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Recovery on the Budapest real estate market is still to come

Jones Lang LaSalle has published its Budapest City Report Q1 2012 focusing on the latest real estate trends of the Budapest real estate market. The publication reports stagnating real estate markets including office, retail and industrial leasing markets due to the continued economic uncertainty. Furthermore, despite there being a number of assets for sale in Budapest there were no open market transactions in this period.On the Budapest office market only one smaller office building was handed over in Q1 2012. With the completion of the 2,350 sq m IQ Offices the modern office stock increased to 3,175,800 sq m. Following the decline registered last year, vacancy rate rose from 19.2% to 20.4%. The slight jump was mainly a consequence of large...[…]