Hungary

The effects of the global recession and the financial crisis are increasingly being felt in the industrial market. Market players were expecting a slowdown in the market, with several companies cutting their production during the last quarter of 2008, which resulted in a decrease in orders for the logistics sector. Such a drastic downturn has never been witnessed in the Hungarian industrial market. Take-up now reflects that of Q1 2006. Paralleled with the highest completion rate it has resulted in a serious imbalance in the market. Due to the massive supply and the disproportionately weak demand, the vacancy level reached its peak and now stands around the same level of the 2000-2001 figures.