Map shows the age of the Hungarian real estates

According to index.hu, website Otthonterkep made a map which shows a lot of useful information about Hungarian real estates.

The map shows the average age of the real estates, the proportion of real estates were built after 1990 and the proportion of real estates were built after 1946. It is by counties, micro-regions and Budapest. It’s no surprise the oldest residential real estates are in the inside districts of Budapest. Belvaros-Lipotvaros holds the record: 85 years. Hegyvidek (12^th district) is also far above the average: 58.7 years. The average age in Tolna County is as much as in Budapest: 51.5 years.

The analysis of Otthonterkep writes several interesting data. One of them is the aging of the buildings. The Hungarian housing stock is ageing; the average home was built nearly 50 years ago. The number of new building permits issued in recent years was historically low. The downward trend in new housing construction seemed to be stopped in 2014, and the number of new licenses increased by an additional 44% in 2015 compared to the same period of 2014, but that’s no reason for optimism due to the low base.

If we look at the nationwide conditions, the most real estates were built before 1946 and between 1970 and 1980, according to the 2011 census. Real estates, which are more than 65 years old, which were built until the end of the Second World War – typically prior to World War II – makes up 20% of the housing stock. The housing boom of the 1970s and 1980 is the result of the so-called goulash communism, home- and housing estate constructions started this time, which, incidentally, also contributed to the country’s indebtedness, index.hu said.

In the years after the regime change, the number of newly-built properties drastically declined, only the housing subsidy system of the 2000s and the spread of foreign currency lending brought turn with their known negative consequences. Following the crisis, the number of new construction continued to contract.

Big differences in the country

The oldest housing stock is in Tolna, Bekes and Nograd Counties. Bacsalmas micro-region, Bacs-Kiskun County has the oldest housing stock. Nearly half of the residential properties were built before WW2 and only 4.5% of them were built after 1990. Baranya County gave 3 micro-regions to the 10 micro-regions with the oldest housing stocks. Bekes, Csongrad, Tolna, Vas, Somogy and Veszprem Counties gave one each.

Accoding to index.hu, the youngest housing stock is in Gyor-Moson-Sopron, Hajdu-Bihar and Szabolcs-Szatmar-Bereg Counties, and above all, in the agglomeration of Budapest. 6 of the 10 micro-regions with the youngest housing stock are in Pest County, in the Budapest agglomeration. As a consequence of the suburbanization process started in the early 2000s, construction industry has started and the newly-built properties were mushrooming.

The Veresegyhaz micro-region has the youngest housing stock, where nearly half of the real estates were built after 1990, but the proportion is 35-40% in the Erd micro-region as well. Due to the high proportion of the newly-built real estates, Siofok and Heviz micro-regions around Lake Balaton are also in the top ten. But the micro-regions from the eastern part of Hungary are also on the list: the Hajduszoboszlo and the Nyiregyhaza micro-regions, index.hu said.

Budapest is the thousand year-old city

Of course, it’s not the age of the housing stock, which is 52 years. Budapest is a true two-faced city, there are hundreds of houses older than 100 years in the center, of which the oldest is the Voros Sun Haz (Red Hedgehog House) which is built around 1260. The traces of the 1970-1980s can be discovered in the housing estates, while new condominiums are being built in some parts of the city.

Accordingly, the oldest housing stock can be found in the 1^st, 5^th, 6^th and the 7^th districts, the average age decreases towards the outer districts. The most new houses are built in the 9^th, 13^th and the 14^th disctricts; here is the highest proportion of real estates was built after 1990.

Is there a relationship between the house price?

Of course, the price per square meter of the newly-built property is higher than a significantly older one, this proves that there is a strong correlation between the average price data of Otthonterkep and the proportion of the real estates were built after 1990. A diagram shows that the higher the proportion of real estates were built after 1990 in a micro-region, the higher the average price per square meter of the properties in the micro-region.

based on the article of index.hu
translated by BA

Source: http://index.hu