Digital turnaround in the Hungarian real estate sector

Both buyers and sellers can now feel a digital turnaround in the real estate sector. Thanks to digitisation, more and more Budapest panel floor plans are available online. In addition, sales data for the first nine months of 2022 have already been published. The data show that the number of transactions in 2022 and 2021 differs significantly from each other.

All Budapest panel apartment floor plans will be soon only one click away on the real estate website ingatlan.com, reports napi.hu. This will greatly assist both property advertisers and those looking for a home. According to László Balogh, a chief economic expert at ingatlan.com, the day is just around the corner when the floor plans of all Budapest panel apartments will be available to everyone thanks to their digitisation.

Here are the last year’s figures

The Hungarian Central Statistical Office (Központi Statisztikai Hivatal, KSH), recently published the figures for sales in the first nine months of the year. According to the report, 4.6 percent fewer homes were sold in Hungary in the first nine months of last year than in the same period of 2021.  While property prices increased in the first quarter, a gradual decline in price increases could be observed in the subsequent quarters.

Sales of both new and second-hand homes fell by between 3 and 7 percent in each quarter. Although the number of sales fell for both types of housing, the rate of new housing sales did not even reach 5 percent last year. This is well below the peak of 10 percent in the first quarter of 2021.