In Q4 2021, five buildings with 166,350 sq m of new space were  added  to  the  Greater  Budapest  modern  industrial stock. Three buildings were handed over in the CTParks (Budapest  Airport  &  Budapest  East),  one  building  in HelloParks  Maglód  and  another  in  GLP  Sziget  Logistics Centre in Szigetszentmiklós.
The total modern industrial stock stood at 2,733,870 sq m at the end of the fourth quarter.

Total  demand  amounted  to  237,475  sq  m  in  Q4  2021, indicating  a  115%  increase  on  the  volume  measured  in the  corresponding  period  of  the  previous  year  and making  2021  a  record  year  in  total  demand.  Take  up excluding renewals added up to 173,960 sq m, which also marks  a  remarkable,  170%  increase  compared  to  the  same period  of  the  previous  year.  Pre‐leases  (incl.  BTS  buildings) dominated  the  demand  with  a  share  of  49%,  while renewals  on  existing  premises  accounted  for  27%  and new  leases  within  the  existing  stock  reached  24%.  The share of expansions ended up below 1%.  
32 leasing transactions were recorded in Q4 2021 with an average transaction size of 7,450 sq m – five of them were signed for more than 10,000 sq m. The majority of leases were  still  signed  in  big‐box  logistics  parks,  as  the  city‐ logistics stock registered only three agreements. The  largest  transactions  during  the  quarter  were  pre‐ leases:  one  for  62,985  sq  m  VGP  Park  BUD  Aerozone
building  and  the  other  33,110  sq  m  deal  was  signed  in Inpark Páty.

The vacancy rate at the end of Q4 2021 stood at 3.2%, showing a 0.3 percentage point decrease q‐o‐q and a 1.2 percentage point increase y‐o‐y. At the end of the fourth quarter, a total of 86,760 sq m logistics area stood vacant, and  there  are  four  existing  schemes  which  have availability of more than 5,000 sq m.  
Net absorption during Q4 amounted to 169,300 sq m.

The  members  of  BRF  continue  to  survey  the  industrial speculative real estate stock outside of Greater Budapest. We have currently identified 117 buildings, representing 1,210,940  sq  m.  The  size  of  the  identified  vacant  areas outside  the  capital  city  agglomeration  is  79,130  sq  m, resulting  in  a  vacancy  rate  of  6.5%.  Total  registered leasing demand during 2021 was 103,000 sq m.