Estate prices continue to rise in Hungary

Szeretlekmagyarorszag.hu writes that the average square metre price of new apartments was 500 thousand forints (~1619 euros) in the beginning of January, while the price of used apartments was around 377 thousand forints (~1221 euros). Regarding the countryside, ingatlan.com’s survey showed that the square metre price of new apartments are the highest in Debrecen, Kecskemét and Veszprém.

The prices show significant differences by region. For instance, the average square metre price of new homes in Budapest is 588 thousand forints, while in case of used apartments it was around 458 thousand.

The same rate of new homes varies between 339-392 thousand forints in county centres with a more active estate market, like Debrecen, Kecskemét, Győr, Székesfehérvár, Veszprém and Szombathely, while the price of used homes varies between 246-293 thousand forints.

Looking at the average prices of new homes at county centres separately, Kecskemét was the most expensive in the beginning of January with 392 thousand forints/square metres, the second was Debrecen with 381 thousand, and the third was Veszprém with 353 thousand. These prices mean a 6-21% increase compared to last year.

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According to the survey, the market of used homes is probably going to stay active, the prices might change a little, but experts don’t anticipate a decrease.

However, it might happen that the appearance of new homes will restrain the increase of prices on the used apartment market of Budapest and other bigger cities. And the predicted supply-growth on the market of new homes will be covered by the demand. Prices might increase slightly, but the rise will surely stop at some point as the financial capacities of households have limits.

Copy editor: bm

Source: http://www.szeretlekmagyarorszag.hu/