Demand for Hungarian office space dropped by 9 per cent during the first six months of 2012 on a year-on-year basis, figures released by Budapest property consultancy forum BIEF this week show.
A poor first quarter is to blame for the drop as the second quarter saw an increase of 10 per cent. The overall vacancy rate for the 3,176,000 sqm total office space in Hungary is now at 21.3 per cent according to BIEF figures. During the second quarter of 2012, 96,000 sqm of office space was leased, up by 80 per cent from the previous quarter.
