Budapest, July 29, 2025 – The Hungarian office market stands at the threshold of a new era: economic
challenges, changing work habits, and the need to adapt to urban environmentsare all setting new directions for developers, investors, and tenants alike. The RICS membership discussed the future of the domestic office market at a joint professional event, where not only numbers and trends were discussed but also human factors – such as community, livability, and sustainability – which were given significant attention. The discussion clearly revealed that the office is no longer just a workplace but an integral part of urban life and corporate culture.
The RICS Hungarian membership held a joint professional exchange about the future, challenges, and opportunities of the Hungarian office market. Experts agreed that the office is no longer just a place for work, but also one of the most important areas for corporate culture and community-building.
“The role of the office is to integrate into the city, not to alienate itself from it. The goal of modern offices is not to build dominant skyscrapers, but to be open to the urban environment and provide employees with the opportunity for flexible work arrangements, such as half-day home office options.”
–said Norbert Schőmer, President of RICS Hungary.
At the event, the results of a comprehensive survey conducted by the independent market research institute NRC among decision-makers of tenants in office buildings managed by ICON Real Estate Management were professionally analyzed.
“The key to employee satisfaction today is not making the office as comfortable as home, but making it even better. Nearby services, quality dining options – such as a well-functioning canteen – all contribute to people being happy to go to the office. The office’s role in community-building is thus becoming more and more prominent.”
–said Zsolt Kákosy, FRICS, Director of Property Management at ICON Real Estate.
The RICS experts agreed that the office of the future is multifunctional. Based on international examples, mixed-use buildings – which serve as offices, hotels, or even wellness centers – represent a higher value. Converting the functions of existing buildings, particularly through mechanical upgrades, can not only be more sustainable but also more cost-effective.
In the Hungarian office market, location remains a decisive factor: only offices in the best locations can remain popular in the long term. Another peculiarity of the domestic market is that, contrary to Western European trends, the number of parking spaces in new projects is still increasing – indicating that the local market is moving at its own pace. Overall, it can be said that there are few new developments in the current market environment.
“However, this also creates opportunities: unused office spaces may slowly be absorbed as companies search for new locations. The question is, will there be a brave developer who will start a new project now, aiming to complete it by 2028 – right when demand might rebound?”
– said Pál Szilvási, Vice President of the Real Estate Developers’ Roundtable Association (IFK).
Thus, the office market is changing. The question is, who will be forward-thinking enough to start building the office of the future now?
