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First signs that the increase of the properties’ prices is over in Hungary
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The huge increase of the properties’ prices seems to be over soon in Districts XIV and XVI, reports tozsdeforum.hu. The properties in Districts XIV and XVI tend to be overpriced for the time being, but, according to the experts, premonitory signs can be noticed that the increase will be over soon, moreover, it can turn into a decrease.
Almost reaching the middle of the year, we can see a stagnating demand in the property markets of Districts XIV and XVI. It seems that the property market gets its balance back – Tamás Sebestyén, the professional manager of Balla Ingatlan stated. Due to this balance, the prices of the flats in vogue came to a sudden stop and headed downwards instead.
The demand decreases, the supply increases
“We can experience more and more frequently that an overpriced flat gets stuck on the market, we barely get any calls related” – the estate agent said adding that the number of inquirers of the property markets of the two mentioned districts noticeably decreased last month compared to that of the preceding months. Parallel to this, the supply started to increase, though only a bit. Its reason is simple: the decrease of demand resulted in the increase of the selling side – added Tamás Sebestyén.
In spite of this, it is still typical that people try to sell their flat for quite an absurd price. They usually set out from the prices of other flats in the neighbourhood. They saw or at least heard about a flat of a certain price very near to theirs, and they try to determine the price of their own flat on the basis of the other one. This, however, usually leads to wrong prices and later to properties stuck into the market.
Impudent bargains have appeared
Parallel to this, the measure of bargains is constantly increasing. There are more and more “impudent offerers”, who are not afraid of offering a price which can be lower by 10-15 per cent. Of course, these bargains are not typical in practice. According to Tamás Sebestyén, if the gap is big between the advertised and the offered prices, there will usually not be any agreement about the flat.
One reason for this can be that the seller sticks to the official price too much, despite the fact that the offered price could be the normal market price of the flat. But it can also happen that the buyer tries to make a too impudent offer for a flat of a normal price. However, the result is what counts: the appearance of a serious conflict of interests, and then the fail of the deal.