02. August 2010 
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Stabilization on the industrial market
This also means that overall vacancy on the market remained stagnant, coming in at 21.3%, virtually identical to 21.2% at the end of last year. Within this, vacancy at speculative buildings moved up slightly from 23% to 24.7%, while the figure dropped from 17% to 13.1% for BTS investments (due in large part to the increased utilization of the former Rynart portfolio).
The amount of empty space is still strewn across Budapest and its vicinity. While it is relatively easy to find 1,000–4,000 sqm of leasable space, there are only seven locations where more than 10,000 sqm of continuous space are available, and three or four where more than 20,000 sqm can be leased.
Rents
Rental levels stagnated in the first half as well, as headline rents for big box buildings remaining in the €3.2–3.8/sqm/pcm range, while the rate at city logistics buildings is around €5/sqm/pcm.
There were no substantial land or building purchase transactions during the first half, although certain groups of buyers have returned to the market, mostly looking for properties for own use (production, brand service). Interest however is mostly focused on smaller buildings or land plots, with larger facilities and plots not sought at all.
„As for the rest of the year 2010, Colliers International expects a similar overall picture as seen during the first half. No significant improvement in market trends is foreseen, with the next half-year (as well as likely the one after that) continuing to be characterized by stabilization and market balance at current levels. Further lease transactions will definitely take place, and a few developers have indicated that they could most likely commence certain developments in the second half, even on a speculative basis.” – summarized Tamás Beck, director of industrial sales & leasing at Colliers International.
The amount of empty space is still strewn across Budapest and its vicinity. While it is relatively easy to find 1,000–4,000 sqm of leasable space, there are only seven locations where more than 10,000 sqm of continuous space are available, and three or four where more than 20,000 sqm can be leased.
Rents
Rental levels stagnated in the first half as well, as headline rents for big box buildings remaining in the €3.2–3.8/sqm/pcm range, while the rate at city logistics buildings is around €5/sqm/pcm.
There were no substantial land or building purchase transactions during the first half, although certain groups of buyers have returned to the market, mostly looking for properties for own use (production, brand service). Interest however is mostly focused on smaller buildings or land plots, with larger facilities and plots not sought at all.
„As for the rest of the year 2010, Colliers International expects a similar overall picture as seen during the first half. No significant improvement in market trends is foreseen, with the next half-year (as well as likely the one after that) continuing to be characterized by stabilization and market balance at current levels. Further lease transactions will definitely take place, and a few developers have indicated that they could most likely commence certain developments in the second half, even on a speculative basis.” – summarized Tamás Beck, director of industrial sales & leasing at Colliers International.
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