{"id":4232,"date":"2026-04-12T14:40:06","date_gmt":"2026-04-12T12:40:06","guid":{"rendered":"https:\/\/iconrem.hu\/?p=4232"},"modified":"2026-04-12T15:42:48","modified_gmt":"2026-04-12T13:42:48","slug":"to-relocate-or-renew-how-are-tenants-thinking-today","status":"publish","type":"post","link":"https:\/\/iconrem.hu\/en\/news\/to-relocate-or-renew-how-are-tenants-thinking-today\/","title":{"rendered":"To Relocate or Renew? \u2013 How Are Tenants Thinking Today?"},"content":{"rendered":"\n<p><em><a><em>Budapest, October 8, 2024  <\/em><\/a><\/em>&#8211;<strong> Are Hungarian office tenants planning to relocate? How has hybrid work changed employee expectations? What challenges arise from generational differences in the workplace? And how important are ESG considerations for tenants today? These were the key questions addressed by guest speakers Valter Kalaus, MRICS, Managing Partner at Newmark VLK, and G\u00e1bor Babus, Real Estate and Construction Law Leader at Deloitte Legal G\u00f6nd\u00f6cz and Partners, during the first autumn session of the AmCham Workspace and Facilities Management (WFM) Committee.<br><\/strong><\/p>\n\n\n<p>In his opening remarks, <strong>Zsolt K\u00e1kosy, MBA MRICS<\/strong>, Senior Director at <strong>ICON Real Estate Management<\/strong> and Chair of the <strong>AmCham WFM Committee<\/strong>, emphasized that <strong>14% of Budapest&#8217;s 4.4 million square meters of office space currently remains vacant<\/strong>. The trend of increasing vacancy may slow down, as few new office buildings have been built in recent years, and even fewer are currently under construction. This means that <strong>high-quality locations are gaining in value<\/strong>, and there is already a line forming for <strong>modern, well-located office spaces with extensive services<\/strong>.<\/p>\n<p>The M76 is a visionary investment that, thanks to its mixed use, can flexibly adapt to urban lifestyles \u2013 as highlighted at the professional event introducing the development.<\/p>\n<blockquote>\n<p>\u201cThe market is in a strange state. The crisis brought on by Covid is over, but its aftereffects remain with us. We\u2019re seeing new shifts in international trends. For example, while Amazon\u2019s move to call employees back to the office hasn\u2019t yet reached our region, it will likely impact local work culture in the medium term,\u201d<\/p>\n<\/blockquote>\n<p><strong>\u2013said Valter Kalaus.<\/strong><\/p>\n<p>All three experts agreed that <strong>as long as labor shortages persist, employees are in control<\/strong>. A whole generation that started working just a few years ago has <strong>barely set foot in the office<\/strong>, whereas older generations often <strong>don\u2019t understand why office presence is no longer mandatory<\/strong>. Since most companies now operate with multiple generations working together, it&#8217;s increasingly difficult for tenants, landlords, and facility managers to <strong>reconcile these differing expectations<\/strong>.<\/p>\n<blockquote>\n<p>\u201cThe solution? We need to offer something new, something different to entice people back. We have to create work environments employees genuinely want to return to. Today\u2019s modern office must <strong>rival the comfort of a living room, the style of a hotel lobby, or the vibe of a caf\u00e9<\/strong>. That\u2019s what the younger generation is used to\u2014where they felt good, where they worked for years\u2014and now we need to <strong>win them back from that environment<\/strong>,\u201d<\/p>\n<\/blockquote>\n<p><strong>\u2013stressed Valter Kalaus.<\/strong><\/p>\n<p><strong>G\u00e1bor Babus<\/strong> also pointed out that while <strong>employees value employer branding and extra services provided by office buildings<\/strong>, <strong>tenants are focused on cost-efficiency<\/strong>. And today\u2019s market conditions are <strong>not ideal for relocations<\/strong>.<\/p>\n<blockquote>\n<p>\u201c80% of current new contracts are about staying put\u2014either lease renewals or extensions. But this doesn\u2019t mean companies lack the funds to move or upgrade; most are simply waiting due to market uncertainty. That\u2019s exactly why businesses <strong>shouldn\u2019t be afraid of relocating now<\/strong>\u2014those willing to act can <strong>secure excellent conditions<\/strong>,\u201d<\/p>\n<\/blockquote>\n<p><strong>\u2013emphasized G\u00e1bor Babus.<\/strong><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budapest, October 8, 2024 &#8211; Are Hungarian office tenants planning to relocate? How has hybrid work changed employee expectations? What challenges arise from generational differences in the workplace? And how important are ESG considerations for tenants today? These were the key questions addressed by guest speakers Valter Kalaus, MRICS, Managing Partner at Newmark VLK, and [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-4232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>To Relocate or Renew? \u2013 How Are Tenants Thinking Today? - ICON - Real Estate Management<\/title>\n<meta name=\"description\" content=\"To Relocate or Renew? \u2013 How Are Tenants Thinking Today?\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/iconrem.hu\/en\/news\/to-relocate-or-renew-how-are-tenants-thinking-today\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_US\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"To Relocate or Renew? 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