Tenants’ Green Office Leasing Trends: an Exploratory Study of Budapest, Hungary

Abstract

Similarly to the international trends, tenant interest in green-certified office buildings has grown dramatically in Budapest in the past decade. By investigating the types of tenants who opt to lease office space in green-certified buildings in the Hungarian capital, this study aims to close a research gap. With using a mixed research method, results show that most of the green-certified office leasing transactions in Budapest between 2018-2022 were signed by tenants from IT, governmental and banking & finance sectors. Main reasons behind leasing green space are reputation, employee well-being and in the case of multinational companies, sustainability requirements from the parent company.