Colliers: investor activity expected to increase in the Hungarian commercial real estate market this year

They added that the outlook for investment volume is also more positive this year compared to 2024.

The first of the individual sectors to be analyzed was the office market, in which, according to Colliers, the largest movements were related to the relocation of state and government offices in 2024. Contract extensions dominated among the transactions, accounting for almost 60 percent of the total rental volume, while the volume of new lease contracts fell by 20 percent compared to the previous year.

The total office stock in Budapest increased to 4.456 million square meters, the average vacancy rate reached 14.1 percent, and the speculative vacancy rate reached 17.5 percent; the increase in vacancy rates may peak in 2025.

According to Colliers, in addition to all this, it is important that stable demand can be seen in the office market, as tenants are again thinking about maintaining and even expanding their areas after rethinking and optimizing office spaces.

According to the statement, the total stock of the industrial real estate market exceeded 5.5 million square meters in 2024, of which 3.7 million square meters are available in Budapest and 1.8 million square meters in the countryside.

According to their current knowledge, an additional 587,300 square meters of new industrial property will come on the market by 2026, 43 percent of which has already been pre-leased. The vacancy rate in Budapest decreased to 7.9 percent, while in the countryside it increased slightly and reached 6.8 percent. All this indicates that the market is performing well, and the demand for logistics and industrial properties remains high.

It was emphasized that Hungary is attractive in the Central and Eastern European region. The transport corridors attract people, and Asian logistics and manufacturing companies are also paying increasing attention to it.