Getting bigger housing in Budapest and the countryside

In the first third of 2018, more than 50,000 real estate transactions were completed in Hungary, according to Tőzsde Fórum. This means that the demand is still growing. It seems that customers are adapting to the changes of the market. Duna House Barométer has published a survey about the seller and buyer habits and tendencies of the first four months of this year.

The age group between 30 and 50 is still the main target of the real estate market, as it has been for a long time. However, the rate of the younger generation — between 20 and 30 years — increased in the past year.

The most popular part of Budapest is District XIII, which has improved its rate of demand. Districts VII, VIII and IX also have better results than in 2017. On the other hand, the popularity of Districts X and XX fell.

Housing in the best state is the most demanded in Budapest, while the relatively good quality sells the best in Pest County and Eastern Hungary.

However, it was revealed recently that there is still a large demand for used housings, which tend to be in a less favourable shape.

Only 8 percent is interested in real estates that require renovation in the capital, and this rate is even lower in the whole Pest County.

The average time of selling a flat is in controversy in Budapest and the country: the former increased, the latter one decreased.  Brick housings produce a similar rate, but in this case, only Buda and the inner city shows an increasing tendency. Three months is the average time within which a real estate is transferred from the seller to the purchaser.

In April, most of the buyers were between 40-50 years. Budapest has spent an average of 126,000 euros on new real estate.

Though the number of employees decreased among customers, they still lead the chart. 38 percent of the buyers were purchasing housings for investment purposes.

The younger generation (30-40 years old) was in the lead in the countryside; they constituted 35 percent of the total. The rate of purchasers with the intention of extending their living space increased in a year to 31 percent.

They usually spend about 75,000 euros for getting a bigger housing.

A large increase is seen in the rate of sellers between 30-40 years, as well as the number of entrepreneurs.

Only 4 percent of the sellers in Budapest sold their real estate bought earlier for investment. 37 percent of the sellers sold their smaller housing in order to change it for a bigger one.

Sellers in the countryside were somewhat older than their counterparts in the capital, people between 40 and 50 years dominated this category.

Just as in Budapest, most of the sellers intended to get rid of their smaller properties to move to a larger one: they mostly sold real estates in the value of 50,000 euros. The average size of the housings was slightly bigger than in the capital.

Source: Tőzsde Fórum