office market 2013 - Cushman & Wakefield

office market 2013

Office Building High Rise
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According to the data published by the Budapest Research Forum (BRF), C&W concluded 57 transactions, with an average deal size of circa 1,500 sq m. Compared to 2012 C&W increased their market share by an additional 8%.

Gergely Pados, Managing Partner at C&W Budapest commented: “It is a great achievement from the Office Agency team to be involved in so many transactions on the market as they have clearly established as the agency of choice for many of our key landlord and occupier clients in Budapest and the region.  We are optimistic that with the increased interest and activity from international occupiers we will continue to see slow but steady improvement in the office sector in 2014 as well.  We anticipate that vacancy rates will follow the trend started in 2013 and continue to slowly decline which is supported not only with the increased activity but also with the highly limited speculative developments”.

David M Johnston MRICS, Head of Office Agency at C&W Budapest commented: ‘’The performance of the team for 2013 was nothing short of fantastic. We are extremely proud of our track record, which is more impressive given the challenging economic conditions. Much of our work was repeat work from clients, which is testament to the trust they put in C&W – and something we hope to continue providing for the foreseeable future.’’

Besides other notable transactions the agents of C&W were involved in the biggest deal of the market in 2013, Exxon Mobile’s over 18,500 sq m office lease renewal while they also contributed to more than 26,000 sq m new transactions Budapest wide.