2026 Key Takeaways
Economy
Hungary’s recovery is gaining traction as household consumption strengthens, supported by stabilizing real wages and moderating inflation. GDP growth is projected to accelerate to 2.4% in 2026, with consumption as the dominant driver of economic momentum.
Investment
Hungary’s investment market showed signs of recovery in H1 2025, posting 55% year -on - year growth, with momentum strengthening further in H2. Full -year investment volume stands at €880 million, with one additional large transaction still in the pipeline that could lift total volume above €900 million. Activity has been supported primarily by seven large transactions, while smaller deals under €25 million continue to dominate by number.
Office
Budapest’s office market enters 2026 with limited new supply and a shrinking speculative pipeline, as development activity remains dominated by government-led BTS projects. With 83% of the 472,000 sq m under construction tied to BTS schemes and vacancy expected to rise, the current cycle clearly favours repositioning and repurposing existing assets to meet evolving occupier requirements.
Logistics
Hungary’s logistics market enters 2026 with solid momentum. Take-up increased sharply year-on-year, led by strong regional demand, while the renewal share fell to 31%, signaling growing tenant confidence and more expansion-driven activity.
Retail
Hungary’s retail market enters 2026 with modest development activity and a stable supply outlook. Retail park stock remained unchanged at 1.7 million sq m in 2025, though the pipeline is set to pick up, with 55,000 sq m planned through 2026.
Hotels
Budapest’s hotel market delivered strong results in the first three quarters of 2025, with RevPAR up over 4% year-over-year, driven primarily by higher occupancy. Robust topline performance is expected in 2027, supported by high-paying international clientele.
