Budapest office stock increases by 100,000 sqm in 2016

Nearly 100,000 sqm of new office space was delivered to the Budapest market in 2016, the highest figure since 2010, according to the Budapest Research Forum. Meanwhile, demand picked up in the fourth quarter of the year with a large share of the total leasing volume made up of pre-leases and new transactions. In the last quarter of 2016, one new office building was delivered to the Budapest office market, spanning 25,400 sqm. The fourth office phase of the Corvin Quarter urban development project was developed as a single-tenant built-to-suit scheme for Nokia Networks under the name Nokia Skypark.