Wizz Air buys its Budapest office building

Budget airline Wizz Air has announced it is purchasing the Budapest office building where it has leased space for the past two years, marking one of Hungary’s largest owner-occupier property transactions in recent times and signalling long-term confidence in the Hungarian market.

The airline will acquire the entire Millennium Tower I southern tower, where it currently rents office space, with the aim of establishing an expandable, fully owned headquarters in Budapest. The deal represents a strategic shift for the carrier, which has operated its international headquarters from Hungary for more than 22 years.

Strategic investment in technology hub

Wizz Air’s Budapest base serves as the nerve centre for its entire network operations and houses its finance, accounting, and IT development divisions. Several hundred software engineers work in the Hungarian capital developing and innovating the airline’s digital systems.

The company had 8,200 square metres of office space custom-fitted in Millennium Tower I during the second quarter of 2024. The building purchase will enable further expansion, according to the airline’s statement released on Monday.

“The acquisition of the office building allows Wizz Air to expand further,” the company said, adding that its goal is to build infrastructure suited to the needs of a technology- and innovation-driven airline.

CA Immo exits Hungarian market

The seller, Vienna-based CA Immo, announced the sale as another step in its gradual withdrawal from the Hungarian property market. The transaction was facilitated by Newmark VLK Hungary, which provided strategic advisory services, technical due diligence, negotiation support, and comprehensive tenant representation.

According to Newmark VLK, the deal represents one of the largest recent owner-occupier office transactions in Hungary and signals long-term confidence in the domestic market.

The 18,800-square-metre office building, completed in 2006, forms part of the Millennium Towers office park situated along the Danube banks and surrounded by green parkland. The property offers approximately 270 parking spaces and was 87 per cent occupied as of November 2025, with a weighted average unexpired lease term (WAULT) of seven years and annualised in-place gross rental income of around €3.1 million.

Part of strategic portfolio shift

Keegan Viscius, CEO of CA Immo, explained the rationale behind the sale: “Based on market fundamentals and attractive alternative capital allocation options, we decided to reclassify Hungary to a non-core market in 2023. This transaction is a further step in implementing our strategic capital rotation programme and on the way to exiting the Hungarian market.”