Real Estate Brokers Stir

According to penzcentrum.hu, the biggest Hungarian real estate agencies stir as the market’s expansion potential increases. Otthon Centrum opens forty new offices until the end of 2015, and Duna House has announced the establishment of a new network, penzcentrum.hu reports.

Otthon Centrum resolves the territorial exclusivity used during the previous decade and plans to open forty new offices in a tender system. Twenty-five of the new offices are expected to be established in Budapest and Pest-county, while the other fifteen will await buyers and sellers in the countryside.

Application for tenders is available from today, but exact details of the selection process are not yet available. The support system of the company is renewed: in the first six months, entry fees are not required to be paid (which previously cost several millions of HUF), and fixed franchise fees are also abolished.

Furthermore, a new office-supply system is being established. Applicants (those who meet technical criteria through tendering) would receive 2.5 million HUF aid for a monthly fee of 20 thousand HUF, which they could spend on IT-devices, furnishings and design elements.

Otthon Centrum explains its expansion with the growth of the market. According to them, the 15-20% growth of the annual real estate turnover, the increase in real estate prices, 7-8% yields and cheap loans all forecast a boom of the real estate market. Statistics also suggest the output of the real estate market in the first nine months of the year shows signs of revival after years of being seemingly dead.