Hungary continues to experience strong demand for commercial real estate, according to a report published by Colliers International. The number of new prime location offices occupied during the first six months of the year peaked at 97,400 sq. metres in late June.

It also appears as though there was even stronger demand for industrial space, with 188,000 sq. metres leased during the same period.

Michael Smithing, who serves as the managing director of Colliers’ Hungarian operations, pointed out that developers and investors will have to take into account the current supply and demand trends when it comes to new commercial real estate.

If demand continues to be somewhat higher than supply, Hungary has a very good chance of getting through the current period of uncertainty.

The Colliers report found that in some ways, Hungary is well positioned to weather the current economic storm, and the continued demand for commercial real estate is only part of the picture. The retail sector of the economy, for example, has witnessed a rise in overall spending.

The key to those looking to invest in commercial real estate, however, is to be certain to examine the quality of the building being constructed, the facilities offered and the location. For example, in the Budapest area it is crucially important that commercial properties have adequate on-site parking, as space for vehicles in the city’s centre is difficult to find and office buildings without such amenities are far more challenging to lease.