At the end of Q4 2025, the total modern industrial stock in Hungary amounted to 6,132,195 sq m. In Greater Budapest, the modern industrial stock exceeded 4 million sq m, reaching 4,082,455 sq m, while the stock in Regional Hungary totaled 2,049,740 sq m.
In the fourth quarter of 2025, a significant amount of new speculative industrial and logistics space was completed in Greater Budapest, therefore the total stock increased by 161,605 sq m across seven logistics schemes. The largest hall delivered during the quarter was the first phase of CTPark Budapest Érd, comprising 53,000 sq m.
In the regional markets, a total of 46,800 sq m of new industrial space was completed in four schemes, three of which are located in Kecskemét. Altogether, the new deliveries increased the national industrial stock by 208,405 sq m.
The vacancy rate in Greater Budapest decreased to 12.8% in Q4 2025, reflecting a 0.3 pps decrease quarter-on-quarter. At the end of the quarter, a total of 521,480 sq m of logistics space was vacant in Greater Budapest. Outside the capital, vacant areas reached 177,055 sq m, corresponding to a vacancy rate of 8.6%. The nationwide vacancy rate stood at 11.4% at the end of Q4 2025.
Total demand in Greater Budapest amounted to 261,595 sq m in Q4 2025, while the total annual demand reached 667,490 sq m in 2025, an increase of 9% year-on-year. Through the fourth quarter of 2025, net take-up excluding renewals equaled to 201,700 sq m, reflecting 77% of the total demand.
In Q4 2025, pre-leases accounted for the largest share of total leasing activity at 35%, while lease renewals represented 23%. Expansions made up 19%, and new leases comprised 24% of total activity in Greater Budapest.
The largest transaction of the quarter was a 80,230 sq m pre-lease in CTPark Budapest Érd. In the regional markets, the major transactions included a 24,900 sq m lease renewal in Miskolc and a 24,000 sq m pre-lease in Panattoni Park Moson.
In the fourth quarter of 2025, 42 leasing transactions were registered in Greater Budapest, with an average transaction size of 6,230 sq m, reflecting a 5% increase year-on-year, while on an annual basis it remained stable. Regarding the number of transactions, a 10% annual increase was recorded in Greater Budapest in 2025. In line with trends observed in previous years, majority of leases continued to be concluded in big-box logistics parks.
In Q4 2025, net absorption in Greater Budapest remained positive, totaling 155,150 sq m. In the regional markets, net absorption also was positive (53,880 sq m), therefore at the national level, the overall figure amounted to 209,030 sq m.
BRF
