Due to declining political uncertainty, reduced country risk and favorable financing conditions, the commercial real estate market is expected to gradually recover over the next 12–24 months.
According to international consultancy Colliers, the volume of commercial real estate investment amounted to EUR 610 million in the first half of 2026. This represents an increase of 26.5% compared with the previous year and the strongest performance since 2021. Given the transactions currently underway, the total volume for the year is expected to exceed EUR 1.2 billion.
Just under three-quarters of the transaction volume was accounted for by Hungarian buyers. The office segment led with a 38% share, followed by retail (33%) and industrial and logistics properties (18.5%).
Total transaction volume in the commercial real estate market across the CEE-6 region reached EUR 5.8 billion in the first six months of the year. This development points to a clear return of investor confidence. Hungary ranked third in the regional comparison, behind Poland with EUR 3 billion and the Czech Republic with EUR 1.4 billion.
Investors are focusing on properties with stable income potential and long-term competitiveness. The Budapest office market is showing signs of consolidation, with the rise in vacancy rates coming to a halt. The capital’s stock of modern office space grew by just 1% year-on-year to 4.47 million square meters. The average vacancy rate fell to 12.2%. Leasing activity amounted to 215,050 m² (+1%).
In the logistics sector, the stock of space in Budapest increased to 4.18 million square meters, while the stock outside the capital reached 2.33 million square meters. The vacancy rate rose to 14.8% in Budapest and 10.5% outside the capital.