Cushman & Wakefield, Hungary’s market leading real estate advisor has successfully closed multiple land transactions in the past 12 months by this staying ahead of its competitors. The company transacted over 380,000 sq m of good quality industrial development land in the southern M0 sector in Gyál and Dunaharaszti.
The buyers in each case are international companies with plans to utilise the plots for industrial or logistics purposes. Developers and end-users equally continue to seek well-located, shaped and priced industrial development sites in Budapest and its vicinity. We expect developers initially to utilise their existing land banks for speculative and BTS projects until capacities are available and rents stabilise.
Gábor Halász- Csatári, Associate, Head of Industrial Agency at Cushman & Wakefield Budapest said: “Our team is delighted to have been an active contributor to the development of the Hungarian industrial market through its comprehensive assistance in these transactions. The total developable building potential on the sites sold is over 150,000 sq m which, when completed, would expand the Budapest industrial stock by nearly 10%. I truly believe this is a great achievement and we look forward to further transactions in the pipeline as our clients continue to capitalize our expertise and extensive market knowledge. Given the record low (cc. 3%) vacancy rate and the continuous demand from tenants for good quality industrial space we expect further growth of the market through speculative and BTS transactions.”
Cushman & Wakefield’s Hungarian industrial team has transacted over 37,000 sq m of newly leased space in 2017, which is over 45% of the total tracked agency conducted new lease transactions on the Budapest market. The team was also highly involved in other transactions: responsible for over 25 % of all agency deals (expansions and renewals included) in Budapest.