Wizz Air Acquires Budapest Office Building
Budget airline Wizz Air has made a notable move by acquiring the office building it has been leasing at Millennium Tower I in Budapest. This acquisition is significant as it marks one of the largest owner-occupier real estate transactions in Hungary’s recent history, signaling a strong, long-term commitment to the Hungarian market.
Wizz Air’s Strategic Investment in Budapest
The airline will fully purchase the southern tower of Millennium Tower I, where it has rented office space for the last two years. This investment aims to create a headquarters that can grow with the company’s future needs.
Wizz Air has operated its international headquarters in Budapest for over two decades. The office serves as a vital hub for network operations, housing finance, accounting, and IT development divisions. Currently, several hundred software engineers work at this location, contributing to the airline’s digital advancement.
Details of the Property Acquisition
- Office Space: 8,200 square meters custom-fitted in Millennium Tower I.
- Building Completion: 2006.
- Total Area: 18,800 square meters.
- Parking: Approximately 270 spaces available.
- Occupancy: 87% as of November 2025.
- Annual Rental Income: About €3.1 million.
The recent announcement aligns with Wizz Air’s goal to enhance its infrastructure tailored for a technology-driven airline. The acquisition allows further expansion into its ongoing operations in the region.
Context of the Property Market
The seller, CA Immo from Vienna, is gradually exiting the Hungarian property market. This transaction, supported by Newmark VLK Hungary, is seen as a part of a broader strategic shift for CA Immo, as they realign investments away from what they classify as non-core markets.
Keegan Viscius, CEO of CA Immo, indicated that the company is focusing on other attractive investment opportunities. He emphasized that this sale is a step in their strategic capital rotation program.
Market Movement and Future Prospects
After a lull in market activity in 2023 and 2024, Budapest’s investment market is showing signs of revival. The successful completion of this transaction enhances confidence in the local real estate sector.
Wizz Air’s decision to invest in real estate rather than continue leasing points to their expectations of substantial long-term growth. The airline aims to solidify its role in Budapest as a business and technology hub, boosting its operational capabilities in response to rising demand in the industry.
As of September 30, 2025, CA Immo’s Hungarian portfolio comprised six office buildings with a combined lettable area of around 125,000 square meters, with a total book value of approximately €246 million, reinforcing the quality of its remaining assets in the region.
