According to Colliers International’s EMEA Industrial & Logistics Hubs report, demand for industrial and warehouse property rose in 50% of EMEA markets in 1H 2018, up from 35% in 2H 2017, driven by positive occupier sentiment, and despite challenges in the overall economy such as protectionism fears and trade tensions between the US and close trading partners in the EU.
JLL's industrial real estate portfolio is expanded with the warehouse development called DOCK, owned by Dock Ingatlan Kft., in the Csepel Free Port area. Following the real estate development in the 3.5 hectare area, a total of 15,000 square meters will be available for rentable warehouse space. Additionally, as a further development potential the owners also highlighted the area of 80,000 square meters located on the Northern part of the Free Port.
Although nearly 120,000 square meters of new industrial / logistics space was delivered in 2017 - almost the double of the figure delivered in 2016 - it may still occur that by the end of the year the available warehouse units with 5,000 square meters space will disappear from the Budapest market and its surrounding area, according to Colliers International's latest industrial property market report.
In the first six months of 2017 properties of about 49 thousand square metres were handed over, which is twice as much as the volume of handovers in the same period last year.
The industrial real estate market in Hungary hit the vacancy rate of 5.5% in the first half of 2017, which is record low, since it is measured by the Budapest Research Forum (BIEF, BRF).
