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Office Market News

ZenGarden Office Building Achieves Full Occupancy

The premium ZenGarden office building in Buda, managed by Convergence, has reached another major milestone: following a series of successful leasing transactions in recent months, the property has achieved full occupancy. A combination of new leases and renewals has resulted in the building being fully let, clearly demonstrating the effectiveness of a carefully executed leasing strategy.

BRF has published Q1 2026 report on the Budapest office market

The Budapest Research Forum (hereinafter the ‘BRF’, which comprises CBRE, Colliers, Cushman & Wakefield, ESTON International, iO Partners and Robertson Hungary) hereby reports its Q1 2026 office market summary.

CEE 6 Hotel Market Snapshot: Growth, Investment and Budapest in focus

The CEE 6 hotel market delivered strong growth in 2025, with RevPAR up 8.9% year-on-year, supported by rising rates and occupancy, while investment volumes surged by 170%, led by the Czech Republic and Hungary. Prime yields compressed across key markets, and momentum is set to continue into 2026 amid improving financing conditions. Budapest stood out as a top performer, combining solid operational growth with robust investment activity and a strong development pipeline.

Árkád Szeged was sold with the assistance of Robertson Hungary Ltd.

We are extremely proud to announce the successful sale of Árkád Szeged — a premium shopping centre featuring 130 shops across 42,000 sqm GLA and 1,310 parking spaces, located in the heart of the third largest city in Hungary. The shopping center's strategic positioning, tenant mix, stable income profile and the effectiveness of center and asset management by ECE are the key drivers behind the acquisition.

Interviews

Resilience and value creation at the turning point of the cycle – Convergence strengthens through strategic renewal

Market uncertainty, cautious investor sentiment, and transforming office usage habits – yet Convergence has chosen renewal and deliberate development. The real estate investment and development company, presenting itself with a refreshed brand identity, is not merely reacting to challenges but actively shaping the market: it believes in the strength of resilient locations, value-creating repositioning, and long-term growth. We spoke with Mr. Csaba Zeley, Managing Director of Convergence, about the future of the Budapest office market, the role of flexibility, and the next chapter of an iconic inner-Buda office building – a successfully rethought building that has reached a transactionally relevant stage of its lifecycle.

Budapest’s Office Market at a Strategic Inflection Point

Budapest’s office market is no longer navigating a cyclical downturn, but a structural turning point driven by AI, changing work models and outdated lease structures.

Transactions

Date Business Center Tenant m2 Lessor
2026 Q2 Corvin 4. (Corvin Skypark) Teva Magyarország 653 IO Partners
2026 Q1 BudaWest Offices GOALZ Consulting Zrt. n/a Office Service
2026 Q1 Focus Point Irodaház Glas LSS Kft. 350 108 HUNGARY REAL ESTATE Kft

More Transactions »

Best of 2026

  • Largest Rental:

    Centerpoint - ESTON International Kft., with 6100m2 rented space

  • Most Active Office Building:

    Centerpoint, 1 rentals, with 6100m2 rented space

  • Most Active Lessor:

    ESTON International Kft., 2 transactions, transactions total space: 7648 m2

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