,630 | 76.0% | 14.1% | -2,880 | 143 | 1,195 | Release |
| Q3 2024 | 4,463,695 | 23,205 | 93,150 | 51.0% | 14.0% | 16,305 | 147 | 634 | Release |
| Q2 2024 | 4,440,490 | 51,845 | 143,395 | 42.0% | 13.9% | 34,245 | 162 | 885 | – |
| Q1 2024 | 4,377,170 | 26,440 | 94,980 | 53.0% | 13.8% | 0 | 153 | 621 | Release |
| Q4 2023 | 4,369,900 | 25,320 | 131,315 | 52.0% | 13.5% | 6,590 | 155 | 847 | Release |
| Q3 2023 | 4,344,580 | 13,460 | 136,700 | 45.0% | 13.2% | -12,865 | 157 | 871 | Release |
| Q2 2023 | 4,334,880 | 38,000 | 119,890 | 42.0% | 12.6% | 12,290 | 162 | 740 | Release |
| Q1 2023 | 4,301,860 | 26,050 | 76,660 | 56.0% | 12.2% | -19,160 | 120 | 640 | Release |
| Q4 2022 | 4,251,570 | 75,910 | 101,480 | 42.0% | 11.3% | 53,480 | 140 | 725 | Release |
| Q3 2022 | 4,175,670 | 82,420 | 101,430 | 33.0% | 11.0% | 27,210 | 97 | 1,046 | Release |
| Q2 2022 | 4,093,250 | 30,750 | 108,020 | 27.0% | 9.9% | 33,720 | 144 | 750 | Release |
| Q1 2022 | 4,053,940 | 78,350 | 80,750 | 47.0% | 9.8% | 44,100 | 122 | 662 | Release |
| Q4 2021 | 3,955,600 | 0 | 112,280 | 48.0% | 9.2% | -3,630 | 151 | 745 | Release |
| Q3 2021 | 3,955,600 | 0 | 81,500 | 22.0% | 9.1% | 29,300 | 146 | 560 | Release |
| Q2 2021 | 3,955,570 | 19,760 | 97,990 | 40.0% | 9.8% | -16,720 | 114 | 864 | Release |
| Q1 2021 | 3,935,990 | 24,700 | 74,900 | 48.0% | 9.0% | 5,240 | 120 | 624 | Release |
| Q4 2020 | 3,903,840 | 38,850 | 86,310 | 44.0% | 9.1% | -5,100 | 111 | 778 | Release |
| Q3 2020 | 3,856,750 | 59,785 | 79,350 | 36.0% | 8.1% | 6,480 | 106 | 749 | Release |
| Q2 2020 | 3,817,305 | 87,750 | 87,990 | 55.0% | 7.3% | 31,430 | 114 | 772 | Release |
| Q1 2020 | 3,740,990 | – | 79,660 | 36.0% | 6.2% | 22,790 | 118 | 675 | Release |
| Q4 2019 | 3,687,620 | – | 202,510 | 44.5% | 5.6% | 28,170 | 170 | 1,191 | – |
| Q3 2019 | 3,668,735 | – | 191,235 | 63.0% | 5.9% | 28,095 | 141 | 1,356 | Release |
| Q2 2019 | 3,654,180 | 31,690 | 163,390 | 22.0% | 6.3% | 52,180 | 207 | 789 | External source |
| Q1 2019 | 3,627,500 | 0 | 79,980 | 36.0% | 7.1% | 19,940 | 153 | 523 | Release |
| Q4 2018 | 3,628,105 | 44,265 | 171,490 | 25.3% | 7.3% | 6,350 | 202 | 849 | Release |
| Q3 2018 | 3,587,290 | 110,970 | 111,430 | 20.0% | 6.4% | 142,210 | 145 | 768 | Release |
| Q2 2018 | 3,503,170 | 57,060 | 161,550 | 34.0% | 7.6% | 40,140 | 196 | 824 | Release |
| Q1 2018 | 3,446,110 | 18,280 | 91,100 | 26.4% | 7.3% | 37,425 | 139 | 655 | Release |
| Q4 2017 | 3,415,550 | 67,920 | 144,365 | 32.1% | 7.5% | 65,205 | 169 | 854 | Release |
| Q3 2017 | 3,353,235 | – | 164,980 | 24.8% | 7.6% | 40,815 | 162 | 1,018 | – |
| Q2 2017 | 3,346,735 | 0 | 98,730 | 38.5% | 8.6% | 19,265 | 178 | 555 | Release |
| Q1 2017 | 3,346,735 | 5,500 | 66,990 | 18.2% | 9.2% | 7,600 | 154 | 435 | Release |
| Q4 2016 | 3,360,090 | 25,400 | 163,610 | – | 9.5% | 68,790 | 230 | 711 | Release |
| Q3 2016 | 3,334,690 | 39,570 | 95,230 | 41.0% | 10.9% | 23,020 | 176 | 541 | Release |
| Q2 2016 | 3,297,360 | 5,700 | 129,170 | 51.0% | 10.3% | 36,525 | 202 | 639 | Release |
| Q1 2016 | 3,295,150 | 25,600 | 84,410 | 34.0% | 11.3% | 29,301 | 212 | 398 | – |
| Q4 2015 | 3,280,970 | 3,020 | 160,975 | 24.0% | 12.1% | – | 202 | 801 | External source |
| Q3 2015 | 3,277,900 | 27,800 | 99,600 | 54.0% | 13.5% | 47,600 | 180 | 553 | Release |
| Q2 2015 | 3,250,200 | 20,100 | 213,500 | 29.0% | 14.2% | 66,150 | 213 | 1,002 | Release |
| Q1 2015 | 3,230,100 | 0 | 64,010 | 31.0% | 15.7% | 13,960 | 165 | 388 | Release |
