Budapest

BudapestBudapest is the Capital city of Hungary and the country’s principal political, cultural, commercial, industrial and transportation centre. With its 1.7 million inhabitants it is the biggest and most densely populated city in the country. One in every five Hungarian citizens lives in Budapest, and over half of the nation’s GDP is generated here. The city itself lies on the banks of the Danube which divides it into 2 parts: Buda, dominated by hills and slopes, and the plain Pest.

Budapest is a city of diversity with many marks of different historical eras and is often mentioned as the Paris of the East, due to its beautiful architecture and tourist destinations.

Budapest is at the top of the retail hierarchy and has attracted a huge number of quality retail developments, including modern shopping centers, retail parks, and unique high street projects.

The capital is famous for its cultural and historical attractions as well as for the excellent food and quality wines.

Within the past 2-3 years with the strong improvement of the economical environment, a large number of new international retailers have appeared in the Hungarian market, including: GAP, Massimo Dutti, Michael Kors, Napapijri, Mohito, Desigual, Sketchers, Zara Home, etc.

 

 

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VÁCI STREET AND VÖRÖSMARTY SQUARE: 47.495516, 19.050722
ANDRÁSSY AVENUE: 47.504214, 19.061751
FASHION STREET: 47.496692, 19.052437
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VÁCI STREET AND VÖRÖSMARTY SQUARE


Váci utca is the main, busiest shopping street of Budapest, with c. 35-40,000 footfall on a daily basis. Most well known mass market retailers are present on the street, including ZARA, H&M, Mango, Promod, Douglas, Swarovski, Calzedonia, Reserved, New Yorker, Bershka, Stradivarius, etc. It is highly accessible by public transport and is pedestrianised.
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ANDRÁSSY AVENUE


Andrássy út is Budapest’s oldest avenue, has been a world heritage site since 2002 and is the main target for luxury retailers. Brands, such as Louis Vuitton, Burberry, Gucci, Emporio Armani, Hublot, S. T Dupont, Moncler, Baldanini, Nespresso, D&G are present on the avenue, in the vicinity of the National Opera House.
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FASHION STREET

Fashion Street is a unique, high street development, completed in 2008. The project, located between Andrássy út and Váci utca, is targeting middle to high-end brands. Hugo Boss, Furla, Tommy Hilfiger, Massimo Dutti, Starbucks, Lloyd shoes among other well known brands are all present on the prestigious street. The popular Inditex lingerie brand, Oysho is opening its flagship store here.

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Arena Plaza SC: 47.499474, 19.091274
WestEnd SC: 47.513778, 19.059230
MOM Park SC: 47.490592, 19.023972
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Arena Plaza SC


With its 65,000 sq m GLA Arena Plaza is one of the largest shopping centres in Hungary, which opened fully leased in November 2007. It has managed to bring numerous newcomers to the Hungarian retail market. Due to its size, unique tenant-mix and high visitor numbers Arena Plaza is one of the most attractive shopping centres in the country as it is able to draws customers from a wide catchment area, especially at the weekends.
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WestEnd SC


WestEnd is located in the city centre at one of the most important transportation junctions of Pest with metro, tram, train and exceptional car access. WestEnd offers a large variety of shops and due to its leasing activity in the past year several new fashion retailers opened their shops in the centre. An extension of c. 55,000 sq m is planned, although the timing is uncertain.
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MOM Park SC


MOM Park is an up market shopping centre, with 30,000 sq m retail space, ca. 100 retail units and 1,230 parking places. It is arranged on 3 trading levels offering restaurants, sport facilities, hotels, conference centers and other services in-site or in the immediate vicinity of the centre. The local well-to-do catchment market and loyal customer base has allowed the management to upgrade the tenant mix to reach the highest level in Hungary.

