For a long time so many properties have not changed hands in Hungary as in 2016

By the end of this year there is expected to be 140-160 thousand property sales concluded and around 10 thousand new homes finished.

To date, his year about 60-70 thousand residential properties have changed hands across the country - was revealed by the latest Land Registry analysis. These numbers clearly represent a positive turn, as between 2009 and 2013, the annual number of transactions barely reached 90 thousand. This index started to increase again in 2014, and by the end of the year exceeded 110 thousand.

While in 2004 nearly 44 thousand new housing units were handed over in Hungary, in 2015 were only built 7612 residential properties, of which 1929 were in the capital. The first half of this year, 3,400 new homes were built nationwide. In addition, this year more than 13 thousand building permits were issued, much more than last year. In Budapest the number of building permits jumped particularly in the last half of last year. Furthermore, in the first half of 2017 a mass emergence of newly built homes is expected in the capital's real estate market.

A rather significant number of existing properties is sold in Budapest for 10-25 million forints, the average size is 30-60 square meters, while in rural areas the average property price is HUF 11 million in the first half of 2016. Newly built properties this year have been sold in the capital from HUF 20 to 40 million but even a higher price is not uncommon.

If you would like to have a character, luxury or new home in Hungary where many international cultural and business events take place or looking for an excellent investment opportunity with a great rental income possibility, take a look at our website www.ecsmproperty.uk.com for some carefully selected Hungarian properties. Beyond this, we have an extensive database of Hungarian properties and our multilingual team is on hand to provide you further property information, guidance about the buying process, legal aspects of owning a property in Hungary, taking up the residency, applying for a mortgage or even translation.

14 Sep 2016

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