REAL ESTATE MARKET CONTINUES TO FLOURISH IN BUDAPEST

Demand has increased for rural homes, more and more people are buying properties in rural big cities as an investment.

Hungarian housing market is still flourishing, regarding prices, demand, and sales. According to official data in the first half of the year more than 55 thousand residential properties changed hands, which means a 5 percent increase in annual comparison. The increase of prices slowed down, but on average the flats sold in the first half of the year cost 9 per cent more compared to last year – reveals the latest analysis of ingatlan.com, which uses the latest Central Statistical Office data.

The newest data shows that the price increase did not block the growth in sales. This is partly the result of the decrease of the importance of Budapest in a sense that more and more sales take place in the countryside, and the housing loans also helped the increase of the number of sales.

Rural big cities are being included on the maps of investors.

In the case of purchases for investment, there is little difference between the yields in popular smaller cities and the yields available in Budapest.

According to the data of the Central Statistical Office, before 2014 the average square meter price of real estate sold in the capital and countryside was only twice the difference, which has now almost been tripled.

Within Budapest there are huge differences too, the average price is 524 thousand HUF per square meter but in the priciest districts (I., V., II.) the average price is at least 700 thousand HUF. But there are also neighbourhoods, including the XXIII. and XXI. district, where the average price per square meter was below 350 thousand HUF.

Outside the capital, prices are much more favourable: in the central region of the country the average square meter price is around 1000 euros, in the Transdanubian region around 800 euros, in Eastern Hungary it is about 650 euros.

15 Dec 2017

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