Office space openings slowed in 2004
Less new office space was opened in Budapest in Q3 2004 than the amount of new leases in the same period.
Less new office space was opened in Budapest in Q3 2004 than the amount of new leases in the same period, according to real estate consultant firm GVA Hungary Kft's research, which signals a possible pick up in the market in the near future. The company's database registered new leases of 48,500 sq m in Q3 last year, which counts for a 5% increase compared to the previous quarter. Vacancy rates in the third quarter of 2004 dropped to 18%, which, according to the report, could have further dropped to 16% by the end of the year. (Vg 19) R.G.
