FM newsroom – office market trends. As Hungary’s office market reaches a critical juncture, experts from RICS Hungary emphasise the need for a new approach to urban integration, work culture, and real estate development. Without decisive steps, the sector may face serious challenges.
A New Era for the Hungarian Office Market
Hungary’s office market is standing at the edge of transformation. In a recent professional roundtable, RICS Hungary members highlighted that shifting economic conditions, changing work habits, and the need to adapt to the urban environment are reshaping how developers, investors, and tenants approach office space.
The Office as a Cultural Hub – Not Just a Workplace
Today, the office is more than a place to work — it’s a hub for company culture and community.
“The goal of modern office design is not to dominate the skyline with skyscrapers, but to create spaces that are open to the city and offer flexibility, such as hybrid working models with half-days at home,”- Norbert Schőmer, President of RICS Hungary, told MMOnline.
Amenities and urban integration matter more than ever. Employees no longer want offices that are merely as good as home — they want something better. Quality food options, nearby services, and well-functioning canteens all play a role in making the office an attractive destination.
Mixed-Use Is the Future
Experts agree: the future of offices isn’t single-purpose. International examples show that mixed-use buildings — serving as office, hotel, or even wellness centres — are more valuable and resilient. Retrofitting existing buildings, primarily by upgrading mechanical systems, can make projects both more sustainable and more cost-effective.
Location Is Still King
In Hungary, location remains a decisive factor. Only the best-located offices maintain long-term appeal. Interestingly, unlike Western Europe, Hungary still sees an increase in parking spaces for new projects — a sign that the local market follows its own rhythm.
New developments are currently scarce, but that may not be a disadvantage. Underutilised office space could slowly be absorbed as companies look to relocate or upgrade.
As Pál Szilvási, Vice President of the Real Estate Developers Roundtable Association (IFK), noted:
“The real question is whether there will be a brave enough developer to start a project now — one that could be completed by 2028, just in time for demand to rebound.”