Hungarian housing price growth eases in Q3, official data says
Housing prices in the third quarter grew by 2.8 percent from the previous one, the Central Statistical Office (KSH) said on Friday. In Q2 prices were up 3.4 percent.
Prices of new builds edged up 0.6 percent, while resale prices rose by 3.2 percent on a quarterly basis.
Year on year, new build prices grew by 12.6 percent, while resale home prices were up 14.8 percent, translating into a 14.5 percent annual rise in the third quarter.
Estimates from preliminary data show that transaction numbers were up an annual 17 percent in Q1-Q3 2021, at their pre-pandemic level.
New builds averaged 37.8 million forints (β¬ 103,500) in Q3, more than double resale home prices, which averaged 18.7 million (β¬ 51,000).
Per square metre, new builds cost 697,000 forints (β¬ 1,900) on average, while resale homes went for 300,000 forints (β¬ 822).
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Source: MTI
1 Comment
The Budapest, Hungarian Property Market – has an increasing – SOFT under belly – that will give way – collapse under strain for a multitude of reason(s).
The – Economic & Financial factors – inclusive – of the continuing – SOFTNESS – trending down-wards – across all the major important componentry of the Hungarian Economy – will cause the collapse – of the Property Markets – all the ‘Broadsheet” of its Industry – the giving away of the soft under-belly – by SHEAR – weight of the SATURATION of Sellers in the Property Market – over Buyers.