The best times to sell estates in Hungary
OTP has published an analysis of real estate market recently. It reveals that summer means a temporary decrease every year, but it is balanced by university students’ demand on sublets during the second half of the season, according to Forbes.hu.
Pass marks for universities are usually announced at the end of July. About 106,000 students applied for universities this year, and tens of thousands are expected to seek for housing in August. Many students move in a sublet together, but the one-bed condominiums near the campuses are also very popular in this period.
Leaves fall, demands rise
Not only universities, but primary schools and high schools also boost the demand for housing in autumn. Many students begin their school year in an institution far away from their parental home, and a large portion of them decide to move closer instead of travelling constantly. Searching for housing usually begins earlier, but moving in often occurs in autumn. Those who have estates near one or more schools should exploit this opportunity. OTP Ingatlanpont also highlights that planning and going on vacation takes several weeks from the active search for housing, so people have more time for this in autumn.
The strategic disadvantage of winter
Winter is a big gooseberry season in the housing market. Though the whole market does not shut down, the cold decreases the appetite for buying new estates. It has two reasons: first, the bunch of holidays consume a lot of time, energy, and money. On the other hand, people do not like to go from one offered housing to the other in the unpleasant cold weather.
Spring, the doorstep of summer
Housing market returns from its hibernation in spring. This marks the beginning of holiday homes’ season. Customers usually begin searching at this time. The demand mostly reaches its peak at the end of May. OTP Ingatlanpont states that 80% more estates appropriate for vacations were sold in this period compared to the other parts of the year. There was an increase in interest in resorts during the recent years: 30% more resort units were sold last years compared to the year before.
And what about luxury?
OTP Ingatlanpont states that the only category in which sellers do not need to wait for any period is the luxury estate. It does not mean that luxury housings are sold immediately, but the demand is much less determined by the time of the year. It is more important to find the potential purchasers.
“Many housing sellers do not think about that the success of the selling depends on both the habits and the weather of the current season. We can observe different milestones during the year which improve or hinder the chances of selling different types of estates. These are more like rules of thumbs than facts based on data, but an experienced real estate agent knows exactly when to sell an estate. Those who have time to wait should turn to an expert, who will provide them with hints and tricks to do a more favorable business”, chief analyst of OTP Ingatlanpont Dávid Valkó stated.