A total of 87,750 sqm of new office space was completed in Budapest in the second quarter of this year, according to the Budapest Research Forum. The completions included Agora Tower (34,500 sqm), Vaci Greens F (25,050 sqm), the first phase of Arena Business Campus (20,400 sqm), Kalman Imre 20 (2,300 sqm) and Market’s new headquarters (5,500 sqm). The office vacancy rate in Q2 increased to 7.3 percent, up 1 percent q-o-q and 1.1 percent y-o-y. The city’s office sector has undergone a dramatic increase in supply that’s begun to make up for a lack of new supply that emerged in the slow years after the financial crisis.
