What is the average Class A rent in Budapest?

Around 264 EUR/sqft/yr ($288 USD) across the broader Class A index. Trophy submarkets like Belváros / Lipótváros command 20–40% above that.

How many months of rent-free are normal in Budapest?

8 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Budapest?

The Budapest Class A market is currently flat. Vacancy is 12.4%, which sets the negotiating context.

Headline Class A rent in Budapest is around 264 EUR/sqft/yr ($288 USD), with 8 months of typical rent-free on a 5-year term.

Headline Class A rent: 264 EUR/sqft/yr ($288 USD).
Trophy submarket rents (Belváros / Lipótváros) push to roughly €312/sqm/yr · ≈ $31.3 PSF/yr USD.
Typical concessions on a 5-year deal: 8 months free rent.
Vacancy stands at 12.4% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Budapest Class A office rents and incentives

Headline Class A rent in Budapest is around 264 EUR/sqft/yr ($288 USD), with 8 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 264 EUR/sqft/yr ($288 USD).
Trophy submarket rents (Belváros / Lipótváros) push to roughly €312/sqm/yr · ≈ $31.3 PSF/yr USD.
Typical concessions on a 5-year deal: 8 months free rent.
Vacancy stands at 12.4% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Budapest are quoted in EUR per sqft per year. Across the broad Class A index the figure is 264, but the trophy tier in Belváros / Lipótváros reaches roughly €312/sqm/yr · ≈ $31.3 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Budapest concessions on a 5-year Class A lease run to 8 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Hungarian corporate tax of 9% — lowest in the EU. Local business tax of 2% (HIPA). 27% VAT (highest in the EU).

Where rents land by submarket

Belváros / Lipótváros sits at the top end (~€312/sqm/yr · ≈ $31.3 PSF/yr USD). Pasarét / Buda Hills clears around €264/sqm/yr · ≈ $26.5 PSF/yr USD as the prime tier. The full submarket map is on the Budapest city page.

Key facts

city	Budapest
country	Hungary
region	EMEA
classARentLocal	264 EUR/sqft/yr
classARentUsd	$288/sqft/yr
vacancy	12.4%
typicalLeaseYears	5
typicalRentFreeMonths	8
submarkets	5
primeYieldPct	6.4%
trophyRent	€312/sqm/yr · ≈ $31.3 PSF/yr USD
primeRent	€264/sqm/yr · ≈ $26.5 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Budapest?: Around 264 EUR/sqft/yr ($288 USD) across the broader Class A index. Trophy submarkets like Belváros / Lipótváros command 20–40% above that.
How many months of rent-free are normal in Budapest?: 8 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Budapest?: The Budapest Class A market is currently flat. Vacancy is 12.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction