Warehouse market hotting up around Budapest

Total demand came to 103,790 sqm in Q1 2018, up by 45 pct y-o-y. Lease renewals accounted for 72.7 pct of the quarterly volume, while the share of new leases was 21.8 pct. Expansions took up 5.5 pct of the quarterly volume. No pre-lease agreements were signed but24 leasing transactions were recorded, of which two agreements were signed for more than 10,000 sqm. The average transaction size was 4,320 sqm, one and a half times the average level of the previous five years’ first quarters. The