Number of sold flats in Budapest showed a rapid decrease
It has been reported before that the real estate market of Hungary has faced many changes because of the epidemic situation, and now that the second wave of the coronavirus reached Hungary, the changes continue. It has been stated that the number of sold flats in Budapest is still decreasing.
Forbes reported that only 1,000 flats were sold in the Hungarian capital. This number might be higher than last year’s statistics, but it is still the second-lowest one in the history of the Hungarian real estate market. In the last few months, and especially during the summer season, approximately 6,300 new flats were put on the market waiting for new owners. This is a decrease of 7% from last year’s data, and during the spring season, only 300 flats started selling and advertising.
The good news is that the prices of newly-built flats have increased by 6.1% from last year’s 9.5%.
Most of the flats were sold in the outskirts of Budapest, mostly in Angyalföld (243) and in the districts of Buda. Flats sold in the central parts of the city make up only 5% of all the flats to be sold. The market is waiting for the official date and location of brownfield lands in Budapest to grab the opportunity to either renovate or build new estates and put them on the market. The official announcement has not been made yet, and the market can only wait until that.
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Source: www.forbes.hu