Now is the time to buy property at Lake Balaton: favourable conditions await
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The Balaton real estate market could close a turbulent year. There have been several significant changes in demand for properties on the Hungarian seaside. Not only domestic but also foreign buyers’ demands have changed. Now, based on a statement by Duna House, Portfolio, a Hungarian online business magazine, has summarised the trends and turns in the Balaton real estate market in 2022.
As we reported, there have been significant changes in the domestic property market in recent months. The decline in demand and the emergence of an oversupplied market are not unique to Budapest. According to a recent report, similar trends can be observed on Lake Balaton, Portfolio reports.
Significant changes in the property market
Károly Benedikt, Head of PR and Analysis at Duna House, said the following about the state of the market: “The Hungarian real estate market has had a hectic year, and this transformation has not left the Balaton holiday home market untouched. Changes in the economic environment, inflation and rising energy prices have transformed the demand market into a supply market. Sellers are still reluctant to lower prices, and more adventurous but serious buyers would bargain even before viewing the property.”