CBRE: Budapest Big Box Logistics

No completion was handed over in Greater Budapest area in 2013 so far but a construction started in the future Budapest Airport Business Park based on a pre-lease signed by DHL for 10,800 sq m.

As usual, first quarter of 2013 was relatively weak in terms of demand. Although 24,800 sq m of take-up shows an increase on q-o-q but it is by 13% down on Q1 2012.

In Q1 2013 negative net absorption drove vacancy close to 22% again. City logistics vacancy rate declined to 19.8% for the first time on record, while big-box logistics vacancy moved out to 21.9%.

Budapest Big Box Logistics MarketView here!