The real estate services company – Cushman & Wakefield retained its market leading position for the third consecutive year in 2014. C&W was involved in a record amount of office lease transactions covering 83,000 sqm. The company also concluded 78 transactions in all with an average deal size above 1,000 sqm.
“The Budapest office market continued the momentum it created in 2013 into 2014. Tenants committed to nearly 466,000 sqm of office space, reflecting a strong 17% gain on 2013 and the highest ever levels of take-up recorded. Such robust letting activity helped improve the vacancy rate to a pre-recession low of circa 16.2% at the end of December, this is bucking the trend when compared to the other CEE office markets and their vacancy rates. The C&W Office Team was involved in almost 20% of all lease transactions concluded in the market last year, which is an outstanding achievement bearing in mind more than 50% of the leases were off-market”, said Orsolya Hegedűs MRICS, Head of Research at C&W Budapest.