MARKET OVERVIEW
KEY AREASCONSUMER PROFILEMAJOR RETAILERS PRESENTNEW ENTRANTSTYPICAL RENT FOR UNIT OF 200 SQMRANGE OF UNIT SIZES
Váci utca (Budapest downtown)Tourists, local business densityH&M, Zara, C&A, Salamander, Humanic, Promod, Tezenis, Douglas, Mango, ReservedTiger, Pylones 80 €/sqm50-1,000 sqm
Vörösmarty sq. (Budapest downtown)Tourists, local business densityC&A, Pull & Bear, Bershka, StradivariusH&M80 €/sqm50-2,000 sqm
Andrássy út (Budapest downtown)Tourists, local business densityLouis Voutton, Burberry, Nespresso, Gucci, Zegna, Moncler, BoggiHögl, Il Bacio di Stile, Ligne Roset, Breitling50 €/sqm50-1,000 sqm
Arena Plaza SC Tourists, local business density, local shoppersPeek & Cloppenburg, Media Markt, Zara, H&M, Marks & Spencer, C&A, New Yorker, TescoMassimo Dutti, Michael Kors, Zara Home 60 €/sqm50-2,000 sqm
WestEnd SCTourists, local business density, local shoppersMango, H&M, Zara, Marks & Spencer, Springfield, C&A, Douglas, Salamander, New Yorker , Media MarktH&M Home, Massimo Dutti, Vapiano, GAP65 €/sqm50-2,000 sqm
MOM Park SCHigh end shopping center at the most affluent areaFurla, GANT, H&M, Douglas, Intimissimi, Promod, Benetton; Anchor size tenants are: C&A, Hervis, CCC, Alexandra, Vapiano RestaurantMax & Co, Coccinelle, Office Shoes35 €/sqm50-1,000 sqm

Data as of June 2016

Budapest offers a wide variety in the food & beverage sector, covering cafes/bars, fast food, as well as fine dining or full-service restaurants. Independent players dominate within nearly all food & beverage channels, with the exception of fast food and street stalls/kiosks. International brands represented in Budapest include Hard Rock Café, Vapiano, KFC, Starbucks and McDonald’s.

A good example of the gastro revolution in Budapest is the ‘Gozsdu Court’ which is located in downtown and is one of the most dynamically improving centres in Budapest. It is a meeting point that combines entertainment and gastronomy. The Courtyard makes room for countless places, representing many styles and kitchens. It attracts more than 900,000 visitors per annum; due to its cosmopolitan nature it has become extremely popular between both the residents of Budapest and the tourists.

Fast food is also an important segment of restaurants, a large number of international companies have entered the Hungarian market recently, furthermore many new local chains have been established.

Many abandoned buildings and flats in Budapest have been converted into low-key clubs with little more than discarded furniture and artistic creativity, these are the so-called “ruin pubs” which are very specific to Hungary. Ruin pubs are now a major attraction within the city, with some of them frequented more by foreigners than locals. Ruin Pubs certainly represent a new wave of entertainment in Budapest. The trend started about 10 years ago and now it’s become a tourist sight especially for young groups of people (mainly from North Europe, UK and CEE region, organizing bachelor, and bachelorette parties at such locations).


MARKET OVERVIEW
KEY AREASCONSUMER PROFILEFOOD & BEVERAGE OPERATOR INCLUDINGRENT FOR 350 SQM UNIT
Gozsdu Court and Király utca Tourists, local business density, local residential populationSpíler, DiVino, Kolor, Café Vian, Pad Thai, Pointer Pub€40/sqm/month
Kazinczy utcaTourists, local business density, local residential populationSzimpla Kert, Ellátó Kert, Kolevels kert€15/sqm/month
Andrássy útTourists, local business densityKlassz, Pizza Eataliano, Ring Café, Da Pippo, Callas, Ciao Ciao Pizza, Hachapuri, The Big Fish€35/sqm/month
Liszt Ferenc térTourists, local business densityMenza, Karma, Tortuga, Café Vian, Hooters€30/sqm/month

Data as of June 2016


Budapest Contacts

VIKTORIA SZABO

Partner, Head of Retail Services
Cushman and Wakefield Kft.
15 Deák Ferenc utca
Budapest H-1052
Tel: +36 1 268 1288
Mob: +36 30 2448 237