The economic and spatial characteristics of the Hungarian office market : an SCP paradigm analysis with special focus on green activity

Huszár, Barbara Eszter and Banai, Ádám and Kovács, Norbert (2025) The economic and spatial characteristics of the Hungarian office market : an SCP paradigm analysis with special focus on green activity. HUNGARIAN STATISTICAL REVIEW, 8 (1). pp. 3-30. ISSN 2630-9130

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Abstract

This paper examines the structure and performance of the Budapest office market, with special focuson the green office building segment, as previously no such research was conducted. A so-calledstructure, conduct, and performance (SCP) paradigm typed analysis was conducted on 915 leasingtransactions. Results showed that micro companies signed 41% of leasing contracts, with largecorporations signing the highest volume. The green office market in Hungary expanded gradually,with 59% of the 915 transactions recorded in green-certified buildings. Micro companies signed 34%of the total number of green-certified transactions, followed by both large and small companies.Large corporations were responsible for 49% of office leasing transactions executed in greencertified buildings. The Hungarian office market was predominantly occupied by import-orientedcompanies, with 70% of transactions focused on imports and 30% on exports. There are somesubmarkets that are more popular among occupants, therefore the Hungarian office market can becategorized into clusters.

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