According to Eurostat’s latest report regarding flat prices in the first quarter of 2020, out of twenty-seven countries, Hungarian flat prices decreased the most on the European continent.
Világgazdaság reported that the leader is Luxemburg with 12.3% of an increase in the last few months while Hungary closed the list with 5.4%. Only Ireland and Malta have shown a decrease besides Hungary, out of all the examined states. The report might have shocked experts, but it is important to emphasise that in 2019, the Hungarian real estate prices were constantly increasing.
To be the last out of twenty-seven countries shocked every Hungarian real estate agent and expert, as the reactions prove it.
The only countries that showed a bigger decrease are Ireland and Malta. Many say that this will be the Hungarian real estate market’s most exciting era. Changes are expected that will be influenced by the second wave of the coronavirus epidemic, and once it ends, not just the country and the continent but the whole world will hopefully get back to normal.
Although the prices dropped, statistics revealed that the interest towards Hungarian cities, especially Budapest, has not disappeared.
Featured image: www.facebook.com/spiceofeurope
A recently published survey by OTP Bank presents Budapest and all the centres of each Hungarian county, revealing their current flat prices. Portfólió reported that similarly to recent years, Budapest is still the most expensive part of the country, with an average price of 1,765 EUR per square metre. Among Hungarian counties, the most expensive one is Győr-Moson-Sopron with 1,023 EUR, followed by counties Hajdú-Bihar and Vas with an average price of 843 EUR.