The office market has experienced an ongoing recovery in the recent period. This is also reflected by the results of CPI Hungary (former Ablon), as it has increased by 20% within a year the ration of the leased premises in the Business Center 91 Office Building. From the second half of the last year increasing activity on the lease market could be observed, thus time has come, in addition to extensions, for the expansion of leased premises and conclusion of new lease agreements as well.
Average prime office rental growth is up by a quarter, at 25.2%, for energy dependent cities - a city which is driven by the energy sector (oil and gas) for economic and real estate activity - this year. This far outstrips the average of 4.5% for other established office locations according to the latest research from global property advisor CBRE, which covers 33 cities.
CBRE Hungary announced that Dávid Tóth joined its Valuation Department as of 1 November. Dávid will focus on valuation reports for banks, real estate companies, investment funds and corporate clients on a national and cross-border basis.
Ireland and Spain are close to record-breaking levels for commercial real estate (CRE) investment as buyers search for value in non-core markets. In Hungary office and industrial investment volumes are likely to increase most significantly, according to the latest research from global real estate advisor CBRE.
The neoclassical building on the prestigious ‘Champs-Élysées of Budapest’, at 100 Andrássy Avenue was originally built as a residence for the Prime Minister in 1890. It later served as a trade union headquarters and then as a school for confectionary students. The expansion of the building took place at the end of the 1990s.
Veeva Systems Inc., a leading provider of cloud-based software for the life sciences industry, signed a long-term lease for 1,300 square meters of space in the Alkotás Point office building. With this deal the building’s occupancy has increased to over 90 percent. CBRE represented the landlord during the negotiations, while Eston introduced the tenant into the building.
CBRE has been named the top global real estate advisory firm in the 2014 Euromoney real estate awards. CBRE is the only firm to achieve top honours in three consecutive years, and has now earned the highest award seven times in the ten years that Euromoney has been running its real estate awards program. The Hungarian office was awarded the Best Research recognition for the third year in a row.
One of the leading road construction groups of Hungary opens its new headquarters in the capital's 11th district with the assistance of CBRE. The nearly 5,000-square meter Daróczi 30 office building is located in central Buda near to the junctions of Karolina út and Villányi út. Its new tenant is opening its Hungarian headquarters in the building, formerly occupied by Austrian construction company, Strabag.
We use cookies to optimise site functionality and give you the best possible experience.
This site uses cookies to store information on your computer.
Some of these cookies are essential, while others help us to improve your experience by providing insights into how the site is being used.
Accept Recommended Settings
Necessary Cookies
Necessary cookies enable core functionality such as page navigation and access to secure areas. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.
Analytics
Analytical cookies help us to improve our website by collecting and reporting information on its usage.
Marketing
We use marketing cookies to help us improve the relevancy of advertising campaigns you receive.
Social Sharing Cookies
We use some social sharing plugins, to allow you to share certain pages of our website on social media.
