"Demand for offices located near Moszkva tér is heightening despite the huge number of office developments in other parts of the capital that are more in the spotlight.Experts of Eston International Property Advisor were examining the possibilities offered by the most frequented hub of the Buda side.
Moszkva tér and its neighbouring streets are lacking office space; there is a wider range of prospective tenants than of available areas. Office buildings of the region operate with very low vacancy rates. The newly completed houses get occupied within a short period of time, typically reach 70-80% occupancy within months on delivery according to Eston’s statistics.
While older buildings also get new tenants easily for their spaces freed up by moving. One of Eston’s exclusive assignments, MBC office building, is a good example. Its space was filled up within a couple of weeks after its largest tenant had moved out on expiry of its three-year lease agreement.
Several companies started negotiations for the available space immediately. Finally, two educational institutions, for whom excellent public transport connection is a must, opted for the building: International House (one of Budapest’s biggest language schools) and the Germany-based DEKRA Akademie. Eston’s experts believe that their decision was supported not only by the exceptional transportation connection, but by the quality of the building and the highly developed infrastructure of the area.
There are only two factors that can temper the region’s charm: parking is difficult nearby and the office buildings here offer only smaller floor levels; 300-800 sqm is the typical floor size. If a tenant requires bigger floors, they shall keep their eyes open to hit those larger office areas becoming free due to tenant movements, for example that of Margit House with 1000 sqm floors to be available from November 2007."
Further information from the source:
Eston International Zrt.
05.10.2007