New survey: Hungary is among the least desirable countries for homebuyers
A new study has named Hungary as one of the least desirable European countries for homebuyers, featuring in 1st place at the bottom of the list.
The team at 123Jaloezie have researched countries across the EU to reveal Europe’s property hotspots. Based on factors such as the number of property searches, property price index, and the increases in rent and property prices since 2015, combined to make a single ‘Property Hotspot Score.’
You can view the full research HERE.
The 10 least attractive European countries for homebuyers
|
Rank |
Country |
Rent change since 2015 |
House price change since 2015 |
Numbeo Property Prices Index 2023 |
Global Property Searches |
Property Hotspot Score |
|
1 |
Hungary |
46.33% |
154.35% |
0.70 |
58,900 |
0.77 |
|
2 |
Lithuania |
53.02% |
95.05% |
1.10 |
33,910 |
0.89 |
|
3 |
Czech Republic |
22.30% |
115.30% |
0.90 |
50,730 |
1.16 |
|
4 |
Estonia |
58.56% |
86.76% |
1.50 |
39,970 |
2.09 |
|
5 |
Poland |
42.00% |
65.21% |
0.90 |
115,730 |
2.55 |
|
6 |
Slovenia |
42.79% |
73.65% |
1.30 |
87,940 |
2.86 |
|
7 |
Austria |
22.71% |
70.77% |
1.40 |
153,700 |
3.64 |
|
8 |
Slovakia |
8.15% |
75.47% |
1.20 |
29,990 |
3.72 |
|
9 |
Romania |
18.48% |
43.70% |
1.00 |
153,010 |
3.83 |
|
10 |
Portugal |
15.79% |
90.17% |
1.20 |
800,280 |
4.47 |
-
Hungary is the least desirable country in Europe for homebuyers with a score of just 0.77 out of 10. This low score can be attributed to an incredibly high increase in property prices, which have more than doubled on average since 2015. There are also relatively few property searches focused on Hungary, with only 58,900 in the last twelve months.
-
Lithuania is the second least attractive European country for property searchers scoring 0.89 out of 10. Although property prices have not risen as much as in Hungary, in Lithuania they have almost doubled since 2015. There were just under 34,000 property searches targeting the country, the second lowest in the study.
-
The Czech Republic completes the bottom three with a score of 1.16. The combination of high real estate price increases, low relative affordability and few searches is only mitigated by the slower increase in rental prices in the country.
The research also revealed:
-
Italy is the Property Hotspot of Europe with a score of 8.81, making it the most desirable location for people looking for a new home. Italy recorded the lowest house price increase since 2015 at 6.90%. They also recorded very low average increases in rent since 2015 at 2.60%. Italy received more than 968,000 property searches in the past 12 months, indicating strong public interest.
-
-
Greece experienced the lowest increase in rental prices since 2015, average rent fell by 6.54% and is the only EU country to have a decrease in rent.
-
-
-
Belgium has the highest real estate price index score of 2.30. The higher the score in this index, the more affordable it is for the people who live there to buy or rent a home.
-
-
Zeeland is the property hotspot of the Netherlands with a score of 8.14, combining affordability with a 1.6% annual rent increase and an average property price of €326,521.
Read also: