The 2022 international home construction crisis reached Hungary. The market of newly built properties is concentrated in Budapest, its suburbs, and Lake Balaton. The average sqm price is EUR 3410 in Budapest, 3% higher than last July.
Based on the data of ingatlan.com, there were more than 8,000 newly built properties for sale in July. László Balogh, an expert in the market segment, said the prices were at the edge of solvent demand. The average sqm price in the county seats is at EUR 2,238, index.hu wrote. Furthermore, the market still waits for the investors’ return.
Here are the prices
The number of completed homes was down by 18 percent year on year in the first half of 2024, at 6,027, the Central Statistical Office (KSH) said on Wednesday.
Building permits issued in the period were also down by 18 percent, at 8,972, KSH said.
Budapest saw the completion of 2,124 new homes, down by an annual 8.3 percent. Home constructions were down year on year by 20 percent in county seats, 27 percent in other cities and 19 percent in other localities, KSH said.
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Featured image: depositphotos.com
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1 Comment
The Real Person!
The Real Person!
“investors return” – position opinion un-changed of this commentator, that the CARNAGE in FACT being reported inside Hungary, continues – commencement post February 2020.
This fact WORSENS as number of properties come on the market for sale, that sellers over buyers – the disproportion, the disastrous “ravaging” effects this will inflict – it’s outcome – on Hungary.
Western Investors – will NOT “risk” in Hungary.
There is NO platform that can be introduced by the Orban – Fidesz Government to MOVE the Economic & Financial position, at this point in time, that is Hungary into one that “gives light” to any form of SUSTAINABILITY.
Hungary, under the Orban / Varga policy’s of gargantuan FAILURE on the Economic and Financial “path” of there DOING, – that Hungary continues into the “nadir” of MESS – it TRAVELS –
The instability of the Economic & Financial “landscape of Hungary, the rising DEBT of the Orban – Fidesz Government, the enormity of disfavour of the current Prime Minister of Hungary – Victor Orban, his “masquerading” – talking a TALK, that is “veiled” in what he is proposing, to end the Russian War on the Ukraine – Capitulation.
Orban is an individual, could be said a MULE that “hidden” in him, a role of a “Gofer” to Russia and China, that IS understood within the European Union, and country’s Governed under Democracy.
Investors – the elements of HIGH risk, entering the markets as referred in this article, they have appraised, they KNOW, of the gravity of MASS uncertainty of Hungary, not just staying as a “supposed” Democracy which we know, the European Union know and have informed Orban – the Fidesz Government, of there non DEMOCRATIC practices, but that the Economic & Financial “landscape” of Hungary, the growing pressurization on IT, sooner than later, like it’s currency will succumb into a “nadir” that will be HORRENDOUS in the aftermath of it’s IMPACT on Hungary.
The fundamentals of Hungary – Economic & Financial, it’s currency, there is NO positive indicators in fact the opposite, that the Hungarian economy can Stabilize nor avoid a worsening of it’s present picture which is trending LOWER.
Orban – his Fidesz Government – the European Union – NATO will they REMAIN in Membership ?
Russia & China, the continual growing partnerships and relationships being established by the Orban – Fidesz Government – will sooner than later, bring gargantuan PRESSURE’s on Hungary.
Orban – the Fidesz Government, present DEBT, they can’t BORROW on, to sustain running Hungary, that can not SERVICE the DEBTS that the Orban -Fidesz Government have created in there 15 years of Government.
Orban – the Fidesz Government – have NO money to INVEST in the NEED’s of Hungary exampled, Education, Hospitals, across the “landscape” of Public Health, Public Transport.
Orban, the Fidesz Government there PRIORITIZATION over the 15 years they have been the Government of Hungary, the “snow-balling” effects of there FAILINGS to place the NEED’s of the citizens FIRST – the daily life need’s has been a cataclysmic DISASTER.
The “catch up game” coming from a position to endeavour bringing NEED’s of every day life, of evert day living for HUNGARIANS, is Financially & Economically un-obtainable by this Orban Government, that is NOT in a position, through being exhausted depleted of FUND’s to make INVESTMENT’s and NO investments coming from the WEST – country’s of DEMOCRACY, it “paints” a picture of Hungary, of downheartedness.
Social In-equality – the rich getting richer – the poor getting poorer this GAP in Hungary is DISPROPORTIONATE.
It’s a destructive FACT in Hungary, that makes looking at a future Hungary extremely Dubious – of DOUBT.
Hungary, that a Government can’t ESCAPE that government under the leadership of Victor Orban as it’s Prime Minister, a Finance Minister, of humongous FAILINGS in Economic & Financial management of Hungary – Mihaly Varga, through there FAILINGS we have in excess of 3 million fellow Hungarians living in POVERTY.
Orban/Varga – “own” this DOING that Worsens.
WHAT is the attractiveness, the drawing of – to INVEST in Hungary ?
It’s NOT on the Radar of the West which is another deepening “THORN in the Side” an annoyance, that is un-controllable, a worsening FACTOR, all in the OWNERSHIP – the name of the Orban – the Fidesz Government of Hungary.
The phase “if you build it they will come” – who will COME ?
Carnage commencement post February 2020 – in the subject of this article, in the Property & Real Estate Profession, new Hotels – competition – who will come ?
Tourism won’t be the SALVATION – the saver of Hungary.
Population number in on-going Decline, in an “ageing” population, that for 15 years, the population number of Hungary has statistically factually reported, that yearly there are more Deaths of Hungarians than “little one’s” born.
Hungary – the Demographic change factor, people “Movement”.
Hungary is challenged with a shrinking, ageing population, the disproportion numbers of youth of the mid 20’s in age on to mid to late 30’s in particular, who continue to evaluate RIGHTLY there FUTURE prospects, there Life Qualities, there Security, there Families, there children’s security.
Hungary – has no Economic GROWTH.
Hungary – opportunities of employment, not just in the building and construction “game” but look at the BIG Picture that “returns” a CLEAR indication that FUTURE employment, not helped by a Government, as is factually at this point in time that has NO money to invest into Employment, of it’s citizens, this “going forward” for Hungary is not Healthy.
“Right of Right is always RIGHT” – from the “mouth” of Victor Orban.
The Distillation of Democracy in Hungary by Victor Orban and his Fidesz Government for Hungary – Wrong of WRONG.
Citizens CHOICE – as our country CRUMBLES all around us, the “Skuttling” process undertaken by the Orban – Fidesz Government of Hungary, as a country SOLD off – handed over by the “Gofers” to Russia and China – WRONG, in fact perilous for the FUTURE of Hungary.