How far can real estate prices in Hungary increase?
In the last ten years, it can be observed that real estate prices have been growing all over Hungary. This exponential growth was not even disturbed by the economic effects of the coronavirus pandemic. Hungary is still in the middle of Europe in terms of price competition. Experts believe that the rise in prices will not stop.
September 27 was World Tourism Day. On this occasion, Duna House collected the real estate prices in the capitals of Europe. The latest Eurostat data show that real estate prices rose by 6.1 per cent in the first quarter of 2021 compared to the same period last year, based on the housing price index measured in EU member states.
The annual growth rate has not been as high since the third quarter of 2007.
In 2020, despite the impact of the coronavirus epidemic, an increase of 1.7 per cent will be observed. The highest price increase was in Luxembourg, where property prices rose by 17 per cent from a year ago. In addition, the rate of growth was higher than 10 per cent in Denmark, Lithuania, the Czech Republic and the Netherlands, napi.hu writes.
Of the Visegrad Four, in addition to the Czechs, the Polish are also ahead of Hungary.
“Examining the whole of Europe, the Hungarian real estate market is in the price competition at the end of the middle field,” says Károly Benedikt, Head of PR and Analysis at Duna House. He added: “It can be bought in Budapest at a price of between HUF 1 million (€ 2791) per square metre. According to the latest Numbeo statistics, the price level is almost the same in Croatia and Estonia, but it is cheaper to buy apartments in the capitals of countries such as San Marino, Serbia, Ukraine, Romania or Greece.”
The least should be spent in Turkey, the most in the UK, France and Luxembourg per square metre.
In Luxembourg, for example, it is over HUF 4 million (€ 11164 ) per square metre of real estate. Experts add that the comparison should not be made solely based on house prices. It is also important to take into account the income situation of the population, which can vary significantly from country to country.
- Mass investments to start in 2022 in Budapest’s hotel sector
- Unique rise in real estate investment volume in Hungary!
Source: Eurostat, napi.hu
DNH – please get – FACTUAL- report Fact – when you write on this subject.
This quality or lack of journalistic FACT – has enormous ramifications on Hungarians especially the younger generation who have intentions to enter the property market.
The property market in Hungary remains that Sellers – the number of properties on the market for Sale – outweigh those who wish or have intentions to buy or invest in Property.
The un-healthy in-balance remains Sellers over Buyers – as it has done since mid to late 2019 and throughout 2020 and to this date in 2021.
The property market in Budapest, Hungary – remains extremely volatile.
Your report of 6.1% per cent increase in housing prices – in the first quarter of 2021 – is Fabricated and generated from inside the Hosing Property Real Estate Industry – loosely – without substance of Fact – talking up the market – that is not Healthy – by an over supply of Sellers – increasing – due to on-going new properties or renovated properties – coming onto the market for Sale – as opposed to the lack of Buyers.
Property values in Budapest – in these un-certain Economic Times we are faced with in Hungary – the up-coming National Elections May 2022 and still engulfed with this on-going novel coronavirus, and un-certainty of existance within the European Community – indications ARE they are Inflated and will drop back 10% to 15% – in the coming 6 – 9 months.
Prices are decreasing, not increasing. Why are you giving these wrong news, what is your real purpose, increasing demand?
This is a Catagory – in the Big Picture of the Hungarian Economy – that is being – Contolled and Manipulated – by the present Government/Fidesz Party.
The vastly over supply of Residential – Homes & Apartments – new and refurbished – Factory – Warehouse Storage is a Major Economic for this present Government expanding – PROBLEM.
Sellers to Buyers – “drownes” by Sellers and the list is Growing.
Bring into this MAJOR Headache – for the present Government – growing list of completed new Hotels and those under construction or in the course of renovation.
Hotels – add to the OVER Supply – wordage use for Property – and its of near Similarity.
Supply and Demand – saturation of sellers over buyers – and in the Hotel game – over Supply of Hotels that are “focused” at the Tourism paid huf/euro – but it is Saturated – “scared and battered” through the on-set of this novel coronavirus that continues – and there will be Major casulties and disasters.
The past (10) ten years – FACT – under this present Government – Foreign Investment has been the Major Catalyst – REASON – in driving property values to what they reflect in 2021 – which are and remain grossly and economically dangerously OVER Valued.
Foreign Property Investors – across the broad range of areas in the Property Game – who have been and are Responsible – for the High Levels of prices – besides our present Government having “greased and oiled hands” – we see to-day ?
Answer – in this order ;
(1) = Chinese.
(2) = Vietnamese.
(3) = German.
Day light hours between first and second – with the Chinese winning Substantially – in there Foriegn Investment into Hungarys = Property Market.
Be watchful/careful – for what goes up must come down – and when the weight of numbers – breaks the back and the shoulders the inability to sustain weight – things COLLAPSE – into a Destructive Position of Impact which has high probabity of being witnessed in the Property and all associated areas – in Budapest, Hungary.
Death to new born ratio of children = deaths the winner.
Population continue to Decline.
Budapest, Hungary = continues to be an Ageing Population.
The “brain drain” = the youth = leaving Hungary.
Sustainability – what – what is going to Sustain the leval of prices at present = in the Property World – in Budapest, Hungary ?
What ?
Prices in rural Somogy county, close to the lake, continue to rise. In my village there is no longer anything for sale, and if one comes on the market it is snapped up straight away. Many Germans moving into the western side of Hungary are buying anything they can and refurbishing to live in …
Budapest, Hungary – its Property Market scene over the term of this present Government/Fidesz Party, they have played an empirical major “hands on” role – that continues – to “feed” the markets in property across all catagories.
Embracing of Foreign Investment throughout all structures of the Hungarian Economy, that when you “break down” or single out – ALL – Property Markets Components within Budapest, Hungary – the Political agenda – Ideas and Philosophy of the present Government/Fidesz Party – was going to DRIVE – the Markets in Property to “stellar” levals – we witness in September 2021.
The below is Factuality what is occurring in Berlin, Germany.
It is thought there is growing Social Inequality growing at an alarming rate in Berlin, and throughout Germany.
Social Inequality – what about Hungary?
Yes or No – my opinion YES – and I “fear” it.
Berlin, and Districts of – similar set up to ours in Budapest – this is what was written.
“Smaller landlords and State owned Social housing have been aggressively targeted by large institutional players for whom housing has become a vehicle for the management of global funds. For ordinary tenants in Berlin, where at least 80% of the population are Renters, the transformation of the housing market was occompanied by sky-rocketing rents, widespread displacement and dismantling of local communities and social bonds.many neighbourhoods were rapidly Gentrified while low in-come Residents, stuggled to find Decent and Affordable housing.”
Is similarities to Berlin,Germany – occuring in Budapest, Hungary possible already OCCURRED – on-going ???
National Elections May 2022 – the Power that the Voices of Civilians are Granted – through Democracy.
Freedom to Vote – what do we see the Future Direction under what form of Government – its – Rules of Law – do we wish to see Hungary – our Future – GOVERNED.
If you are going to quote a great chunk of an article that is in the Guardian today, you could at least give them a credit. You also failed to mention the Expropriate vote, which was the key point in that article.