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BUDAPEST SEES INCREASE IN VACANT PREMISES

 

The number of vacant commercial properties in Budapest increased in the second half of the year, with many permanent closures — mainly restaurants or entertainment venues — due to the pandemic, business daily Világgazdaság said. There are 15-20% more vacant retail spaces in the capital than a year ago and there has been a 20-25% increase downtown, the paper said, quoting kiberelem.hu data. But just as with the housing market, retail properties are expected to start making a recovery in 2021.