Office
Although economic growth has slowed, office employment in Budapest has remained stable, outperforming its CEE peers. In2024, leasing activity in Budapest remained stable, with an 8% year-over-year increase. However, renewals continued to dominate, accounting for 57% of total demand.
Retail
Retail sales have been growing year-on-year each month since January, though at a slower pan than initially anticipated. Hungary’s retail property market experienced moderate growth in 2024. The regional retail stock expanded by 40,250 sq m nationwide, with nine smaller-sized retail schemes completed.
Industrial
In line with previous trends, Hungary's industrial stock continued to expand in 2024, growing by 9% compared to the last quarter of 2023. A total of 486,395 sq m of new industrial space was completed in 2024, with 51% of this new space delivered outside of Budapest.
