The vacancy rate on Budapestʼs industrial property market dropped 0.4 percentage points from three months earlier to a record low of 5.5% at the end of the second quarter, the Budapest Property Consultants Coordination Forum (BIEF) said on Friday, Hungarian news agency MTI reported.

Futureal Group has started construction of the Corvin 5 office building in Budapest, according to a press release sent to the Budapest Business Journal today. The first phase of the building, equipped with the latest environmentally friendly technologies, is expected to be delivered by the end of 2018.

Váci 1, the neoclassicist palace rejuvenated by Horizon Development last year, was awarded with a World Gold in heritage restoration and a World Silver (Best in Europe) in retail development at the 25th FIABCI World Prix d’Excellence Awards, according to a press release sent to the Budapest Business Journal today.

Gateway Office Park, an office complex comprising three towers, is currently being renovated, and works are scheduled to be finished by the first quarter of next year at the latest, according to a press release sent to the Budapest Business Journal by real estate firm CPI Hungary.

Real estate developer Redwood Real Estate Holding has recently started construction on a speculative basis of the 5,000 square-meter, A+ category, LEED Platinum pre-certified Ecodome office building in the heart of Buda, according to a press release sent to the Budapest Business Journal by Cushman & Wakefield, representing the landlord.

The Zsiráf (Giraffe) Terrace has once again opened in the park in front of the Eiffel Square Office Building, beside a pond with waterfalls, offering an event calendar for the summer full of regular exhibitions, fine art fairs, Sunday markets, acoustic concerts and DJ performances, according to a press release sent to the Budapest Business Journal.

The best way to wind-down after a long, tiresome week is to go out and enjoy what nature has to offer, but if you only have one or two hours at your disposition, fear not: welovebudapest.com has collected the best places in the city where you can enjoy the great sights of the capital and you can have a refreshing meal as well.

There are many tendencies on the Hungarian real estate market that mirror those in the US. Forbes.hu has investigated the Hungarian relevance of Zillow Talk: The New Rules of Real Estate, a book examining the American real estate market, and found many similarities between the two countries.

Hungarian property investors appear to be optimistic about the market’s future this year, expecting an all-time high investment volume, according to an international survey by commercial real estate services firm CBRE that also covers local investors, a press release sent to the Budapest Business Journal reveals.

In recent years, real estate transactions in Hungary have accelerated greatly as the housing market steadily continues to rise, especially in the country’s capital, says DLA Piper Hungary.