Home prices up again in Hungary

Home prices in Hungary rose 6.5pc year-on-year in August, after climbing 6.4pc in July, listings site ingatlan.com said on Friday.

Home prices in Pest County rose just 3.2pc in August, but prices in the Northern Great Plains region, home to Debrecen, Hungary’s second-biggest city, climbed 8.3pc. Prices in Western Transdanubia were up 8.1pc and prices in the capital rose 7.8pc.

The price of homes in Budapest averaged EUR 2,684/sqm in the first two weeks of September, ingatlan.com said. In Debrecen, prices averaged EUR 2,109/sqm, while they averaged EUR 2,010/sqm in Győr, EUR 2,002/sqm in Veszprém, EUR 1,980/sqm in Székesfehérvár and EUR 1,952/sqm in Szeged.

budapest-property-building flat home prices — Photo: Daily News Hungary – Alpár Kató

Home prices will rise in Esztergom?

Thai President Foods will invest around HUF 18bn (EUR 45.5 million) to expand capacity at its noodle plant in Esztergom (North Hungary), Minister of Foreign Affairs and Trade Péter Szijjártó announced on Friday. The state is supporting the investment, which will create 80 jobs, with HUF 2bn, Szijjarto said. He added that local suppliers’ share of Thai President Foods’ feedstock was on the rise.

Close to 100pc of the plant’s output is exported, mainly to markets in Europe. European countries open to investments by Asian companies can profit much in the new era of the global economy, Szijjarto said, adding that Hungary was the “best example” of that.

The investment in Esztergom by the Thai-owned company, clearly shows the success of the government’s Eastern Opening policy, he said, adding that Asian companies were dictating the pace in a number of sectors, taking the place of their Western competitors.

He noted that bilateral trade between Hungary and Thailand had exceeded USD 750m last year.

He added that around 155,000 people were employed in the food sector in Hungary. Since 2014, the government has provided support for 78 big food industry investments, creating close to 9,000 jobs. About half of food sector output is exported.

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