Foreign buyers accounted for 5 pc of home sales in Hungary last year

Foreign nationals bought 7,371 homes in Hungary last year, accounting for just under 5 percent of total market turnover, according to the Central Statistical Office (KSH).

Almost two-thirds of those foreigners were citizens of other European Union member states.

Germans bought 1,079 homes in Hungary. Fully 84 percent of these homes were outside the capital.

Chinese nationals bought 1,058 homes in Hungary, of which 91 percent were in Budapest. They paid on average a little more than 41 million forints per flat, well over the 17 million paid by Germans.

Romanians bought 1,012 homes in Hungary, Slovaks purchased 695 and Austrians 424.

As we wrote before, business news portal Portfolio examined whether real estate prices in Budapest can be subject to either a positive or negative change in the near future. Here is what they found.

We also wote few weeks ago, the prices will keep on getting higher on the real estate market in Hungary. The prices have gone highest in the capital city, where the average price hits 400 thousand forints (1200 euros) per square metre, read more HERE.

Source: MTI