| Q4 2014 | 3,238,180 | 18,795 | 117,040 | 45.0% | 16.2% | – | 173 | 677 | External source |
| Q3 2014 | 3,219,380 | – | 99,660 | 41.0% | 16.9% | – | 182 | 548 | Release |
| Q2 2014 | 3,205,600 | 21,100 | 191,720 | 52.0% | 17.6% | 46,150 | 188 | 1,020 | Release |
| Q1 2014 | 3,184,500 | – | 57,200 | 35.0% | – | – | 158 | 362 | – |
| Q4 2013 | 3,172,400 | 0 | 153,500 | 77.0% | 18.4% | – | 215 | 714 | Release |
| Q3 2013 | 3,172,400 | – | 98,014 | 20.0% | 18.6% | – | 192 | 442 | Release |
| Q2 2013 | 3,164,224 | – | 74,268 | 37.4% | 19.9% | – | 156 | 476 | Release |
| Q1 2013 | 3,145,467 | 3,300 | 71,409 | – | 19.6% | – | 172 | 415 | – |
Methodology and definitions
- Modern office stock
- Modern (class A and B) office space in Budapest and its periphery: speculative buildings built to let and owner-occupied buildings together.
- Vacancy rate
- Vacant space available for occupation as a share of the total stock.
- Take-up
- The area of all leases signed in the quarter: new leases, expansions, pre-leases, renewals and owner-occupation.
- Renewal
- A tenant staying in its office under a new lease. Part of total take-up, though no new space is occupied.
- Net take-up
- Take-up without renewals (and owner-occupation): the leases of tenants actually moving.
- Net absorption
- The change in occupied space over a quarter: space taken up minus space released.
- Completions
- New office space completed and ready for occupation in the quarter.
- Submarkets
- BRF divides the Budapest market into eight: CBD, Central Pest, Central Buda, Váci Corridor, North Buda, South Buda, Non-Central Pest and Periphery.
- Prime rent
- The asking rent of a submarket’s best office buildings, in euro per square metre per month. BRF publishes no rents; the prime rent is Cushman & Wakefield’s.
The figures come from the BRF quarterly releases published since 2013, each number as the release states it; the submarket tables from Cushman & Wakefield’s MarketBeat reports, which publish BRF’s figures. BRF revises the stock from time to time (demolitions, reclassifications), so two quarters’ stock does not always differ by the completions alone. The page is updated every quarter, after the BRF release.
Frequently asked questions
What is the office vacancy rate in Budapest?
According to BRF, it stood at 12.2% of Budapest’s modern office stock at the end of Q2 2026. The lowest was in Central Buda (6.4%), the highest in Periphery (20.1%).
How large is the Budapest modern office stock?
According to BRF, 4,474,170 m² of modern office space stood in Budapest and its periphery at the end of Q2 2026, speculative and owner-occupied together.
How much office space is leased in Budapest in a year?
According to BRF, total take-up was 505,850 m² in 2025, renewals included.
What do the best Budapest offices rent for?
Cushman & Wakefield puts Budapest’s prime asking rent at 26 € per square metre per month, in the CBD. Each building’s own asking rent is shown in the office listings.
Where do the figures come from, and how often are they updated?
From the Budapest Research Forum (BRF), whose members are the leading real estate advisory firms and which publishes joint market figures every quarter. The page holds every release since 2013 and is updated each quarter, after the BRF release.
Looking for an office?
From the market to the buildings: Budapest office buildings to let, by district and office corridor, with asking rents and space available.
